Company to be Renamed “BCP Investment Corporation” and Trade Under New Ticker “BCIC” Transition to Paying the Quarterly Base Distribution Monthly in 2026 Company, Management, Adviser and Other Affiliates Intend to Acquire up to 20% of Common Shares Over Next 24 Months to the Extent the Stock Trades Below 80% of NAV NEW YORK, June 17, 2025 (GLOBE NEWSWIRE) -- Portman Ridge Finance Corporation (NASDAQ: PTMN) (“Portman Ridge” or “PTMN”), today announced several updates and initiatives, aimed at enhancing shar ...

The Company’s Investment Adviser Will Finance an Incremental $0.47 Per Share Payment to Logan Ridge Shareholders Immediately Prior to Closing. Payment Effectively Results in Logan Ridge Shareholders Receiving 100% of NAV as of March 31, 2025 Adjusted for Estimated Transaction Costs. NEW YORK, June 17, 2025 (GLOBE NEWSWIRE) -- Logan Ridge Finance Corporation (NASDAQ: LRFC) (“Logan Ridge” or “LRFC”), today announced that it has entered into an agreement with Mount Logan Management LLC, LRFC’s investment adv ...

Stockholders of PTMN Who Have Voted Thus Far Have Expressed Strong Support for the Proposed Merger Both Leading Independent Proxy Advisors, Institutional Shareholder Services (“ISS”) and Glass Lewis & Co. (“Glass Lewis”), Have Recommended PTMN Stockholders Vote “FOR” the Share Issuance Proposal NEW YORK, June 05, 2025 (GLOBE NEWSWIRE) -- Portman Ridge Finance Corporation (NASDAQ: PTMN) (“Portman Ridge” or “PTMN”) announced today that its Special Meeting of Stockholders (the “PTMN Special Meeting”) will take ...

Stockholders of LRFC Who Have Voted Thus Far Have Expressed Strong Support for the Proposed Merger Both Leading Independent Proxy Advisors, Institutional Shareholder Services (“ISS”) and Glass Lewis & Co. (“Glass Lewis”), Have Recommended LRFC Stockholders Vote “FOR” the Merger Proposal NEW YORK, June 05, 2025 (GLOBE NEWSWIRE) -- Logan Ridge Finance Corporation (NASDAQ: LRFC) (“Logan Ridge” or “LRFC”) announced today that its Special Meeting of Stockholders (the “LRFC Special Meeting”) will take place on Ju ...

NEW YORK, June 03, 2025 (GLOBE NEWSWIRE) -- Portman Ridge Finance Corporation (NASDAQ: PTMN) (“Portman Ridge” or “PTMN”) and Logan Ridge Finance Corporation (NASDAQ: LRFC) (“Logan Ridge” or “LRFC”) (together, the “Companies”) announced today that leading independent proxy advisory firms, Institutional Shareholder Services (“ISS”) and Glass, Lewis & Co. (“Glass Lewis”), have both recommended that LRFC stockholders vote “FOR” the proposed merger of LRFC with and into PTMN at the upcoming LRFC special meeting ...

Financial Performance - Total investment income for Q1 2025 was $12.1 million, down from $16.5 million in Q1 2024, primarily due to a reversal of previously accrued income[3] - Net investment income (NII) for Q1 2025 was $4.3 million ($0.47 per share), compared to $6.2 million ($0.67 per share) in Q1 2024[8] - Total investment income for Q1 2025 was $12.118 million, a decrease of 26.5% from $16.526 million in Q1 2024[35] - Net investment income for Q1 2025 was $4.340 million, down 30.4% from $6.226 million in Q1 2024[35] - Total expenses decreased to $7.778 million in Q1 2025, a reduction of 24.6% compared to $10.300 million in Q1 2024[35] - Net realized and unrealized losses on investments for Q1 2025 amounted to $(4.422) million, compared to $(1.527) million in Q1 2024[35] - The net increase (decrease) in net assets resulting from operations was $(0.082) million in Q1 2025, contrasting with an increase of $4.486 million in Q1 2024[35] - Basic and diluted net investment income per common share for Q1 2025 was $0.47, down from $0.67 in Q1 2024[35] - Management fees for Q1 2025 were $1.466 million, a decrease of 15.2% from $1.729 million in Q1 2024[35] - Performance-based incentive fees dropped to $0.920 million in Q1 2025, down 25.4% from $1.234 million in Q1 2024[35] - Total payment-in-kind income increased to $3.061 million in Q1 2025, up 52.5% from $2.006 million in Q1 2024[35] Asset and Investment Portfolio - Net asset value (NAV) as of March 31, 2025, was $173.5 million ($18.85 per share), a decrease from $178.5 million ($19.41 per share) as of December 31, 2024[3] - The investment portfolio at fair value as of March 31, 2025, was $406.4 million, comprised of 93 different portfolio companies[8] - Total investments at fair value were reported at $406,423,000, slightly up from $405,021,000 in the previous quarter[33] - Debt investments on non-accrual as of March 31, 2025, were six, representing 2.6% of the investment portfolio at fair value[8] Financial Position and Liabilities - As of March 31, 2025, total assets amounted to $438,780,000, a decrease from $453,634,000 as of December 31, 2024[33] - Total liabilities as of March 31, 2025, were $265,269,000, down from $275,141,000 at the end of 2024[33] - The company has a total distributable loss of $(540,979,000) as of March 31, 2025, compared to $(535,930,000) at the end of the previous quarter[33] - The company had $255.4 million in outstanding borrowings with a current weighted average interest rate of 5.9%[12] Interest Rate Sensitivity - The company expects that a 1% increase in interest rates would result in an increase of $1,619,000 in net investment income[17] - Conversely, a 1% decrease in interest rates would lead to a decrease of $1,613,000 in net investment income[17] Corporate Actions and Management - The company encourages shareholders to vote for the proposed merger with Logan Ridge Finance Corporation, which is expected to enhance long-term shareholder value[7] - Portman Ridge Finance Corporation is pursuing a merger with Logan Ridge Finance Corporation, pending stockholder approval[27] - The company continues to focus on disciplined credit selection and prudent risk management amid macroeconomic uncertainties[6] - The company’s investment activities are managed by Sierra Crest Investment Management LLC, an affiliate of BC Partners Advisors L.P.[21] Upcoming Events - The company plans to hold a conference call on May 9, 2025, to discuss Q1 2025 financial results[18]

Portman Ridge Finance (PTMN) Q1 2025 Earnings Call May 09, 2025 10:00 AM ET Company Participants Ted Goldthorpe - CEO & DirectorPatrick Schafer - Chief Investment Officer & DirectorBrandon Satoren - Chief Financial Officer, Secretary & TreasurerErik Zwick - Managing Director, Equity ResearchChristopher Nolan - Senior VP - Equity ResearchSteven Martin - President Conference Call Participants None - Analyst Operator Welcome to Apartment Ridge Finance Corporation's First Quarter Ended 03/31/2025 Earnings Confe ...

Portman Ridge Finance (PTMN) Q1 2025 Earnings Call May 09, 2025 10:00 AM ET Speaker0 Welcome to Apartment Ridge Finance Corporation's First Quarter Ended 03/31/2025 Earnings Conference Call. An earnings press release was distributed yesterday, 05/08/2025, after the close of the market. A copy of the release, along with an earnings presentation, is available on the company's website at www.courtmanridge.com in the Investor Relations section and should be reviewed in conjunction with the company's Form 10 Q f ...

Q1 2025 Earnings Presentation May 9, 2025 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 Portman Ridge Finance Corporation ("PTMN", "Portman Ridge" or the "Company"), that are forward-looking statements are based on current management expectations that involve substantial risks and uncertainties which could cause ...

Portman Ridge (PTMN) came out with quarterly earnings of $0.47 per share, missing the Zacks Consensus Estimate of $0.60 per share. This compares to earnings of $0.67 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -21.67%. A quarter ago, it was expected that this business development company would post earnings of $0.64 per share when it actually produced earnings of $0.60, delivering a surprise of -6.25%.Over the last four qu ...