Logan Ridge Finance Corporation - LRFC STOCK NEWS

Logan Ridge Finance Corporation (LRFC) reported a strong fourth quarter with net investment income (NII) of $0.23 per share, marking its second consecutive quarter of positive NII and more than tripling the figure from the prior quarter. The net asset value decreased to $35.04 per share as of December 31, 2022, from $36.21. The Company made $23.9 million in investments during the quarter, achieving a net deployment of $13.7 million. LRFC's Board approved a quarterly distribution of $0.18 per share for Q1 2023 and authorized a $5 million share repurchase program. Total investment income for 2022 was $14.9 million, a decline of $1.8 million year-over-year.

Logan Ridge Finance Corporation (LRFC) will announce its financial results for the fourth quarter and fiscal year ending December 31, 2022, on March 9, 2023, after market close. A conference call is scheduled for March 10, 2023, at 10:00 a.m. ET to discuss these results. Investors can join the call by dialing (800) 715-9871 and using conference ID 8500679, or by accessing a live audio webcast on the company’s website. A replay of the call will be available from March 10 to March 23, 2023. Logan Ridge is regulated as a business development company, primarily investing in loans and equity securities of lower middle market companies.

Logan Ridge Finance Corporation (LRFC) reported a Net Investment Income (NII) of $0.2 million or $0.07 per share for Q3 2022, a significant improvement from a loss of $1.5 million in Q3 2021. Total investment income rose to $3.8 million, while total operating expenses decreased to $3.6 million. The company successfully exited its investment in Burke America Parts Group for $2.7 million and plans further commitments to its Great Lakes Joint Venture. As of September 30, 2022, net asset value was $98.2 million, down from $107.1 million at year-end 2021.

Logan Ridge Finance Corporation (Nasdaq: LRFC) is set to announce its third quarter financial results for the period ended September 30, 2022, on November 8, 2022, after market close. A conference call will take place on November 9, 2022, at 10:00 am ET, to discuss these results. Investors can join the call by phone or via a webcast. Logan Ridge primarily invests in first lien loans, with additional investments in second lien loans and equity securities.

Logan Ridge Finance Corporation (LRFC) announced its second-quarter financial results for 2022, marking a transformative period under new management. As of June 30, 2022, LRFC reported a net asset value of $101.1 million, equating to $37.31 per share. The company successfully reduced its cost of capital by refinancing legacy debt, which resulted in a significant decrease in non-interest earning equity exposure. However, net investment loss was $0.9 million, showing improved performance compared to Q1 losses. LRFC anticipates benefiting from strategic initiatives in the latter half of 2022.

Logan Ridge Finance Corporation (LRFC) will announce its Q2 financial results on August 9, 2022, after market close. A conference call is scheduled for August 10, 2022, at 10:00 a.m. ET to discuss these results. The company, classified as a business development company, primarily invests in first lien loans, with some investment in second lien loans and equity securities from lower middle market firms. More information on their operations and financials can be found on their official website.

Logan Ridge Finance Corporation (Nasdaq: LRFC) announced a significant recapitalization on June 29, 2022, involving Eastport Holdings, LLC. This transaction allowed LRFC to receive $16.5 million in cash and $19.25 million in a new debt security, replacing all previous debts and equities. The new security will mature on September 29, 2027 and offers an interest rate of 3-month SOFR + 850. CEO Ted Goldthorpe highlighted that this move reduces non-interest earning equity exposure and enhances the company's financial positioning.

Logan Ridge Finance Corporation (LRFC) announced the full repayment of its 5.75% Convertible Notes and 6.00% Notes, totaling $74.9 million, significantly reducing its cost of debt. This milestone was achieved using cash reserves and proceeds from refinancing its capital structure. Key developments include an increased credit facility with KeyBank, now at $75 million, and new issuances of convertible notes and notes due in 2026 and 2032, both with lower interest rates. These actions aim to strengthen the company's financial position.

Logan Ridge Finance Corporation (LRFC) reported first-quarter 2022 results, showing a slight decline in net asset value to $106.2 million ($39.16 per share) compared to $107.1 million ($39.48 per share) at year-end 2021. The investment portfolio's fair value increased by $8.7 million to $206.9 million, aided by net unrealized appreciation. Cash reserves fell by $23.2 million to $15.8 million. Debt investments constituted 68.1% of the total portfolio with an average yield of 8.3%. The company refinanced its legacy capital structure, significantly lowering its cost of capital.