Portman Ridge Fin Corp Stock Price, News & Analysis

Portman Ridge Finance Corporation (Nasdaq: PTMN) has scheduled its second quarter 2025 financial results release and conference call. The company will release Q2 2025 results on Thursday, August 7, 2025, after market close.

A conference call to discuss the results will be held on Friday, August 8, 2025, at 10:00 a.m. ET. Investors can access the call by dialing (646) 307-1963 with conference ID 1430967. A replay will be available through August 15, 2025. Additionally, a live audio webcast will be accessible via the company's website at www.portmanridge.com.

Portman Ridge Finance Corporation (NASDAQ: PTMN) has successfully completed its merger with Logan Ridge Finance Corporation (NASDAQ: LRFC). The combined entity will have total assets exceeding $600 million and will be rebranded as BCP Investment Corporation with a new ticker symbol "BCIC".

Under the merger terms, LRFC shareholders will receive 1.5 shares of PTMN common stock for each LRFC share, totaling approximately 4.0 million PTMN shares. LRFC shareholders will also receive two special distributions: $0.47 per share payable July 25, 2025, and a tax distribution of $0.38 per share payable July 22, 2025.

The company announced several strategic initiatives, including transitioning to monthly base distributions in 2026 and a significant share repurchase program targeting up to 20% of outstanding common stock when trading below 80% of NAV.

Portman Ridge Finance Corporation (NASDAQ: PTMN) has secured shareholder approval for its merger with Logan Ridge Finance Corporation (NASDAQ: LRFC), with 88% of PTMN shareholders voting in favor. The merger is expected to close around July 15, 2025.

Key terms include: LRFC shareholders will receive 1.50 PTMN shares for each LRFC share; post-merger rebranding to BCP Investment Corporation (BCIC); transition to monthly distributions in 2026; and implementation of a significant share repurchase program targeting up to 20% of outstanding shares when trading below 80% of NAV ($15.08 based on March 31, 2025 NAV).

Portman Ridge Finance Corporation (PTMN) announced the adjournment of its Special Meeting of Stockholders to June 27, 2025, to allow more time for stockholders to vote on the Share Issuance Proposal related to its merger with Logan Ridge Finance Corporation (LRFC). Current voting shows strong support with over 85% favorability among those who have voted, with 48% of outstanding shares having voted or abstained. The company needs less than 2% more shares to reach the required quorum threshold. Logan Ridge stockholders have already approved the merger at their Special Meeting on June 20, 2025. The record date remains May 6, 2025, and stockholders can vote through virtual means or by contacting Broadridge at 1-833-218-3911.

Portman Ridge Finance Corporation (NASDAQ: PTMN) announced significant corporate changes including rebranding to BCP Investment Corporation (BCIC), transitioning to monthly base distributions in 2026, and implementing value creation initiatives. Following the merger with Logan Ridge Finance Corporation, the company will trade under the ticker BCIC, reflecting its integration with BC Partners Credit Platform. The company plans to maintain its quarterly supplemental distributions at 50% of excess net investment income. In a notable move to enhance shareholder value, the company, management, adviser and affiliates intend to acquire up to 20% of outstanding common stock over 24 months when trading below 80% of NAV ($15.08 based on March 2025 NAV). This represents a 31% premium to the June 16, 2025 closing price. The company has already authorized a $10 million stock repurchase program through March 2026.

Portman Ridge Finance Corporation (PTMN) has rescheduled its Special Meeting of Stockholders from June 6 to June 20, 2025, to allow shareholders more time to vote on the Share Issuance Proposal related to the proposed merger with Logan Ridge Finance Corporation (LRFC). The PTMN Board of Directors unanimously recommends voting "FOR" the merger proposals, and both major proxy advisory firms, ISS and Glass Lewis, have endorsed the merger. Stockholders of record as of May 6, 2025, can participate in the virtual meeting through the company's website or by phone. Those who have already voted need not take further action, and previously submitted proxies will remain valid unless revoked. The company has noted strong support from stockholders who have already cast their votes.

Portman Ridge Finance Corporation (PTMN) reported its Q1 2025 financial results with net investment income of $0.47 per share and net asset value of $18.85 per share. Total investment income was $12.1 million, down from $14.4 million in Q4 2024, primarily due to a portfolio company being placed on non-accrual status. The company deployed approximately $17.5 million while receiving $15.7 million in sales and repayments, resulting in net deployment of $1.8 million. The investment portfolio at fair value was $406.4 million, spread across 93 different portfolio companies. PTMN declared a quarterly base distribution of $0.47 per share, payable on May 29, 2025. The company currently has six debt investments on non-accrual, representing 2.6% of the portfolio at fair value. Management highlighted their disciplined investment strategy amid macroeconomic uncertainties and encouraged shareholders to vote for the proposed acquisition of Logan Ridge Finance Corporation.

Portman Ridge Finance (PTMN) has announced it will release its financial results for the first quarter ended March 31, 2025, on Thursday, May 8, 2025, after market close. The company will host a conference call to discuss the results on Friday, May 9, 2025, at 10:00 a.m. ET.

Investors can access the call by dialing (646) 307-1963 with conference ID 9782758. A replay will be available through May 16, 2025. Additionally, a live audio webcast will be accessible via https://edge.media-server.com/mmc/p/ovseyk3q, with the recording later available in the Investor Relations section of the company's website.

Portman Ridge Finance (PTMN) reported its Q4 and full year 2024 financial results, with net investment income of $2.59 per share for 2024 and NAV of $19.41 per share. Key highlights include:

- Q4 2024 total investment income was $14.4M, down from $15.2M in Q3 2024 and $17.8M in Q4 2023
- Full year 2024 total investment income was $62.4M
- Company repurchased 202,357 shares for $3.8M during 2024, adding $0.07 to NAV per share
- Announced Q1 2025 quarterly base distribution of $0.47 plus $0.07 supplemental distribution per share

The company entered into a merger agreement with Logan Ridge Finance , which aims to create value through enhanced scale and operational efficiencies. The investment portfolio at year-end 2024 was $405.0M across 93 companies in 28 industries, with six investments on non-accrual status representing 1.7% of the portfolio at fair value.