Brief: Harvest Capital Credit Corporation To Merge Into Portman Ridge Finance Corporation

BCP Investment

23/12/2020 23:13

Dec 23 (Reuters) - Portman Ridge Finance Corp  PTMN.O :
    * PRESS RELEASE - HARVEST CAPITAL CREDIT CORPORATION TO
MERGE INTO
PORTMAN RIDGE FINANCE CORPORATION
    * PORTMAN RIDGE FINANCE CORP - CURRENT HCAP STOCKHOLDERS ARE
EXPECTED TO OWN APPROXIMATELY 16.6% OF COMBINED COMPANY
    * PORTMAN RIDGE FINANCE CORP - HCAP STOCKHOLDERS WILL
RECEIVE
AGGREGATE CONSIDERATION EQUAL TO HCAP'S NET ASSET VALUE AT
CLOSING
    * PORTMAN RIDGE FINANCE - HCAP STOCKHOLDERS WILL HAVE
OPPORTUNITY
TO ELECT TO RECEIVE EITHER CASH OR PTMN SHARES IN CONSIDERATION
FOR THEIR HCAP SHARES
    * PORTMAN RIDGE - ADDITIONALLY, ALL HCAP STOCKHOLDERS TO
RECEIVE
ADDITIONAL CASH PAYMENT FROM SIERRA CREST OF $2.15 MILLION IN
AGGREGATE, OR ABOUT $0.36/SHARE
    * PORTMAN RIDGE FINANCE CORP - COMBINED COMPANY WILL BE
EXTERNALLY
MANAGED BY SIERRA CREST AND IS EXPECTED TO HAVE NET ASSET VALUE
OF ABOUT $248 MILLION
    * PORTMAN RIDGE FINANCE CORP - STOCKHOLDERS SHOULD EXPECT TO
REALIZE NET INVESTMENT INCOME PER SHARE ACCRETION FOLLOWING
CLOSING OF TRANSACTION

Source text for Eikon:  ID:nGNXc10jmb 
Further company coverage:  PTMN.O 

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