LRFC Overview

Merger Announcement: Portman Ridge Finance Corporation has successfully completed its merger with Logan Ridge Finance Corporation, resulting in a combined company with total assets exceeding $600 million. The merged entity will be rebranded as BCP Investment Corporation and will trade under the new ticker symbol "BCIC."

Future Plans and Shareholder Benefits: Following the merger, the company plans to transition to monthly base distributions starting in 2026 and aims to repurchase up to 20% of its outstanding common stock if shares trade below 80% of net asset value, enhancing shareholder value through these initiatives.

Merger Approval: Portman Ridge Finance Corporation (PTMN) received shareholder approval for its merger with Logan Ridge Finance Corporation (LRFC), with approximately 88% of PTMN shareholders voting in favor. The merger is expected to close around July 15, 2025.

Post-Merger Plans: After the merger, the combined entity will be rebranded as BCP Investment Corporation and will implement a monthly distribution framework along with a share repurchase initiative aimed at enhancing shareholder value.

Shareholder Approval for Merger: Logan Ridge Finance (LRFC) received shareholder approval for its all-stock merger with Portman Ridge Finance (PTMN), with 89.4% of voting shareholders supporting the proposal during a special meeting on June 20.

Next Steps for PTMN: The special meeting for PTMN was adjourned and will reconvene on June 27 to allow more time for shareholders to vote on the share issuance related to the merger, with over 85% of those who voted already in favor.

Merger Approval: Logan Ridge Finance Corporation (LRFC) received shareholder approval for its merger with Portman Ridge Finance Corporation (PTMN), with approximately 89.4% of voting shareholders in favor. PTMN's special meeting will reconvene on June 27, 2025, to vote on the issuance of common stock related to the merger.

Strategic Benefits: LRFC and PTMN's CEO expressed gratitude for the support, highlighting that the merger aims to enhance scale, diversification, and access to capital, ultimately generating long-term value for shareholders.

Stockholder Support for Merger: PTMN stockholders have shown strong support for the proposed merger with Logan Ridge, with over 85% favorability among those who have voted so far. The Special Meeting of Stockholders has been adjourned to allow more time for voting, and will reconvene on June 27, 2025.

Logan Ridge Approval: Logan Ridge stockholders approved the merger with Portman Ridge during their meeting on June 20, 2025, marking a significant step towards finalizing the transaction, which still requires PTMN stockholder approval for the Share Issuance Proposal.

Stockholder Support for Merger: PTMN stockholders have shown strong support for the proposed merger with Logan Ridge, with over 85% favorability among those who voted. The Special Meeting has been adjourned to allow more time for voting, with a reconvened meeting scheduled for June 27, 2025.

Logan Ridge Approval: Logan Ridge stockholders approved the merger on June 20, 2025, marking a significant step forward, although the merger still requires PTMN stockholder approval of the Share Issuance Proposal and other customary closing conditions.