Portman Ridge(US:PTMN)2025-08-08 14:00Financial Performance - Total investment income for Q2 2025 was $12.63 million, compared to $12.1 million in Q1 2025 and $16.337 million in Q2 2024[11] - Core investment income for Q2 2025 was $12.63 million, compared to $12.102 million in Q1 2025 and $16.225 million in Q2 2024[11] - Net investment income (NII) for Q2 2025 was $4.6 million ($0.50 per share), compared to $4.34 million ($0.47 per share) for Q1 2025 and $6.477 million ($0.70 per share) for Q2 2024[11] - Net asset value (NAV) as of June 30, 2025, was $164.7 million ($17.89 per share), compared to $173.5 million ($18.85 per share) for Q1 2025[11] Portfolio Composition and Activity - Investment portfolio at fair value as of June 30, 2025, was $395.109 million, comprised of 96 different portfolio companies[11] - Deployments of approximately $10.9 million and repayments and sales of approximately $17.0 million, resulting in net repayments and sales of approximately $6.1 million[11] - Debt investments on non-accrual, as of June 30, 2025, were six, representing 2.1% of the Company's investment portfolio at fair value and 4.8% at amortized cost[11] - Weighted average annualized yield, excluding income from non-accruals and collateralized loan obligations, was approximately 10.7% as of June 30, 2025[11] Capital Structure and Distributions - Par value of outstanding borrowings, as of June 30, 2025, was $255.4 million, with an asset coverage ratio of total assets to total borrowings of 165%[11] - Declared a regular quarterly base distribution of $0.47 per share of common stock, and a supplemental cash distribution of $0.02 per share of common stock[11] Recent Developments - The company announced the closing of the merger with Logan Ridge Finance Corporation on July 15, 2025, with the combined company having total assets in excess of $600 million based on July 11, 2025, financial data[9]