Logan Ridge Finance CORP
Market Movers (8-K)
Logan Ridge Finance Corporation has completed its merger with Portman Ridge Finance Corporation, resulting in its delisting from NASDAQ and the conversion of its shares into Portman Ridge common stock.
Logan Ridge Finance Corporation shareholders have overwhelmingly approved the merger with Portman Ridge Finance Corporation, moving the transaction closer to completion.
Delay expected
Logan Ridge Finance Corporation announced a new agreement with its investment adviser, Mount Logan Management LLC, to provide a pre-closing cash payment of $0.47 per share to shareholders, ensuring 100% of Net Asset Value upon merger with Portman Ridge Finance Corporation.
Better than expected
Independent proxy advisory firms Glass Lewis and ISS have recommended that shareholders of both Portman Ridge Finance Corporation (PTMN) and Logan Ridge Finance Corporation (LRFC) vote in favor of their proposed merger.
Better than expected
8-K: Logan Ridge Finance Corp. Announces Q1 2025 Results: NII at $0.35 Per Share, Merger Vote Encouraged
Logan Ridge Finance Corporation reports its Q1 2025 financial results, highlighting net investment income of $0.35 per share and urging investors to vote in favor of the merger with Portman Ridge Finance Corporation.
Worse than expected
Logan Ridge Finance Corporation announces positive financial results for Q4 and full year 2024, highlighted by increased net investment income and a strategic merger with Portman Ridge Finance Corporation.
Better than expected
Quarterly Earnings (10-Q)
10-Q: Logan Ridge Finance Reports Q1 2025 Results: Portfolio Value Declines Amidst Strategic Merger Plans
Logan Ridge Finance Corporation's Q1 2025 results reveal a decrease in portfolio value and a net decrease in net assets, while the company progresses with a planned merger with Portman Ridge Finance Corporation.
Worse than expected
10-Q: Logan Ridge Finance Corp. Reports Q3 2024 Results: Portfolio Value Declines Amidst Market Volatility
Logan Ridge Finance Corporation's Q3 2024 results show a decrease in portfolio value and a net decrease in assets resulting from operations.
Worse than expected
10-Q: Logan Ridge Finance Corp. Reports Second Quarter 2024 Results, Portfolio Value at $195.6 Million
Logan Ridge Finance Corporation's second quarter 2024 results show a portfolio valued at $195.6 million, with a net decrease in net assets resulting from operations of $0.7 million.
Worse than expected
10-Q: Logan Ridge Finance Corp. Reports First Quarter 2024 Results, Portfolio Value at $200.1 Million
Logan Ridge Finance Corporation's first quarter 2024 results show a net increase in net assets resulting from operations of $1.9 million and a portfolio value of $200.1 million.
Worse than expected
Annual Reports (10-K)
Logan Ridge Finance Corporation files an amendment to its annual report on Form 10-K to include previously omitted information regarding directors, executive officers, corporate governance, executive compensation, security ownership, related transactions, director independence, and principal accountant fees.
Logan Ridge Finance Corporation's 2024 10-K filing details the company's investment portfolio, financial performance, and key strategic activities, including a pending merger with Portman Ridge Finance Corporation.
Logan Ridge Finance Corporation restated its 2022 and 2021 financial statements after determining it did not qualify as a regulated investment company (RIC) for those years, citing a material weakness in internal controls.
Worse than expected
Logan Ridge Finance Corporation restated its 2021 financial statements after determining it did not qualify as a regulated investment company (RIC) for tax purposes during 2020, 2021 and 2022.
Worse than expected
Portman Ridge Finance Corporation and Logan Ridge Finance Corporation have adopted a new code of ethics to prevent affiliated persons from engaging in fraudulent or manipulative practices.
Insider Trading (Form 4)
Brandon Satoren, Chief Financial Officer of Logan Ridge Finance Corporation, disposed of 35 shares of common stock on July 15, 2025, as a result of the company's merger with Portman Ridge Finance Corporation.
Patrick Schafer, Chief Investment Officer and Director of Logan Ridge Finance Corp., disposed of all his common stock holdings in LRFC as a result of the company's merger with Portman Ridge Finance Corporation.
Edward J. Goldthorpe, President and CEO of Logan Ridge Ridge Finance Corp., reported the conversion of 836 shares of LRFC common stock into Portman Ridge Finance Corporation common stock as part of a merger agreement.
Portman Ridge Finance Corporation has adjourned its Special Meeting of Stockholders to June 27, 2025, to allow additional time for stockholders to vote on the share issuance proposal for its merger with Logan Ridge Finance Corporation, which Logan Ridge stockholders have already approved.
Worse than expected
Delay expected
Logan Ridge Finance Corporation has entered into a Side Letter Agreement with its investment adviser to provide a $0.47 per share pre-closing cash payment to shareholders, contingent upon its merger with Portman Ridge Finance Corporation.
Better than expected
Portman Ridge Finance Corporation announced a corporate rebranding to BCP Investment Corporation, a transition to monthly base distributions starting in 2026, and an intent by the company and its affiliates to acquire up to 20% of common shares if the stock trades below 80% of NAV, following its merger with Logan Ridge Finance Corporation.
Proxy Statements (Def-14A)
Logan Ridge Finance Corporation's annual meeting will be held on June 25, 2024, with stockholders voting on the election of two directors and the ratification of Deloitte & Touche LLP as the independent registered public accounting firm.
Logan Ridge Finance Corporation will hold its 2024 Annual Meeting of Stockholders virtually on June 25, 2024, to elect two directors and ratify the selection of Deloitte & Touche LLP as the independent registered public accounting firm.
Schedule 13G - Passive Investments
SCHEDULE 13G/A: Bulldog Investors and Principals Disclose Significant Passive Stakes in Logan Ridge Finance Corp.
Bulldog Investors, LLP, along with its principals Phillip Goldstein and Andrew Dakos, have filed an amended Schedule 13G disclosing beneficial ownership exceeding 5% in Logan Ridge Finance Corp.'s common stock, held for passive investment purposes.