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Portman Ridge Finance Corporation (PTMN) and Garrison Capital Inc. (GARS) have received stockholder approval for their proposed merger, with over 95% of PTMN and nearly 99% of GARS shareholders voting in favor. The merger is set to close around October 28, 2020, pending customary conditions. CEO Ted Goldthorpe expressed gratitude for the stockholders' support, highlighting that the merger's size and resources are expected to benefit all stakeholders significantly.
Garrison Capital Inc. (GARS) reported a net investment income of $1.8 million, or $0.11 per share, for Q2 2020. However, the company experienced a net decrease in net assets of $2.7 million, equivalent to $0.17 per share. The Board declared a third-quarter distribution of $0.05 per share, payable on September 25, 2020, with a record date of September 11, 2020. No earnings conference call will be held to discuss these results. Detailed information is available on the company’s website.
Garrison Capital Inc. (Nasdaq: GARS) plans to report its Q2 2020 financial results on August 10, 2020, after market close. An earnings presentation will be available on the company’s website. Garrison Capital focuses on investments in loans to U.S. middle-market companies, managed by Garrison Capital Advisers LLC. The firm is known for opportunistic investments in corporate finance, real estate finance, and structured finance.
Forward-looking statements are included, cautioning that actual results may differ due to various risks.
Garrison Capital (GARS) reported a net investment income of $2.4 million for Q1 2020, equating to $0.15 per share. However, there was a significant net decrease in net assets of $28.4 million, or $1.77 per share. The Board declared a second quarter dividend of $0.15 per share, payable on June 26, 2020, to shareholders of record as of June 5, 2020. An earnings conference call is scheduled for May 13, 2020, at 10:00 a.m. ET for further discussion of these results.
