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 Corporation was a publicly traded, externally managed investment company that elected regulation as a business development company under the Investment Company Act of 1940. Its historical news centered on quarterly and annual financial results, portfolio activity in first lien loans, second lien loans and equity securities of lower middle market companies, and external management by Mount Logan Management, LLC.
Company updates also addressed shareholder voting matters, material agreements, capital-structure disclosures, governance, and the completed merger that changed LRFC's public-company status.
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.
Logan Ridge Finance Corporation (LRFC) will announce its financial results for the fourth quarter and fiscal year ended December 31, 2021, on March 14, 2022, after market close. The company will host a conference call on March 16, 2022, at 9:00 a.m. Eastern Time to discuss these results. Investors can access the call by dialing (844) 616-4517, using conference ID 5439717. A replay will be available from March 16 to March 23. More details can be found on the company's website.
Logan Ridge Finance Corporation (LRFC) released its financial results for Q3 2021, highlighting a total investment income of $3.4 million, down from $5.0 million in Q2 2021. The company achieved net realized gains of $7.4 million, translating to $2.74 per share. It reported a decrease in debt-to-equity from 1.3x to 1.1x quarter-over-quarter. An investment grade credit rating of 'BBB-' was assigned by Egan-Jones Rating Company. Subsequent to the quarter, LRFC issued $50 million in 5.25% Senior Unsecured Notes due 2026 and plans to redeem $50 million of 6.0% fixed-rate notes by December 6, 2021.
Logan Ridge Finance Corporation (Nasdaq: LRFC) is set to release its third quarter financial results for the period ending September 30, 2021, on November 10, 2021, after market close. A conference call will follow on November 11, 2021, at 9:00 a.m. Eastern Time to discuss the results. Investors can access the call via phone at (844) 616-4517 or through a live webcast on the company’s website. The Company, regulated as a business development company, primarily invests in first lien loans and equity securities of lower middle market companies.
Logan Ridge Finance Corporation (Nasdaq: LRFC) announced a credit rating of BBB- from Egan-Jones Rating Company and priced a $50 million private placement of 5.25% senior unsecured notes due 2026. The offering is set to close on October 29, 2021, with net proceeds expected to be around $48.8 million. These funds will be used to repay certain debts, including 2022 Notes. The interest will be payable semiannually, and the company aims to reduce its cost of debt to benefit shareholders.
Logan Ridge Finance Corporation (LRFC) reported its Q2 2021 financial results, showing a net asset value per share of $41.96, down from $44.74 in Q1 2021. The company repaid $71 million of SBA-guaranteed debentures and transitioned to a new investment adviser, Mount Logan Management, on July 1, 2021. Total investment income increased slightly to $5 million, while total expenses decreased to $5 million. Net realized gains were $6.1 million, with a significant shift from losses in Q1. However, net change in unrealized depreciation was $13.7 million, indicating ongoing valuation challenges.
Logan Ridge Finance Corporation (NASDAQ: LRFC) is set to release its financial results for the second quarter ended June 30, 2021, on August 16, 2021, before market open. A conference call to discuss these results will take place at 11:00 a.m. ET the same day. Investors can access the call via phone or through a live audio webcast on the Company’s website. Logan Ridge primarily invests in first lien loans and equity securities of lower middle market companies.
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