Welcome to our dedicated page for Logan Ridge Finance Corporation news (Ticker: LRFC), a resource for investors and traders seeking the latest updates and insights on Logan Ridge Finance Corporation stock.
Logan Ridge Finance Corporation (LRFC) is an externally managed, non-diversified closed-end investment company. The company aims to generate both current income and capital appreciation through its strategic investments in debt and equity.
Logan Ridge Finance Corp offers customized financing solutions to business owners, management teams, and financial sponsors. These solutions cater to various purposes such as change of ownership transactions, recapitalizations, strategic acquisitions, business expansion, and other growth initiatives.
Recently, Logan Ridge has been engaged in several key activities:
- Third Quarter 2023 Highlights: The company reported selected financial information, focusing on investment income and the fair value of its investments.
- Upcoming Calls: Logan Ridge has scheduled multiple investor calls to discuss its financial performance and outlook, including sessions on November 9, 2023, March 14, 2024, March 28, 2024, and May 9, 2024. These calls are conducted by The Equity Group Inc.
- Preliminary Financial Information for 2023: The company shared unaudited and preliminary financial data, reflecting its commitment to transparency and investor communication.
For additional details or inquiries, Logan Ridge Finance Corporation can be contacted at their New York office, located at 650 Madison Avenue, 23rd Floor. Key contacts include Chief Financial Officers Jason Roos and Brandon Satoren, as well as representatives from The Equity Group Inc.
On May 10, 2022, Logan Ridge Finance Corporation (LRFC) announced a significant refinancing of its capital structure, marking a key strategic move for the company. The company increased its senior secured credit facility with KeyBank from $25 million to $75 million, with an additional borrowing capacity of $125 million. This refinancing reduces LRFC's cost of debt from approximately 7.0% to 5.2%. Furthermore, the company plans to utilize the proceeds to pay off $52.1 million in convertible notes and $22.8 million in notes maturing soon, ensuring sufficient liquidity.
Logan Ridge Finance Corporation (LRFC) will release its financial results for Q1 2022 on May 12, 2022, after market close. A conference call is scheduled for May 13, 2022, at 9:00 a.m. ET to discuss these results. Investors can access the call by dialing (844) 616-4517 and using conference ID 3899999. A replay will be available until May 20, 2022. LRFC operates as a publicly traded investment company, focusing on first lien loans and equity securities for lower middle market companies.
Logan Ridge Finance Corporation (LRFC) reported financial results for Q4 and FY 2021, showing significant de-leveraging and portfolio improvements. Debt-to-equity ratio improved from 1.98x to 1.17x. Total investment income for Q4 was $3.4 million, unchanged from the previous quarter, while annual income decreased by 36.6% to $14.8 million. Operating expenses fell to $20.3 million. The company exited $99.5 million of legacy portfolio investments. Net realized losses for the year totaled $8.0 million. Logan Ridge aims to strengthen its portfolio and generate higher investment returns in 2022.
Logan Ridge Finance Corporation (LRFC) will announce its financial results for the fourth quarter and fiscal year ended December 31, 2021, on March 14, 2022, after market close. The company will host a conference call on March 16, 2022, at 9:00 a.m. Eastern Time to discuss these results. Investors can access the call by dialing (844) 616-4517, using conference ID 5439717. A replay will be available from March 16 to March 23. More details can be found on the company's website.
Logan Ridge Finance Corporation (LRFC) released its financial results for Q3 2021, highlighting a total investment income of $3.4 million, down from $5.0 million in Q2 2021. The company achieved net realized gains of $7.4 million, translating to $2.74 per share. It reported a decrease in debt-to-equity from 1.3x to 1.1x quarter-over-quarter. An investment grade credit rating of 'BBB-' was assigned by Egan-Jones Rating Company. Subsequent to the quarter, LRFC issued $50 million in 5.25% Senior Unsecured Notes due 2026 and plans to redeem $50 million of 6.0% fixed-rate notes by December 6, 2021.
Logan Ridge Finance Corporation (Nasdaq: LRFC) is set to release its third quarter financial results for the period ending September 30, 2021, on November 10, 2021, after market close. A conference call will follow on November 11, 2021, at 9:00 a.m. Eastern Time to discuss the results. Investors can access the call via phone at (844) 616-4517 or through a live webcast on the company’s website. The Company, regulated as a business development company, primarily invests in first lien loans and equity securities of lower middle market companies.
Logan Ridge Finance Corporation (Nasdaq: LRFC) announced a credit rating of BBB- from Egan-Jones Rating Company and priced a $50 million private placement of 5.25% senior unsecured notes due 2026. The offering is set to close on October 29, 2021, with net proceeds expected to be around $48.8 million. These funds will be used to repay certain debts, including 2022 Notes. The interest will be payable semiannually, and the company aims to reduce its cost of debt to benefit shareholders.
Logan Ridge Finance Corporation (LRFC) reported its Q2 2021 financial results, showing a net asset value per share of $41.96, down from $44.74 in Q1 2021. The company repaid $71 million of SBA-guaranteed debentures and transitioned to a new investment adviser, Mount Logan Management, on July 1, 2021. Total investment income increased slightly to $5 million, while total expenses decreased to $5 million. Net realized gains were $6.1 million, with a significant shift from losses in Q1. However, net change in unrealized depreciation was $13.7 million, indicating ongoing valuation challenges.
Logan Ridge Finance Corporation (NASDAQ: LRFC) is set to release its financial results for the second quarter ended June 30, 2021, on August 16, 2021, before market open. A conference call to discuss these results will take place at 11:00 a.m. ET the same day. Investors can access the call via phone or through a live audio webcast on the Company’s website. Logan Ridge primarily invests in first lien loans and equity securities of lower middle market companies.
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