Investment Strategy - The company primarily invests in illiquid securities, including loans and equity of private companies, with a focus on distressed debt securities [98]. - The company carries its investments at fair value, which may differ materially from market values due to the inherent uncertainty in determining fair value for illiquid investments [448]. - An independent valuation firm is engaged to provide third-party valuation consulting services, reviewing material investments in illiquid securities at least once during a trailing 12-month period [449]. - The fair value pricing of investments considers factors such as collateral value, third-party valuations, portfolio company earnings, and market comparisons [448]. Regulatory Compliance - The company must maintain at least 70% of its total assets in qualifying assets as defined by the 1940 Act [104]. - The asset coverage requirement for senior securities was changed from 200% to 150% effective March 29, 2019 [107]. - The company is subject to examination by the SEC for compliance with the 1940 Act [116]. - The company is prohibited from indemnifying any director or officer against liability arising from willful misfeasance or gross negligence [116]. - The company may incur a U.S. federal excise tax if it fails to meet the Excise Tax Avoidance Requirement, which is based on specific distribution criteria [120]. - The company is subject to a 4% nondeductible U.S. federal excise tax on undistributed income unless it meets the Excise Tax Avoidance Requirement [120]. Taxation and Distributions - The company is required to distribute at least 90% of its investment company taxable income to qualify for RIC tax treatment [118]. - If the company fails to qualify as a RIC, it would be subject to corporate tax on all taxable income at regular rates, impacting distributions to stockholders [129]. - The company may need to recognize taxable income without receiving cash, which could necessitate distributions to satisfy the Annual Distribution Requirement [123]. - The company is authorized to borrow funds to satisfy the Annual Distribution Requirement and to eliminate U.S. federal income and excise tax liabilities [124]. - The company has adopted a dividend reinvestment plan allowing stockholders to reinvest distributions in additional shares of common stock [130]. Interest Rate Sensitivity - As of December 31, 2024, approximately 90.1% of the Debt Securities Portfolio were floating rate, with a weighted average interest rate of 6.2% on $267.5 million of borrowings [441]. - A 1% increase in interest rates would increase net investment income by approximately $1.5 million annually, while a 2% increase would raise it by about $3.0 million, and a 3% increase would result in an increase of approximately $4.6 million [445]. - A 1% decrease in interest rates would lead to a decrease in net investment income of approximately ($1.5) million, while a 2% and 3% decrease would result in decreases of approximately ($3.0) million and ($4.3) million, respectively [446]. - 89.8% of floating rate loans in the portfolio contain interest rate floors ranging from 0.50% to 5.25% [441]. Competition and Management - The company faces competition from commercial investment banks, specialty finance companies, hedge funds, and other BDCs, which may have lower funding costs and greater managerial resources [99]. - The company has no employees since externalization and does not expect to have any in the future [100]. - The company has adopted a code of ethics to establish procedures for personal investments and restrict certain personal securities transactions [109]. - The company may not change its business nature without approval from a majority of its outstanding voting securities [103]. - Management acknowledges that actual results may materially differ from simulated outcomes due to potential changes in credit quality and asset composition [447].

Core Viewpoint - Halper Sadeh LLC is investigating potential violations of federal securities laws and breaches of fiduciary duties related to the merger between Portman Ridge Finance Corporation and Logan Ridge Finance Corporation [1][2]. Group 1: Company Actions - Portman Ridge Finance Corporation is set to acquire Logan Ridge Finance Corporation, offering 1.50 newly issued shares of Portman common stock for each share of Logan Ridge common stock [2]. - Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures, and other relief on behalf of shareholders regarding the proposed transaction [3]. Group 2: Shareholder Rights - Shareholders of both Portman Ridge and Logan Ridge are encouraged to contact Halper Sadeh LLC to discuss their legal rights and options free of charge [4].

Group 1 - Kuehn Law, PLLC is investigating potential claims related to proposed mergers involving several companies, focusing on whether the Boards acted to maximize shareholder value, failed to disclose material information, and conducted a fair process [1] - Portman Ridge Finance Corporation has entered into a definitive agreement to acquire Logan Ridge Finance Corporation, with Logan Ridge shareholders receiving 1.5 newly issued Portman Ridge shares for each share they own [3] - Air Transport Services Group, Inc. has agreed to be acquired by Stonepeak for $22.50 per share in cash, with the acquisition expected to complete in the first half of 2025, after which Air Transport stock will cease trading on NASDAQ [3] - Retail Opportunity Investments Corp. has agreed to be acquired by Blackstone for $17.50 per share, with the transaction expected to close in the first quarter of 2025 [3] Group 2 - Kuehn Law emphasizes the importance of shareholder participation in safeguarding interests and encourages concerned shareholders to contact the firm, noting that all case costs are covered by Kuehn Law [2] - Shareholders are advised to act promptly as legal rights may be time-sensitive, highlighting the urgency of involvement in shareholder cases [2]

Group 1 - Monteverde & Associates PC is investigating Portman Ridge Finance Corporation regarding its proposed merger with Logan Ridge Finance Corporation [1] - Under the merger agreement, shareholders of Logan Ridge will receive 1.50 newly issued shares of Portman Ridge common stock for each share of Logan Ridge common stock they own [1] - Monteverde & Associates PC has a successful track record in recovering millions of dollars for shareholders and is recognized as a Top 50 Firm by ISS Securities Class Action Services Report [1][2] Group 2 - The firm operates from the Empire State Building in New York City and is a national class action securities firm [2] - Monteverde & Associates PC emphasizes that no company, director, or officer is above the law, and encourages shareholders with concerns to reach out for additional information [3]

Core Points - Portman Ridge Finance Corporation will release its financial results for Q4 and the full year ended December 31, 2024, on March 13, 2025, after market close [1] - A conference call to discuss these results is scheduled for March 14, 2025, at 10:30 a.m. ET [1] Company Overview - Portman Ridge Finance Corporation is a publicly traded, externally managed investment company regulated as a business development company under the Investment Company Act of 1940 [4] - The company focuses on middle market investments, including term loans, mezzanine investments, and selected equity securities [4] - Investment activities are managed by Sierra Crest Investment Management LLC, an affiliate of BC Partners Advisors, LP [4] Accessing Information - The conference call can be accessed by phone or via a live audio webcast [2][3] - A replay of the conference call will be available until March 21, 2025 [2] - Financial and operational information can be found on the company's website [5]

Core Viewpoint - Portman Ridge Finance Corporation and Logan Ridge Finance Corporation are exploring a potential business combination, with independent special committees established to evaluate the process and possible exchange ratios [1][2]. Company Overview - Portman Ridge Finance Corporation is a publicly traded investment company regulated as a business development company, focusing on middle market investments, including term loans and mezzanine investments [4]. - Logan Ridge Finance Corporation is also a publicly traded investment company regulated as a business development company, primarily investing in first lien loans and equity securities in lower middle market companies [6]. Advisory and Legal Counsel - Portman Ridge's special committee has engaged Keefe, Bruyette & Woods, Inc. as its financial advisor and Stradley Ronon Stevens & Young, LLP as legal counsel [2]. - Logan Ridge's special committee has retained Houlihan Lokey, Inc. as its financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP as legal counsel [2]. Regulatory Filings - Both companies have filed relevant documents with the SEC regarding the potential business combination, and further developments will be disclosed as deemed appropriate [3][13].

Exhibit 99.1 FOR IMMEDIATE RELEASE Portman Ridge Finance Corporation Announces Third Quarter 2024 Financial Results Reports Net Investment Income of $0.63 Per Share and Net Asset Value of $20.36 Per Share Recurring PIK Income as a Percentage of Total Investment Income Declines by Over 200 Basis Points Continued Share Repurchase Program: Total of 33,429 Shares for an Aggregate Cost of Approximately $0.6 Million Repurchased During the Third Quarter; Accretive to NAV by $0.01 Per Share Announces Fourth Quarter ...

Portman Ridge Finance Corporation (NASDAQ:PTMN) Q3 2024 Earnings Conference Call November 12, 2024 10:00 AM ET Company Participants Ted Goldthorpe - Chief Executive Officer, President & Director Patrick Schafer - Chief Investment Officer Brandon Satoren - Chief Financial Officer Conference Call Participants Christopher Nolan - Ladenburg Thalmann Steven Martin - Slater Capital Paul Johnson - KBW Operator Welcome to Portman Ridge Finance Corporation's Third Quarter 2024 Earnings Conference Call. An earnings p ...

PORTMAN Q3 2024 Earnings Presentation November 12, 2024 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 whi ...

Portman Ridge (PTMN) came out with quarterly earnings of $0.63 per share, missing the Zacks Consensus Estimate of $0.70 per share. This compares to earnings of $0.75 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -10%. A quarter ago, it was expected that this business development company would post earnings of $0.69 per share when it actually produced earnings of $0.70, delivering a surprise of 1.45%.Over the last four quarte ...