UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 814-00735 Portman Ridge Finance Corporation (Exact name of Registrant as specified in its charter) Delaware 20-5951150 (State or other jurisdiction o ...

NEW YORK, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Portman Ridge Finance Corporation (Nasdaq: PTMN) (“Portman Ridge” or the “Company”) to release its financial results for the third quarter ended September 30, 2024, on Thursday, November 7, 2024, after market close. The Company will host a conference call on Tuesday, November 12, 2024, at 10:00 a.m. ET to discuss these results. By Phone:To access the call, please dial (646) 307-1963 approximately 10 minutes prior to the start of the conference call and use the con ...

Exhibit 99.1 FOR IMMEDIATE RELEASE Portman Ridge Finance Corporation Announces Second Quarter 2024 Financial Results Reports Net Investment Income of $0.70 Per Share and Net Asset Value of $21.21 Per Share Amends and Extends Existing Senior Secured Revolving Credit Facility; Upsizes Commitments to $200.0 Million from $115.0 Million, Reduces Interest Rate Margin to 2.50% from 2.80% Continued Share Repurchase Program: Total of 79,722 Shares for an Aggregate Cost of Approximately $1.6 Million Repurchased Durin ...

Financial Data and Key Metrics Changes - The company reported net investment income of $6.5 million or $0.70 per share, an increase of $300,000 or $0.03 per share compared to the prior quarter [3][16] - Total investment income for Q2 2024 was $16.3 million, down from $16.5 million in Q1 2024, primarily due to lower interest income [14] - The net asset value decreased to $196.4 million or $21.21 per share, a decline of $14.2 million or $1.36 per share from the previous quarter [16] Business Line Data and Key Metrics Changes - The investment portfolio remained diversified across 28 industries and 75 unique portfolio companies, with an average par balance of $2.6 million [4][10] - The company made only two new investments during the quarter, totaling $7.3 million, while most additions were incremental capital to existing portfolio companies [8][10] Market Data and Key Metrics Changes - Private credit spreads for borrowers with greater than $100 million of EBITDA have declined by approximately 75 basis points since the beginning of the year [7] - The company experienced net repayments and sales of approximately $18.2 million during the quarter, with originations lower than the previous quarter [9][10] Company Strategy and Development Direction - The company amended and extended its senior secured revolving credit facility with JPMorgan, increasing the facility size by $85 million to $200 million and reducing the applicable margin [5][18] - The strategy focuses on maintaining a well-diversified portfolio while being selective with new investment opportunities [7][8] Management's Comments on Operating Environment and Future Outlook - Management noted that the macro trends from Q1 continued into Q2, with increased new deal activity and a competitive syndicated market [6] - The company remains confident in its business position and believes it can deliver strong returns for shareholders in the latter half of 2024 [19] Other Important Information - The Board of Directors approved a $0.69 per share distribution for Q3 2024, representing a 13% annualized return on net asset value [6] - The company repurchased 79,722 shares for an aggregate cost of $1.6 million during the quarter, which was accretive to net asset value [6] Q&A Session Summary Question: What was the driver for the realized loss and the unrealized depreciation? - The primary driver for unrealized loss was QualTek, which was exited shortly after the quarter-end, leading to a write-down [19][20] Question: Can you provide perspective on the BDC M&A market? - Management indicated that while there is strategic activity in the broader asset space, the BDC space remains relatively quiet [23][24] Question: Is there anything broader impacting the high-tech industry in the portfolio? - Management noted longer sales cycles and competition from AI spending affecting traditional software budgets [25] Question: What is the status of PIK income? - PIK income has been flat, with a mix of penalty and extra income, and recent deals have included structured equity solutions [34][36] Question: Are there any trends in amendments, extensions, or waivers? - There has not been a material pickup in amendment and waiver activity, with the market normalizing [33]

Portman Ridge (PTMN) came out with quarterly earnings of $0.70 per share, beating the Zacks Consensus Estimate of $0.69 per share. This compares to earnings of $0.83 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 1.45%. A quarter ago, it was expected that this business development company would post earnings of $0.74 per share when it actually produced earnings of $0.67, delivering a surprise of -9.46%. Over the last four qu ...

Reports Net Investment Income of $0.70 Per Share and Net Asset Value of $21.21 Per Share Amends and Extends Existing Senior Secured Revolving Credit Facility; Upsizes Commitments to $200.0 Million from $115.0 Million, Reduces Interest Rate Margin to 2.50% from 2.80% Continued Share Repurchase Program: Total of 79,722 Shares for an Aggregate Cost of Approximately $1.6 Million Repurchased During the Second Quarter; Accretive to NAV by $0.03 Per Share Announces Third Quarter 2024 Quarterly Distribution of $0.6 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 814-00735 Portman Ridge Finance Corporation (Exact name of Registrant as specified in its charter) Delaware 20-5951150 (State or other jurisdiction of Inc ...

Reduces Interest Rate Margin to 2.50% from 2.80% Under the terms of the amendment, there was a committed increase to the aggregate principal amount of the Credit Facility in an amount not to exceed $85.0 million, for a total of $200.0 million, the applicable margin was reduced from 2.80% per annum to 2.50% per annum, and there was a committed seven-day bridge advance in an aggregate principal amount of approximately $18.3 million. Additionally, the reinvestment period was extended from April 29, 2025 to Aug ...

Core Viewpoint - Portman Ridge Finance Corporation has amended and extended its senior secured revolving credit facility, increasing commitments and reducing interest rate margins, which may enhance its financial flexibility and investment capacity [6][11]. Group 1: Credit Facility Amendments - The company has increased the aggregate principal amount of its credit facility from $115.0 million to $200.0 million [8][11]. - The applicable interest rate margin has been reduced from 2.80% to 2.50% per annum [11]. - A committed seven-day bridge advance of approximately $18.3 million has been included in the terms of the amendment [11]. Group 2: Refinancing and Maturity Extensions - The refinancing of Senior Secured Notes due November 20, 2029, will occur in connection with the increased credit facility, eliminating approximately $18.3 million of the notes and refinancing $85.0 million [9][11]. - The reinvestment period has been extended from April 29, 2025, to August 29, 2026, and the maturity date has been extended from April 29, 2026, to August 29, 2027 [11]. Group 3: Company Overview - Portman Ridge Finance Corporation is a publicly traded investment company regulated as a business development company under the Investment Company Act of 1940, focusing on middle market investments [7]. - The company manages a portfolio that includes term loans, mezzanine investments, and selected equity securities in middle market companies [7].

By Phone: To access the call, please dial (646) 307-1963 approximately 10 minutes prior to the start of the conference call and use the conference ID 9474953. A live audio webcast of the conference call can be accessed via the Internet, on a listen-only basis at https://edge.media-server.com/mmc/p/zqckbjgv. The online archive of the webcast will be available on the Company's website shortly after the call at www.portmanridge.com in the Investor Relations section under Events and Presentations. By Webcast: P ...