Portman Ridge Finance Corporation (NASDAQ:PTMN) Q4 2022 Results Conference Call March 10, 2023 9:00 AM ET Company Participants Ted Goldthorpe - CEO, President & Director Jason Roos - CFO Patrick Schafer - CIO Conference Call Participants Ryan Lynch - KBW Christopher Nolan - Ladenburg Thalmann Operator Welcome to Portman Ridge Finance Corporation's Fourth Quarter and Full Year 2022 Earnings Conference Call. An earnings press release was distributed yesterday, March 9, after market close. A copy of the releas ...

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 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 ...

Portman Ridge Finance Corporation (NASDAQ:PTMN) Q3 2022 Earnings Conference Call November 9, 2022 9:00 AM ET Company Participants Ted Goldthorpe - CEO Patrick Schafer - Chief Investment Officer Jason Roos - CFO Conference Call Participants Christopher Nolan - Ladenburg Thalmann Paul Johnson - KBW Steven Martin - Slater Capital Operator Welcome everyone to the Portman Ridge Third Quarter 2022 Financial Results Conference Call. [Operator Instructions] Thank you. It is now my pleasure to turn the call over to ...

Portman Ridge Finance Corporation (NASDAQ:PTMN) Q2 2022 Earnings Conference Call August 10, 2022 9:00 AM ET Company Participants Ted Goldthorpe - Chief Executive Officer Patrick Schafer - Chief Investment Officer Jason Roos - Chief Financial Officer Conference Call Participants Christopher Nolan - Ladenburg Thalmann & Co. Inc. Ryan Lynch - Keefe, Bruyette, & Woods, Inc. Steven Martin - Slater Capital Management, LLC Operator Welcome to the Portman Ridge Finance Corporation Second Quarter 2022 Earnings Confe ...

PORTMAN 2022 Q2 Earnings Presentation August 10, 2022 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 ...

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, 2022 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 ...

Portman Ridge Finance Corporation (NASDAQ:PTMN) Q1 2022 Earnings Conference Call May 11, 2022 9:00 AM ET Company Participants Ted Goldthorpe – Chief Executive Officer Jason Ross – Chief Financial Officer Patrick Schafer – Chief Investment Officer Conference Call Participants Christopher Nolan – Ladenburg Thalmann Ryan Lynch – Keefe, Bruyette & Woods, Inc. Steven Martin – Slater Capital Investment Operator Good day and thank you for standing by. Welcome to the Portman Ridge first-quarter 2022, Financial Resu ...

Debt Securities and Investment Portfolio - The company has a Debt Securities Portfolio focused on generating current income and capital appreciation from investments in senior secured term loans, mezzanine debt, and selected equity investments in privately-held middle market companies [282]. - The middle market is defined as companies with EBITDA between $10 million and $50 million and/or total debt between $25 million and $150 million [282]. - The company's investments may include "covenant-lite" loans, which carry a higher risk of loss compared to loans with financial maintenance covenants [284]. - Total portfolio fair value as of March 31, 2022, was $568,011,000, an increase from $547,573,000 as of December 31, 2021 [302]. - The investment portfolio was diversified across 30 different industries and 116 different entities, with an average par balance per entity of approximately $3.3 million [309]. - The fair value of Senior Secured Loans increased to $395,062,000 as of March 31, 2022, from $364,701,000 as of December 31, 2021 [303]. - The company’s investment in Joint Ventures was valued at $60,217,000 as of March 31, 2022, consistent with the previous period [303]. - The healthcare and pharmaceuticals sector accounted for 8% of the total portfolio fair value as of March 31, 2022, down from 11% as of December 31, 2021 [306]. - As of March 31, 2022, six investments were on non-accrual status, a decrease from seven as of December 31, 2021 [309]. - The company had approximately $29.1 million invested in CLO Fund Securities as of March 31, 2022, down from $31.6 million as of December 31, 2021 [312]. Acquisitions and Corporate Actions - The company completed the acquisition of Garrison Capital Inc. (GARS) on October 28, 2020, with GARS stockholders receiving approximately $1.19 in cash and 1.917 shares of the company's common stock for each share of GARS [290]. - The company acquired Harvest Capital Credit Corporation (HCAP) on June 9, 2021, with HCAP stockholders receiving $18.54 million in cash and 15,252,453 shares of the company's common stock [292]. - The company assumed $28.75 million in aggregate principal amount of HCAP's 6.125% Notes due September 15, 2022, as part of the HCAP acquisition [294]. - A reverse stock split of 1-for-10 was executed on August 26, 2021, reducing the number of authorized shares from 100 million to 20 million [299]. Financial Performance and Income - The investment income for the three months ended March 31, 2022, was approximately $16.944 million, a decrease from $18.305 million in the same period of 2021 [335]. - The net investment income for KCAP Freedom 3 LLC for the three months ended March 31, 2022, was $1.740 million, compared to $1.519 million in 2021 [323]. - The total equity of KCAP Freedom 3 LLC decreased to $34.177 million as of March 31, 2022, from $35.677 million as of December 31, 2021 [321]. - The net income for KCAP Freedom 3 LLC for the three months ended March 31, 2022, was $217,000, a significant decrease from $3.285 million in the same period of 2021 [323]. - The investment income attributable to interest income on the Debt Securities Portfolio was approximately $13.0 million for the three months ended March 31, 2022, down from $15.2 million in 2021 [337]. - For the three months ended March 31, 2022, core investment income was approximately $15.1 million, an increase of 12.5% from $13.5 million in the same period of 2021 [340]. - Investment income from CLO Fund Securities was approximately $1.6 million for Q1 2022, compared to $617 thousand in Q1 2021, reflecting a significant increase of 158% [341]. Expenses and Liabilities - Total expenses for the three months ended March 31, 2022, were approximately $9.0 million, a decrease of 10.5% from $10.1 million in the same period of 2021 [349]. - Net investment income for Q1 2022 was approximately $2.4 million, or $0.24 per share, down from $3.1 million, or $0.41 per share in Q1 2021 [352]. - The company had approximately $352.4 million of outstanding borrowings with an asset coverage ratio of 180%, exceeding the minimum requirement of 150% under the 1940 Act [358]. - The company declared a total dividend of $0.63 in 2022, compared to $2.42 in 2021 [1]. - The company’s long-term debt obligations total $352.4 million, with $80.6 million due within one year [382]. Valuation and Investment Methodologies - The company's investments are primarily classified as Level III, indicating significant management judgment in valuation [389]. - Fair value of investments is determined based on market conditions, financial performance, and comparable transactions [394]. - The company utilizes a discounted cash flow model for valuing its wholly-owned Asset Manager Affiliates [392]. - The company’s valuation methodologies may involve significant management judgment and assumptions about market conditions [397]. - An independent valuation firm is engaged to provide third-party valuation consulting services, reviewing material investments in illiquid securities at least once every 12 months [416]. Strategic Intent and Future Outlook - The company intends to distribute substantially all of its net ordinary taxable income to stockholders to maintain its status as a regulated investment company (RIC) [285]. - The company may evaluate strategic opportunities including mergers, divestitures, and joint ventures depending on market conditions [286]. - The company intends to continue making quarterly distributions to stockholders, aiming to distribute at least 98% of ordinary net taxable income to avoid excise taxes [371][375]. - The company is required to maintain adequate liquidity to cover normal cyclical swings in funding availability and unexpected funding requirements [357]. - The company may borrow amounts up to 5% of total assets for temporary purposes, in addition to the leverage limits set by the 1940 Act [358]. - The company is prohibited from declaring dividends if its asset coverage is below the required threshold, ensuring compliance with the 1940 Act [374].

Portman Ridge Finance Corporation (NASDAQ:PTMN) Q4 2021 Results Conference Call March 11, 2022 9:00 AM ET Company Participants Serena Liegey - The Equity Group Inc. Ted Goldthorpe - Chief Executive Officer Jason Roos - Chief Financial Officer Patrick Schafer - Chief Investment Officer Conference Call Participants Christopher Nolan - Ladenburg Thalmann Ryan Lynch - KBW Steven Martin - Slater Operator Good day, and thank you for standing by. Welcome to the Portman Ridge Fourth Quarter 2021 Financial Results C ...

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, 2021 ☐ 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) (State or other jurisdiction of incorporation or organi ...