Form 4: Logan Ridge Finance CFO's Shares Converted in Portman Ridge Merger Completion

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.

Summary

• Brandon Satoren, who serves as Chief Financial Officer, Treasurer, and Secretary of Logan Ridge Finance Corp. (LRFC), reported the disposition of 35 shares of LRFC common stock.
• The transaction occurred on July 15, 2025.
• The disposition was a direct consequence of the completion of the merger between Logan Ridge Finance Corporation and Portman Ridge Finance Corporation (PTMN), as outlined in the Agreement and Plan of Merger dated January 29, 2025.
• Under the terms of the Merger Agreement, each share of LRFC common stock was converted into the right to receive 1.5 shares of PTMN common stock.
• Following this transaction, Brandon Satoren's beneficial ownership of LRFC common stock is 0 shares.

Sentiment

Score: 7

Explanation: The Form 4 reports a routine insider transaction (disposition of shares) resulting from the completion of a previously announced merger. This indicates the successful execution of a strategic corporate action, which is generally a positive development.

Positives

• The completion of the merger between Logan Ridge Finance Corporation and Portman Ridge Finance Corporation signifies the successful execution of a strategic corporate action.

Future Outlook

NA

Management Comments

• The disposition of shares was completed pursuant to the transactions contemplated by the Agreement and Plan of Merger, dated as of January 29, 2025, by and among Portman Ridge Finance Corporation, Logan Ridge Finance Corporation, and other related entities.

Industry Context

This filing indicates a consolidation event within the finance sector, specifically involving business development companies (BDCs), as Logan Ridge Finance Corporation merged with Portman Ridge Finance Corporation. Such mergers are common strategic moves for growth and efficiency in the financial services industry.

Stakeholder Impact

• Shareholders of Logan Ridge Finance Corporation (LRFC) are directly impacted as their shares were converted into shares of Portman Ridge Finance Corporation (PTMN) at a 1.5:1 ratio.
• The Chief Financial Officer, Brandon Satoren, no longer holds direct beneficial ownership in LRFC common stock following the merger.

Next Steps

• Shareholders of Logan Ridge Finance Corporation common stock will receive 1.5 shares of Portman Ridge Finance Corporation common stock for each LRFC share held, as per the merger terms.

Key Dates

Keywords

Logan Ridge Finance Corp, LRFC, Portman Ridge Finance Corporation, PTMN, Merger, Acquisition, SEC Form 4, Insider Transaction, Beneficial Ownership, Common Stock, Brandon Satoren