Logan Ridge Finance Corporation Announces Second Quarter 2024 Financial Results
Logan Ridge Finance (LRFC) announced its Q2 2024 financial results, reporting total investment income of $5.4 million and net investment income of $0.28 per share. The company's net asset value decreased to $33.13 per share as of June 30, 2024. LRFC made $1.5 million in investments and had $5.6 million in repayments and sales, resulting in net repayments of $4.1 million. The Board approved a Q3 distribution of $0.33 per share. The investment portfolio consisted of 61 companies with a fair value of $195.6 million. The debt investment portfolio represented 80% of the total portfolio with a weighted average yield of 11.4%. LRFC maintained a strong financial position and sees attractive opportunities for capital deployment in the second half of 2024.
Logan Ridge Finance (LRFC) ha annunciato i risultati finanziari del secondo trimestre 2024, riportando un reddito totale da investimenti di 5,4 milioni di dollari e un reddito netto da investimenti di 0,28 dollari per azione. Il valore netto degli attivi è sceso a 33,13 dollari per azione al 30 giugno 2024. LRFC ha effettuato investimenti per 1,5 milioni di dollari e ha registrato 5,6 milioni di dollari in rimborsi e vendite, con rimborsi netti pari a 4,1 milioni di dollari. Il Consiglio ha approvato una distribuzione per il terzo trimestre di 0,33 dollari per azione. Il portafoglio investimenti era composto da 61 aziende con un valore equo di 195,6 milioni di dollari. Il portafoglio di debito rappresentava l'80% del portafoglio totale con un rendimento medio ponderato dell'11,4%. LRFC ha mantenuto una posizione finanziaria solida e vede opportunità attraenti per l'impiego di capitali nella seconda metà del 2024.
Logan Ridge Finance (LRFC) anunció sus resultados financieros del segundo trimestre de 2024, reportando un ingreso total por inversiones de 5,4 millones de dólares y un ingreso neto por inversiones de 0,28 dólares por acción. El valor neto de los activos disminuyó a 33,13 dólares por acción al 30 de junio de 2024. LRFC realizó inversiones por 1,5 millones de dólares y tuvo 5,6 millones de dólares en reembolsos y ventas, resultando en reembolsos netos de 4,1 millones de dólares. La Junta aprobó una distribución para el tercer trimestre de 0,33 dólares por acción. La cartera de inversiones estaba compuesta por 61 empresas con un valor razonable de 195,6 millones de dólares. El portafolio de inversiones en deuda representó el 80% del portafolio total con un rendimiento promedio ponderado del 11,4%. LRFC mantuvo una posición financiera sólida y ve oportunidades atractivas para la implementación de capital en la segunda mitad de 2024.
로건 리지 파이낸스(Logan Ridge Finance, LRFC)는 2024년 2분기 재무 결과를 발표하며 총 투자 수익 540만 달러와 주당 0.28달러의 순 투자 수익을 보고했습니다. 회사의 순 자산 가치는 2024년 6월 30일 기준으로 주당 33.13달러로 감소했습니다. LRFC는 150만 달러의 투자를 했으며 560만 달러의 상환 및 매각이 이루어져, 순 상환 금액이 410만 달러에 달했습니다. 이사회는 3분기 주당 0.33달러의 배당금을 승인했습니다. 투자 포트폴리오는 공정 가치가 1억 9,560만 달러인 61개의 기업으로 구성되었습니다. 부채 투자 포트폴리오는 총 포트폴리오의 80%를 차지하며, 가중 평균 수익률은 11.4%입니다. LRFC는 지속적으로 강력한 재무 상태를 유지하고 있으며 2024년 하반기에 자본 배치에 대한 매력적인 기회가 있다고 보고 있습니다.
Logan Ridge Finance (LRFC) a annoncé ses résultats financiers du deuxième trimestre 2024, rapportant un revenu total d'investissement de 5,4 millions de dollars et un revenu net d'investissement de 0,28 dollar par action. La valeur nette des actifs a diminué à 33,13 dollars par action au 30 juin 2024. LRFC a réalisé 1,5 million de dollars d'investissements et a eu 5,6 millions de dollars de remboursements et de ventes, ce qui a conduit à des remboursements nets de 4,1 millions de dollars. Le conseil d'administration a approuvé une distribution pour le troisième trimestre de 0,33 dollar par action. Le portefeuille d'investissement était composé de 61 entreprises, avec une valeur juste de 195,6 millions de dollars. Le portefeuille d'investissement de la dette représentait 80 % du portefeuille total avec un rendement moyen pondéré de 11,4 %. LRFC a maintenu une position financière solide et voit des opportunités attrayantes pour le déploiement de capitaux dans la seconde moitié de 2024.
Logan Ridge Finance (LRFC) kündigte seine Finanz Ergebnisse für das 2. Quartal 2024 an und berichtete von Gesamtinvestitionserträgen von 5,4 Millionen Dollar und Nettoinvestitionserträgen von 0,28 Dollar pro Aktie. Der netto Vermögenswert pro Aktie fiel auf 33,13 Dollar zum 30. Juni 2024. LRFC tätigte Investitionen in Höhe von 1,5 Millionen Dollar und hatte 5,6 Millionen Dollar an Rückzahlungen und Verkäufen, was zu netto Rückzahlungen von 4,1 Millionen Dollar führte. Der Vorstand genehmigte eine Q3-Ausschüttung von 0,33 Dollar pro Aktie. Das Investitionsportfolio bestand aus 61 Unternehmen mit einem Fair Value von 195,6 Millionen Dollar. Das Schuldinvestitionsportfolio machte 80 % des Gesamtportfolios aus und wies eine gewichtete durchschnittliche Rendite von 11,4 % auf. LRFC behielt eine starke Finanzlage bei und sieht im zweiten Halbjahr 2024 attraktive Möglichkeiten zur Kapitalverwendung.
- Total investment income increased to $5.4 million in Q2 2024 from $5.0 million in Q1 2024
- Board approved a Q3 2024 distribution of $0.33 per share
- Debt investment portfolio yield remained stable at 11.4%
- No new investments placed on non-accrual status during the quarter
- Asset coverage ratio of 176% as of June 30, 2024
- Net Investment Income decreased to $0.28 per share in Q2 2024 from $0.35 per share in Q1 2024
- Net asset value decreased to $33.13 per share from $33.71 per share in the previous quarter
- Net repayments and sales of $4.1 million during Q2 2024
- Three portfolio companies on non-accrual status, representing 5.2% of the investment portfolio's fair value
Insights
Logan Ridge Finance 's Q2 2024 results show a mixed performance. While total investment income increased to
The company's net asset value (NAV) per share declined from
The investment portfolio's weighted average yield remains stable at
Logan Ridge's Q2 results reflect the challenging market conditions in the BDC sector. The company's net repayments of
The increase in fixed-rate debt investments from
Investors should note the sensitivity to interest rate changes, as highlighted in the risk analysis. A 100 basis point increase in rates could boost net income by
Reports Solid Results with Total Investment Income of
Net Asset Value of
Declared a Distribution of
NEW YORK, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Logan Ridge Finance Corporation (“Logan Ridge”, “Logan”, “LRFC”, “Company”, “we”, “us” or “our”) (Nasdaq: LRFC) announced today its financial results for the second quarter ended June 30, 2024.
Second Quarter 2024 Highlights
- Total Investment Income increased to
$5.4 million for the quarter ended June 30, 2024, from$5.0 million reported for the quarter ended March 31, 2024. - Net Investment Income (“NII”) decreased to
$0.8 million , or$0.28 per share, for the quarter ended June 30, 2024 as compared to$0.9 million or$0.35 per share reported in the quarter ended March 31, 2024. Net investment income for the current quarter includes$0.3 million , or$0.10 per share, of certain non-recurring incremental professional fees and other expenses. - Net asset value decreased to
$33.13 per share as of June 30, 2024, from$33.71 per share as of March 31, 2024. - Made approximately
$1.5 million of investments and had approximately$5.6 million in repayments and sales of investments, resulting in net repayments and sales of approximately$4.1 million during the quarter ended June 30, 2024.
Subsequent Events
- On August 7, 2024, the Company’s Board of Directors approved a third quarter distribution of
$0.33 per share, payable on August 30, 2024 to stockholders of record as of August 22, 2024.
Management Commentary
Ted Goldthorpe, Chief Executive Officer and President of Logan Ridge, said, “I am pleased to announce another solid quarter and half year of financial performance for Logan Ridge. The first half results are highlighted by net deployment of
Further, the Company’s strong financial position and the outlook for the long-term earnings power of the portfolio has allowed the Board of Directors to approve a dividend of
Looking forward to the second half of 2024, we continue to see attractive opportunities in our pipeline to deploy our available capital. We believe we are well positioned to continue to support the growth of our existing portfolio companies and we will remain opportunistic deployers of capital in the current market environment.”
Selected Financial Information
- Total investment income for the quarter ended June 30, 2024, increased by
$0.1 million , to$5.4 million , compared to$5.3 million for the second quarter of 2023. - Total operating expenses for the quarter ended June 30, 2024, increased by
$0.3 million , to$4.6 million , compared to$4.3 million for the second quarter of 2023. Total operating expenses for the second quarter of 2024 includes$0.3 million of certain non-recurring incremental professional fees and other expenses. - Net investment income for the quarter ended June 30, 2024, was
$0.8 million , or$0.28 per share, compared to$1.0 million , or$0.38 per share, for the second quarter of 2023. Net investment income for the quarter ended June 30, 2024 includes$0.3 million , or$0.10 per share, of certain non-recurring incremental professional fees and other expenses. - Net asset value as of June 30, 2024, was
$88.7 million , or$33.13 per share, compared to$90.2 million , or$33.71 per share, as of March 31, 2024. - Cash and cash equivalents as of June 30, 2024, were
$4.3 million compared to$8.3 million as of March 31, 2024. - The investment portfolio as of June 30, 2024, consisted of investments in 61 portfolio companies with a fair value of approximately
$195.6 million . This compares to 62 portfolio companies with a fair value of approximately$200.1 million as of March 31, 2024. - Deployment was judicious and prudent during the quarter ended June 30, 2024. During the quarter, the Company made approximately
$1.5 million in investments and had$5.6 million in repayments and sales of investments, resulting in net repayments and sales of approximately$4.1 million for the quarter. - The debt investment portfolio as of June 30, 2024 represented
80.0% of the fair value of the total portfolio, with a weighted average annualized yield of approximately11.4% (excluding income from non-accruals and collateralized loan obligations), compared to a debt investment portfolio of approximately80.8% with a weighted average annualized yield of approximately11.4% (excluding income from non-accruals and collateralized loan obligations) as of March 31, 2024. As of June 30, 2024,11.9% of the fair value of the debt investment portfolio was bearing a fixed rate of interest, compared to11.5% of the fair value of the debt investment portfolio as of March 31, 2024. - Non-Accruals: As of June 30, 2024, the Company had debt investments in three portfolio companies on non-accrual status with an amortized cost and fair value of
$17.2 million and$10.1 million , respectively, representing8.5% and5.2% of the investment portfolio’s amortized cost and fair value, respectively. This compares to debt investments in the same three portfolio companies on non-accrual status with an aggregate amortized cost and fair value of$17.2 million and$10.6 million , respectively, representing8.3% and5.3% of the investment portfolio’s amortized cost and fair value, respectively, at March 31, 2024. - Asset coverage ratio as of June 30, 2024 was
176% .
Results of Operations
Our operating results for the three and six months ended June 30, 2024 and June 30, 2023 were as follows (dollars in thousands):
| For the Three Months Ended June 30, | For the Six Months Ended June 30, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Total investment income | $ | 5,370 | $ | 5,344 | $ | 10,373 | $ | 10,600 | ||||||||
| Total expenses | 4,620 | 4,305 | 8,676 | 8,488 | ||||||||||||
| Net investment income | 750 | 1,039 | 1,697 | 2,112 | ||||||||||||
| Net realized gain (loss) on investments | (200 | ) | (2,362 | ) | 87 | (3,868 | ) | |||||||||
| Net change in unrealized appreciation (depreciation) on investments | (1,092 | ) | 4,563 | (417 | ) | 4,346 | ||||||||||
| Net realized gain (loss) on extinguishment of debt | (116 | ) | — | (174 | ) | — | ||||||||||
| Net increase (decrease) in net assets resulting from operations | $ | (658 | ) | $ | 3,240 | $ | 1,193 | $ | 2,590 | |||||||
Investment income
The composition of our investment income for the three and six months ended June 30, 2024 and June 30, 2023 was as follows (dollars in thousands):
| For the Three Months Ended June 30, | For the Six Months Ended June 30, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Interest income | $ | 4,635 | $ | 4,907 | $ | 9,268 | $ | 9,675 | ||||||||
| Payment-in-kind interest | 518 | 319 | 871 | 783 | ||||||||||||
| Dividend income | 17 | 19 | 34 | 33 | ||||||||||||
| Other income | 200 | 99 | 200 | 109 | ||||||||||||
| Total investment income | $ | 5,370 | $ | 5,344 | $ | 10,373 | $ | 10,600 | ||||||||
Fair Value of Investments
The composition of our investments as of June 30, 2024 and December 31, 2023, at amortized cost and fair value of investments was as follows (dollars in thousands):
| June 30, 2024 | Investments at Amortized Cost | Amortized Cost Percentage of Total Portfolio | Investments at Fair Value | Fair Value Percentage of Total Portfolio | ||||||||||||
| First Lien Debt | $ | 133,516 | 65.8 | % | $ | 125,133 | 64.0 | % | ||||||||
| Second Lien Debt | 9,352 | 4.6 | % | 8,012 | 4.1 | % | ||||||||||
| Subordinated Debt | 26,893 | 13.3 | % | 23,218 | 11.9 | % | ||||||||||
| Collateralized Loan Obligations | 1,770 | 0.9 | % | 1,596 | 0.8 | % | ||||||||||
| Joint Venture | 393 | 0.2 | % | 407 | 0.2 | % | ||||||||||
| Equity | 30,906 | 15.2 | % | 37,187 | 19.0 | % | ||||||||||
| Total | $ | 202,830 | 100.0 | % | $ | 195,553 | 100.0 | % | ||||||||
| December 31, 2023 | Investments at Amortized Cost | Amortized Cost Percentage of Total Portfolio | Investments at Fair Value | Fair Value Percentage of Total Portfolio | ||||||||||||
| First Lien Debt | $ | 128,537 | 65.4 | % | $ | 124,007 | 65.4 | % | ||||||||
| Second Lien Debt | 8,968 | 4.6 | % | 7,918 | 4.2 | % | ||||||||||
| Subordinated Debt | 26,573 | 13.5 | % | 23,548 | 12.4 | % | ||||||||||
| Collateralized Loan Obligations | 1,600 | 0.8 | % | 1,600 | 0.8 | % | ||||||||||
| Joint Venture | 440 | 0.2 | % | 450 | 0.2 | % | ||||||||||
| Equity | 30,400 | 15.5 | % | 32,135 | 17.0 | % | ||||||||||
| Total | $ | 196,518 | 100.0 | % | $ | 189,658 | 100.0 | % | ||||||||
Interest Rate Risk
Based on our consolidated statements of assets and liabilities as of June 30, 2024, the following table shows the annual impact on net income (excluding the potential related incentive fee impact) of base rate changes in interest rates (considering interest rate floors for variable rate securities), assuming no changes in our investment and borrowing structure (dollars in thousands):
| Basis Point Change | Increase (decrease) in interest income | (Increase) decrease in interest expense | Increase (decrease) in net income | ||||||||
| Up 300 basis points | $ | 4,392 | $ | (1,620 | ) | $ | 2,772 | ||||
| Up 200 basis points | 2,928 | (1,080 | ) | 1,848 | |||||||
| Up 100 basis points | 1,464 | (540 | ) | 924 | |||||||
| Down 100 basis points | (1,464 | ) | 540 | (924 | ) | ||||||
| Down 200 basis points | (2,928 | ) | 1,080 | (1,848 | ) | ||||||
| Down 300 basis points | (4,307 | ) | 1,620 | (2,687 | ) | ||||||
Conference Call and Webcast
We will hold a conference call on Friday, August 9, 2024, at 11:00 a.m. Eastern Time to discuss the second quarter 2024 financial results. Stockholders, prospective stockholders, and analysts are welcome to listen to the call or attend the webcast.
To access the conference call, please dial (646) 307-1963 approximately 10 minutes prior to the start of the call and use the conference ID 4533143.
A replay of this conference call will be available shortly after the live call through August 16, 2024.
A live audio webcast of the conference call can be accessed via the Internet, on a listen-only basis on the Company’s website www.loganridgefinance.com in the Investor Resources section under Events and Presentations. The webcast can also be accessed by clicking the following link: https://edge.media-server.com/mmc/p/wk9wbtnf. The online archive of the webcast will be available on the Company’s website shortly after the call.
About Logan Ridge Finance Corporation
Logan Ridge Finance Corporation (Nasdaq: LRFC) is a business development company that invests primarily in first lien loans and, to a lesser extent, second lien loans and equity securities issued by lower middle-market companies. The Company invests in performing, well-established middle-market businesses that operate across a wide range of industries. It employs fundamental credit analysis, targeting investments in businesses with relatively low levels of cyclicality and operating risk. For more information, visit www.loganridgefinance.com.
About Mount Logan Capital Inc.
Mount Logan Capital Inc. (“MLC”) is an alternative asset management company that is focused on public and private debt securities in the North American market. MLC seeks to source and actively manage loans and other debt-like securities with credit-oriented characteristics. MLC actively sources, evaluates, underwrites, manages, monitors, and primarily invests in loans, debt securities, and other credit-oriented instruments that present attractive risk-adjusted returns and present low risk of principal impairment through the credit cycle.
About BC Partners Advisors L.P. and BC Partners Credit
BC Partners is a leading international investment firm in private equity, private credit and real estate strategies. Established in 1986, BC Partners has played an active role in developing the European buyout market for three decades. Today, BC Partners executives operate across markets as an integrated team through the firm's offices in North America and Europe. For more information, please visit www.bcpartners.com.
BC Partners Credit was launched in February 2017 and has pursued a strategy focused on identifying attractive credit opportunities in any market environment and across sectors, leveraging the deal sourcing and infrastructure made available from BC Partners.
Cautionary Statement Regarding Forward-Looking Statements
This communication contains “forward-looking” statements. Forward-looking statements concern future circumstances and results and other statements that are not historical facts and are sometimes identified by the words “may,” “will,” “should,” “potential,” “intend,” “expect,” “endeavor,” “seek,” “anticipate,” “estimate,” “overestimate,” “underestimate,” “believe,” “could,” “project,” “predict,” “continue,” “target” or other similar words or expressions. Forward-looking statements are based upon current plans, estimates and expectations that are subject to risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include those risk factors detailed in the Company’s reports filed with the Securities and Exchange Commission (“SEC”), including the Company’s annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and other documents filed with the SEC.
Any forward-looking statements speak only as of the date of this communication. The Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information or developments, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements.
For additional information, contact:
Logan Ridge Finance Corporation
650 Madison Avenue, 3rd Floor
New York, NY 10022
Brandon Satoren
Chief Financial Officer
Brandon.Satoren@bcpartners.com
(212) 891-2880
Lena Cati
The Equity Group Inc.
lcati@equityny.com
(212) 836-9611
Val Ferraro
The Equity Group Inc.
vferraro@equityny.com
(212) 836-9633
| Logan Ridge Finance Corporation Consolidated Statements of Assets and Liabilities (in thousands, except share and per share data) | ||||||||
| As of June 30, 2024 | As of December 31, 2023 | |||||||
| (unaudited) | ||||||||
| ASSETS | ||||||||
| Investments at fair value: | ||||||||
| Non-control/non-affiliate investments (amortized cost of | $ | 157,181 | $ | 161,880 | ||||
| Affiliate investments (amortized cost of | 38,372 | 27,778 | ||||||
| Total investments at fair value (amortized cost of | 195,553 | 189,658 | ||||||
| Cash and cash equivalents | 4,284 | 3,893 | ||||||
| Interest and dividend receivable | 2,017 | 1,374 | ||||||
| Prepaid expenses | 1,783 | 2,163 | ||||||
| Other assets | 687 | — | ||||||
| Total assets | $ | 204,324 | $ | 197,088 | ||||
| LIABILITIES | ||||||||
| 2026 Notes (net of deferred financing costs and original issue discount of | $ | 49,124 | $ | 48,943 | ||||
| 2032 Convertible Notes (net of deferred financing costs and original issue discount of | 11,249 | 14,001 | ||||||
| KeyBank Credit Facility (net of deferred financing costs of | 52,293 | 38,571 | ||||||
| Management and incentive fees payable | 909 | 869 | ||||||
| Interest and financing fees payable | 1,092 | 949 | ||||||
| Accounts payable and accrued expenses | 996 | 833 | ||||||
| Payable for unsettled trades | — | 3,747 | ||||||
| Total liabilities | $ | 115,663 | $ | 107,913 | ||||
| Commitments and contingencies | ||||||||
| NET ASSETS | ||||||||
| Common stock, par value | $ | 27 | $ | 27 | ||||
| Capital in excess of par value | 188,437 | 188,405 | ||||||
| Total distributable loss | (99,803 | ) | (99,257 | ) | ||||
| Total net assets | $ | 88,661 | $ | 89,175 | ||||
| Total liabilities and net assets | $ | 204,324 | $ | 197,088 | ||||
| Net asset value per share | $ | 33.13 | $ | 33.34 | ||||
Logan Ridge Finance Corporation
Consolidated Statements of Operations
(in thousands, except share and per share data)
| For the Three Months Ended June 30, | For the Six Months Ended June 30, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| INVESTMENT INCOME | ||||||||||||||||
| Interest income: | ||||||||||||||||
| Non-control/non-affiliate investments | $ | 4,526 | $ | 4,773 | $ | 9,159 | $ | 9,377 | ||||||||
| Affiliate investments | 109 | 134 | 109 | 298 | ||||||||||||
| Total interest income | 4,635 | 4,907 | 9,268 | 9,675 | ||||||||||||
| Payment-in-kind interest and dividend income: | ||||||||||||||||
| Non-control/non-affiliate investments | 476 | 271 | 812 | 687 | (1) | |||||||||||
| Affiliate investments | 42 | 48 | 59 | 96 | ||||||||||||
| Total payment-in-kind interest and dividend income | 518 | 319 | 871 | 783 | ||||||||||||
| Dividend income: | ||||||||||||||||
| Affiliate investments | 17 | 19 | 34 | 33 | ||||||||||||
| Total dividend income | 17 | 19 | 34 | 33 | ||||||||||||
| Other income: | ||||||||||||||||
| Non-control/non-affiliate investments | 46 | 99 | 46 | 109 | ||||||||||||
| Affiliate investments | 154 | — | 154 | — | ||||||||||||
| Total other income | 200 | 99 | 200 | 109 | ||||||||||||
| Total investment income | 5,370 | 5,344 | 10,373 | 10,600 | ||||||||||||
| EXPENSES | ||||||||||||||||
| Interest and financing expenses | 2,303 | 2,236 | 4,310 | 4,305 | ||||||||||||
| Base management fee | 909 | 946 | 1,802 | 1,876 | ||||||||||||
| Directors' expense | 175 | 135 | 325 | 270 | ||||||||||||
| Administrative service fees | 255 | 224 | 456 | 481 | ||||||||||||
| General and administrative expenses | 978 | 764 | 1,783 | 1,556 | ||||||||||||
| Total expenses | 4,620 | 4,305 | 8,676 | 8,488 | ||||||||||||
| NET INVESTMENT INCOME | 750 | 1,039 | 1,697 | 2,112 | ||||||||||||
| REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS | ||||||||||||||||
| Net realized gain (loss) on investments: | ||||||||||||||||
| Non-control/non-affiliate investments | (200 | ) | (2,362 | ) | 87 | (3,868 | ) | |||||||||
| Net realized gain (loss) on investments | (200 | ) | (2,362 | ) | 87 | (3,868 | ) | |||||||||
| Net change in unrealized appreciation (depreciation) on investments: | ||||||||||||||||
| Non-control/non-affiliate investments | (2,556 | ) | 510 | (6,460 | ) | (740 | ) | |||||||||
| Affiliate investments | 1,464 | 4,053 | 6,043 | 5,086 | ||||||||||||
| Net change in unrealized appreciation (depreciation) on investments | (1,092 | ) | 4,563 | (417 | ) | 4,346 | ||||||||||
| Total net realized and change in unrealized gain (loss) on investments | (1,292 | ) | 2,201 | (330 | ) | 478 | ||||||||||
| Net realized loss on extinguishment of debt | (116 | ) | — | (174 | ) | — | ||||||||||
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | (658 | ) | $ | 3,240 | $ | 1,193 | $ | 2,590 | |||||||
| NET INCREASE (DECREASE) IN NET ASSETS PER SHARE RESULTING FROM OPERATIONS – BASIC | $ | (0.25 | ) | $ | 1.20 | $ | 0.45 | $ | 0.96 | |||||||
| WEIGHTED AVERAGE COMMON STOCK OUTSTANDING – BASIC | 2,676,018 | 2,703,871 | 2,677,187 | 2,707,399 | ||||||||||||
| NET INCREASE (DECREASE) IN NET ASSETS PER SHARE RESULTING FROM OPERATIONS – DILUTED | $ | (0.25 | ) | $ | 1.07 | $ | 0.45 | $ | 0.94 | |||||||
| WEIGHTED AVERAGE COMMON STOCK OUTSTANDING – DILUTED | 2,676,018 | 3,243,374 | 2,677,187 | 3,246,902 | ||||||||||||
| DISTRIBUTIONS PAID PER SHARE | $ | 0.33 | $ | 0.22 | $ | 0.65 | $ | 0.40 | ||||||||
(1) During the six months ended June 30, 2023, the Company received
FAQ
What was Logan Ridge Finance 's (LRFC) total investment income for Q2 2024?
How much did LRFC's net asset value (NAV) per share change in Q2 2024?
What dividend did Logan Ridge Finance (LRFC) declare for Q3 2024?
How many portfolio companies did LRFC have as of June 30, 2024?
