Portman Ridge Finance Corporation - PTMN STOCK NEWS

Portman Ridge Finance Corporation (Nasdaq: PTMN) will participate in the Sidoti Virtual Small Cap Conference on January 19-20, 2022. CEO Ted Goldthorpe and CIO Patrick Schafer will present and host one-on-one investor meetings. The presentation starts at 1:45 PM ET on January 19, 2022, accessible live via a provided link. The company's investor relations section on their website will also host a webcast. Portman Ridge focuses on middle market investments, managing a portfolio of loans and equities, and is regulated as a business development company.

Portman Ridge Finance Corporation (PTMN) reported third quarter 2021 financial results, including a net investment income of $1.50 per share, totaling $13.7 million. The net asset value (NAV) per share rose to $29.71, up from $29.28 last quarter. The company announced a quarterly distribution of $0.62 per share for Q4 2021, reflecting a $0.02 increase. Total investments valued $562 million excluded derivatives, with $455 million in debt securities. In Q3, the company redeemed $28.75 million of HCAP Notes and repurchased $1.4 million of its shares.

Portman Ridge Finance Corporation (Nasdaq: PTMN) will announce its third-quarter financial results on November 4, 2021, after market close. A conference call to discuss these results is scheduled for November 5, 2021, at 11:00 a.m. ET. Interested participants can join by phone or via a live audio webcast on the company’s website. Portman Ridge, an externally managed investment company, focuses on middle market investments, including term loans and mezzanine investments.

Portman Ridge Finance Corporation (Nasdaq: PTMN) announced that its 1-for-10 reverse stock split became effective on August 26, 2021. This split reduces the number of issued shares, with shareholders receiving one share for every ten they own. The split was approved during the annual stockholders’ meeting on June 7, 2021. The authorized shares were also reduced from 100 million to 20 million. No fractional shares will be issued; instead, cash payments will substitute any fractional ownership.

Portman Ridge Finance Corporation (Nasdaq: PTMN) announced a 1-for-10 reverse stock split effective August 26, 2021. This decision, approved by shareholders on June 7, 2021, aims to consolidate ten shares of common stock into one. The company's authorized share count will decrease from 100 million to 20 million. The reverse stock split does not affect shareholders' percentage interest, aside from adjustments for fractional shares, which will be compensated in cash. The company operates as a business development company, focusing on middle market investments.

Portman Ridge Finance Corporation (NASDAQ: PTMN) reported its Q2 2021 financial results, announcing a quarterly distribution of $0.06 per share, payable on August 31, 2021. The company’s net investment income rose to $11.7 million, translating to $0.15 per share, boosted by higher debt securities due to the successful HCAP merger. The net asset value per share slightly increased to $2.93. A 1-for-10 reverse stock split was approved to enhance stock liquidity, expected to complete in Q3 2021.

Portman Ridge Finance Corporation (NASDAQ: PTMN) has resumed its share buyback program, purchasing approximately $1.1 million of its shares since the merger with Harvest Capital Credit Corporation on June 9, 2021. The buyback program allows for up to $10 million in total share repurchases until March 31, 2022. CEO Ted Goldthorpe stated that the buyback is in the best interests of stockholders and will continue throughout the year based on market conditions. The company has also initiated a Rule 10b5-1 stock trading plan for repurchases totaling up to $2.5 million.

Portman Ridge Finance Corporation (Nasdaq: PTMN) will release its Q2 2021 financial results on August 5, 2021, after market close. A conference call is scheduled for August 6, 2021, at 11:00 a.m. ET, to discuss these results. Interested parties can access the call by dialing (866) 757-5630 and using conference ID 4656216. A replay will be available until August 13, 2021. Investors can also listen via a webcast on the company's website.

Portman Ridge Finance Corporation (Nasdaq: PTMN) announced the completion of a $28 million private placement of 4.875% senior unsecured notes due 2026. The net proceeds amounted to approximately $27.4 million, intended to redeem higher-interest debt and support investments in portfolio companies. This move is aimed at reducing the company's cost of debt significantly. The notes will mature on April 30, 2026, and can be repaid early at the company’s discretion. CEO Ted Goldthorpe emphasized this as a step towards enhancing capital efficiency and shareholder value.