Logan Ridge Finance Corporation. (NASDAQ:LRFC) Q2 2023 Earnings Conference Call August 10, 2023 10:00 AM ET Company Participants Ted Goldthorpe - President and Chief Executive Officer Patrick Schafer - Chief Investment Officer Jason Roos - Chief Financial Officer Conference Call Participants Christopher Nolan - Ladenburg Thalmann Steven Martin - Slater Operator Thank you. Good morning, and welcome to Logan Ridge Finance Corporation's Second Quarter Ended June 30, 2023 Earnings Conference Call. An earnings p ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q | x Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 | | | | | --- | --- | --- | --- | | For the quarterly period ended June 30, 2023 | | | | | ¨ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 | | | | | Exact name of registrant as specified in its charter, | | | | | Commission address of principal executive office, telephone number, and | | | I.R. ...

Logan Ridge Finance Corporation (NASDAQ:LRFC) Q1 2023 Earnings Conference Call May 11, 2023 10:00 AM ET Company Participants Ted Goldthorpe - President and Chief Executive Officer Patrick Schafer - Chief Investment Officer Jason Roos - Chief Financial Officer Conference Call Participants Christopher Nolan - Ladenburg Thalmann & Co. Steven Martin - Slater Capital Management LLC Operator Thank you. Good morning, and welcome to Logan Ridge Finance Corporation's First Quarter Ended March 31, 2023 Earnings Confe ...

Since early 2022, the Company commenced several initiatives aiming to increase quarterly earnings as described below. NASDAQ:LRFC | 12 | --- | --- | --- | --- | --- | |------------------|---------|----------------|----------------|------------------------| | Declaration Date | Quarter | Record Date | Payment Date | Distribution per share | | May 10, 2023 | Q2 2023 | May 22, 2023 | May 31, 2023 | $0.22 | | March 9, 2023 | Q1 2023 | March 20, 2023 | March 31, 2023 | $0.18 | Total Number of Shares Purchased as ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q | x Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 | | | --- | --- | | For the quarterly period ended March 31, 2023 | | | ¨ | Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 | | Exact name of registrant as specified in its charter, | | | Commission I.R.S. Employer | address of principal executive office, telephone number, and | | File Number Ide ...

Logan Ridge Finance Corporation (NASDAQ:LRFC) Q4 2022 Earnings Conference Call March 10, 2023 10:00 AM ET Company Participants Ted Goldthorpe - Chief Executive Officer, President & Director Patrick Schafer - Chief Investment Officer Jason Roos - Chief Financial Officer Conference Call Participants Christopher Nolan - Ladenburg Thalmann Steven Martin - Slater Capital Operator Thank you. Good morning and welcome to Logan Ridge Finance Corporation's Full Year and Fourth Quarter Ended December 31, 2022 Earnings ...

2022 Q4 Earnings Presentation LRFCTM March 10, 2023 Important Information Cautionary Statement Regarding Forward-Looking Statements This presentation contains forward-looking statements. The matters discussed in this presentation, as well as in future oral and written statements by management of Logan Ridge Finance Corporation ("LRFC", "Logan Ridge" or the "Company"), that are forward-looking statements are based on current management expectations that involve substantial risks and uncertainties which could ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Fiscal Year Ended December 31, 2022 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 | Commission Exact name of registrant as specified in its charter, address of principal executive I.R.S. Employer | | --- | | File Number office, telephone number and state or other jurisdiction of incorporat ...

Logan Ridge Finance Corporation (NASDAQ:LRFC) Q3 2022 Results Conference Call November 9, 2022 10:00 AM ET Company Participants Ted Goldthorpe - President and Chief Executive Officer Jason Roos - Chief Financial Officer Patrick Schafer - Chief Investment Officer Conference Call Participants Christopher Nolan - Ladenburg Thalmann Steven Martin - Slater Operator Good morning and welcome to Logan Ridge Finance Corporation's Third Quarter Ended September 30, 2022 Earnings Conference Call. An earnings press rele ...

Financial Performance - Total investment income for the three months ended September 30, 2022, increased by $0.4 million, or 11.2%, to $3.748 million compared to $3.372 million in the same period of 2021[263]. - For the nine months ended September 30, 2022, total investment income decreased by $3.0 million, or 22.1%, to $10.389 million compared to $13.342 million in the same period of 2021[264]. - Operating expenses for the three months ended September 30, 2022, decreased by $1.3 million, or 27.0%, to $3.566 million compared to $4.882 million in the same period of 2021[265]. - For the nine months ended September 30, 2022, operating expenses decreased by $3.4 million, or 21.9%, to $12.186 million compared to $15.601 million in the same period of 2021[266]. - The company recorded a net decrease in net assets resulting from operations of $3.0 million for the three months ended September 30, 2022, and $8.9 million for the nine months ended September 30, 2022[269]. - The company recognized $5.2 million of net realized losses and $10.3 million of net realized gains on portfolio investments during the three and nine months ended September 30, 2022, respectively[267]. - The net change in unrealized appreciation (depreciation) on investments was $2.0 million for the three months ended September 30, 2022, and $(17.3) million for the nine months ended September 30, 2022[268]. Investment Portfolio - As of September 30, 2022, the fair value of the investment portfolio was approximately $193.1 million, consisting of investments in 54 portfolio companies[249]. - The debt investment portfolio represented 79.4% of the total portfolio fair value, with a weighted average annualized yield of approximately 8.9% as of September 30, 2022[254]. - As of September 30, 2022, 6.0% of the investment portfolio's fair value was in non-accrual status, with an aggregate fair value of $8.9 million[257]. - The portfolio composition by industry as of September 30, 2022, showed healthcare investments at $33.3 million, representing 17.3% of the total portfolio[258]. - The fair value of first lien debt investments was $119.4 million, representing 61.9% of the total portfolio fair value as of September 30, 2022[258]. Financial Obligations and Capital Structure - The Company had approximately $83.8 million in repayments and sales during the nine months ended September 30, 2022, resulting in net repayments of less than $0.1 million[253]. - Total contractual obligations as of September 30, 2022, amounted to $110.8 million, including $50.0 million for 2026 Notes and $15.0 million for 2032 Convertible Notes[288]. - The Company issued $15.0 million in aggregate principal amount of 5.25% fixed-rate convertible notes due April 1, 2032[273]. - The Company issued $50.0 million in 2026 Notes with a fixed interest rate of 5.25%, maturing on October 30, 2026[277]. - The Company had approximately $50.0 million in aggregate principal amount of 2026 Notes outstanding as of September 30, 2022[279]. - The Company redeemed $50.0 million of the 2022 Notes on December 6, 2021, and had no 2022 Notes outstanding as of September 30, 2022[280]. - As of September 30, 2022, the company had drawn $45.8 million from the KeyBank Credit Facility, with an aggregate principal amount of up to $75.0 million available[272]. - The outstanding amount on the KeyBank Credit Facility was $45.8 million, with a variable interest rate of one-month SOFR + 2.90% and an interest rate floor of 0.40%[304]. Tax and Regulatory Compliance - The company has a requirement to distribute at least 90% of its net ordinary income to maintain RIC tax treatment[199]. - The company must distribute at least 90.0% of its investment company taxable income to qualify as a RIC under U.S. federal tax law[240]. - The company will incur a 4.0% excise tax on undistributed income if it does not distribute at least 98.0% of its ordinary income in any calendar year[240]. - The tax years ended December 31, 2021, 2020, 2019, and 2018 remain subject to examination by tax authorities[242]. Valuation and Accounting Policies - The company has identified investment valuation, revenue recognition, and income taxes as its most critical accounting estimates[217]. - The company records investment transactions on the trade date, with realized gains or losses calculated using the specific identification method[218]. - The fair value of investments may fluctuate significantly from period to period due to inherent uncertainties[223]. - The company utilizes a multi-step valuation process, including market quotes, recent trading activity, and discounted cash flows[222]. - The company recognizes interest income on an accrual basis, including paid-in-kind (PIK) interest, to the extent that amounts are expected to be collected[233]. - Non-accrual investments are reviewed when they become 90 days or more past due, ceasing interest income recognition if the borrower cannot service its debt[234]. - The company recorded a valuation allowance on deferred tax assets of $2.9 million as of September 30, 2022, compared to $2.5 million as of December 31, 2021[248]. - The company recognized an increase in the valuation allowance of $0.4 million during the nine months ended September 30, 2022[248]. Risk Factors - The company is subject to financial market risks, particularly changes in interest rates, which may impact its cost of funding and interest income[303]. - In a prolonged low interest rate environment, the company's net interest income may be adversely affected due to the compression of interest income and expenses[306]. - The company’s net investment income is sensitive to changes in market interest rates, which could have a material adverse effect on its financial performance[305]. - A 300 basis point increase in interest rates could result in a net income increase of $2.56 million, while a 300 basis point decrease could lead to a net income decrease of $1.95 million[307]. - The company did not engage in hedging activities for the nine months ended September 30, 2022, exposing it to interest rate fluctuations[303]. Corporate Structure and Governance - The company was formed to expand the business of Legacy Funds through additional debt and equity investments[200]. - The company is regulated as a business development company under the Investment Company Act of 1940[195]. - The company has consolidated financial statements that include its wholly owned subsidiaries[214]. - The Investment Advisory Agreement allows the Investment Advisor to charge a Base Management Fee and an Incentive Fee[296]. - The Company entered into a new Administration Agreement with BC Partners Management LLC on July 1, 2021, for administrative services[300]. - The company evaluates strategic opportunities, including potential mergers with affiliated funds[205]. Cash and Liquidity - The Company had $11.3 million in cash and cash equivalents as of September 30, 2022[285]. - The company had outstanding unfunded commitments related to debt investments totaling $2.4 million to Accordion Partners LLC and $3.1 million to Critical Nurse Staffing, among others, amounting to a total of $12.5 million[301]. - The company held 38 securities with a variable interest rate, representing approximately 76.3% of the fair value of total debt investments as of September 30, 2022[304]. - All other interest-paying liabilities, including $50.0 million in 2026 Notes and $15.0 million in 2032 Convertible Notes, were bearing interest at a fixed rate as of September 30, 2022[304].