Portman Ridge Finance, Logan Ridge Finance enter into merger agreement
Written by Emily J. Thompson, Senior Investment Analyst
Proposed Merger Details: Portman Ridge Finance (PTMN) and Logan Ridge Finance Corporation (LRFC) plan to merge, with PTMN as the surviving entity, subject to shareholder approvals. The merger is expected to enhance PTMN's size, trading volume, and access to financing.
Financial Implications: The merger is projected to be immediately accretive to PTMN's net asset value and core net investment income, with LRFC shareholders receiving 1.50 shares of PTMN for each share of LRFC. Additionally, PTMN's external adviser will waive up to $1.5 million in fees post-merger.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
