Form 4: Logan Ridge Finance Officer Disposes of Shares Following Merger Completion

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.

Summary

• Patrick Schafer, a Director and Chief Investment Officer of Logan Ridge Finance Corp. (LRFC), reported the disposition of 1,435.4 shares of LRFC common stock.
• The transaction occurred on July 15, 2025, and resulted in Schafer holding 0 shares of LRFC common stock.
• This disposition was a direct consequence of the Agreement and Plan of Merger, dated January 29, 2025, between Logan Ridge Finance Corporation and Portman Ridge Finance Corporation (PTMN).
• 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.

Sentiment

Score: 5

Explanation: Neutral. This Form 4 reports a factual transaction (share disposition due to a merger) and does not inherently convey positive or negative sentiment about the company's performance or future prospects. The merger itself would have its own sentiment, but this filing is merely a consequence.

Future Outlook

NA

Industry Context

This transaction reflects the finalization of a merger within the financial services sector, specifically involving business development companies (BDCs). Such consolidations are common strategies for companies to achieve greater scale, operational efficiencies, and potentially broader market reach.

Stakeholder Impact

• Shareholders of Logan Ridge Finance Corp. (LRFC) are directly impacted as their shares were converted into shares of Portman Ridge Finance Corporation (PTMN) at a ratio of 1.5 PTMN shares for each LRFC share.

Key Dates

Keywords

Logan Ridge Finance Corp., LRFC, Portman Ridge Finance Corporation, PTMN, Merger, Acquisition, SEC Form 4, Insider Transaction, Stock Disposition, Patrick Schafer