Welcome to our dedicated page for Logan Ridge Finance news (Ticker: LRFC), a resource for investors and traders seeking the latest updates and insights on Logan Ridge Finance stock.
Logan Ridge Finance Corp (NASDAQ: LRFC) provides investors and financial professionals with comprehensive access to official company communications and market updates. This centralized news hub delivers verified information about LRFC's middle-market financing activities, including strategic credit investments and portfolio developments.
Users gain immediate access to essential updates including earnings announcements, regulatory filings, and operational milestones. The repository features press releases detailing LRFC's first lien loan transactions, portfolio company performance, and corporate governance updates - all critical for assessing the BDC's income generation strategies.
Key content categories include quarterly financial results, investment activity reports, dividend declarations, and management commentary. This resource enables stakeholders to track LRFC's execution of its core strategy: providing customized debt solutions to established middle-market businesses while maintaining rigorous risk management protocols.
Bookmark this page for streamlined access to LRFC's evolving financial narrative. Regular monitoring helps investors align their analysis with the company's documented performance in middle-market credit solutions and non-diversified investment management.
Logan Ridge Finance Corporation (LRFC) reported a Net Investment Income (NII) of $0.2 million or $0.07 per share for Q3 2022, a significant improvement from a loss of $1.5 million in Q3 2021. Total investment income rose to $3.8 million, while total operating expenses decreased to $3.6 million. The company successfully exited its investment in Burke America Parts Group for $2.7 million and plans further commitments to its Great Lakes Joint Venture. As of September 30, 2022, net asset value was $98.2 million, down from $107.1 million at year-end 2021.
Logan Ridge Finance Corporation (Nasdaq: LRFC) is set to announce its third quarter financial results for the period ended September 30, 2022, on November 8, 2022, after market close. A conference call will take place on November 9, 2022, at 10:00 am ET, to discuss these results. Investors can join the call by phone or via a webcast. Logan Ridge primarily invests in first lien loans, with additional investments in second lien loans and equity securities.
Logan Ridge Finance Corporation (LRFC) announced its second-quarter financial results for 2022, marking a transformative period under new management. As of June 30, 2022, LRFC reported a net asset value of $101.1 million, equating to $37.31 per share. The company successfully reduced its cost of capital by refinancing legacy debt, which resulted in a significant decrease in non-interest earning equity exposure. However, net investment loss was $0.9 million, showing improved performance compared to Q1 losses. LRFC anticipates benefiting from strategic initiatives in the latter half of 2022.
Logan Ridge Finance Corporation (LRFC) will announce its Q2 financial results on August 9, 2022, after market close. A conference call is scheduled for August 10, 2022, at 10:00 a.m. ET to discuss these results. The company, classified as a business development company, primarily invests in first lien loans, with some investment in second lien loans and equity securities from lower middle market firms. More information on their operations and financials can be found on their official website.
Logan Ridge Finance Corporation (Nasdaq: LRFC) announced a significant recapitalization on June 29, 2022, involving Eastport Holdings, LLC. This transaction allowed LRFC to receive $16.5 million in cash and $19.25 million in a new debt security, replacing all previous debts and equities. The new security will mature on September 29, 2027 and offers an interest rate of 3-month SOFR + 850. CEO Ted Goldthorpe highlighted that this move reduces non-interest earning equity exposure and enhances the company's financial positioning.
Logan Ridge Finance Corporation (LRFC) announced the full repayment of its 5.75% Convertible Notes and 6.00% Notes, totaling $74.9 million, significantly reducing its cost of debt. This milestone was achieved using cash reserves and proceeds from refinancing its capital structure. Key developments include an increased credit facility with KeyBank, now at $75 million, and new issuances of convertible notes and notes due in 2026 and 2032, both with lower interest rates. These actions aim to strengthen the company's financial position.
Logan Ridge Finance Corporation (LRFC) reported first-quarter 2022 results, showing a slight decline in net asset value to $106.2 million ($39.16 per share) compared to $107.1 million ($39.48 per share) at year-end 2021. The investment portfolio's fair value increased by $8.7 million to $206.9 million, aided by net unrealized appreciation. Cash reserves fell by $23.2 million to $15.8 million. Debt investments constituted 68.1% of the total portfolio with an average yield of 8.3%. The company refinanced its legacy capital structure, significantly lowering its cost of capital.
On May 10, 2022, Logan Ridge Finance Corporation (LRFC) announced a significant refinancing of its capital structure, marking a key strategic move for the company. The company increased its senior secured credit facility with KeyBank from $25 million to $75 million, with an additional borrowing capacity of $125 million. This refinancing reduces LRFC's cost of debt from approximately 7.0% to 5.2%. Furthermore, the company plans to utilize the proceeds to pay off $52.1 million in convertible notes and $22.8 million in notes maturing soon, ensuring sufficient liquidity.
Logan Ridge Finance Corporation (LRFC) will release its financial results for Q1 2022 on May 12, 2022, after market close. A conference call is scheduled for May 13, 2022, at 9:00 a.m. ET to discuss these results. Investors can access the call by dialing (844) 616-4517 and using conference ID 3899999. A replay will be available until May 20, 2022. LRFC operates as a publicly traded investment company, focusing on first lien loans and equity securities for lower middle market companies.
Logan Ridge Finance Corporation (LRFC) reported financial results for Q4 and FY 2021, showing significant de-leveraging and portfolio improvements. Debt-to-equity ratio improved from 1.98x to 1.17x. Total investment income for Q4 was $3.4 million, unchanged from the previous quarter, while annual income decreased by 36.6% to $14.8 million. Operating expenses fell to $20.3 million. The company exited $99.5 million of legacy portfolio investments. Net realized losses for the year totaled $8.0 million. Logan Ridge aims to strengthen its portfolio and generate higher investment returns in 2022.
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