Portman Ridge Announces Adjournment of Special Meeting of Stockholders to Allow Additional Time for Stockholders to Vote “FOR” the Share Issuance Proposal

Core Viewpoint - The stockholders of Portman Ridge Finance Corporation (PTMN) have shown strong support for the proposed merger with Logan Ridge Finance Corporation (LRFC), with over 85% favorability among those who have voted thus far [1][3]. Group 1: Special Meeting and Voting - The PTMN Special Meeting was adjourned on June 20, 2025, and will reconvene on June 27, 2025, allowing stockholders more time to vote on the Share Issuance Proposal related to the merger [2][3]. - As of the adjournment, over 48% of PTMN's outstanding shares had voted or abstained, with less than 2% of shares outstanding still needing to vote to meet the quorum requirement [3][5]. - The Board of Directors of PTMN unanimously recommends that stockholders vote "FOR" the Share Issuance Proposal [3]. Group 2: Merger Approval - On June 20, 2025, stockholders of Logan Ridge approved the merger with Portman Ridge, marking a significant milestone in the transaction [4]. - The merger is contingent upon PTMN stockholders approving the Share Issuance Proposal and fulfilling other customary closing conditions [4]. Group 3: Company Background - Portman Ridge Finance Corporation is a publicly traded, externally managed closed-end investment company regulated as a business development company under the Investment Company Act of 1940, focusing on middle market investments [7]. - Logan Ridge Finance Corporation primarily invests in first lien loans and equity securities issued by lower middle-market companies, employing fundamental credit analysis [9].