Logan Ridge Finance rises on merger agreement with Portman Ridge Finance

BCP Investment

30/01/2025 14:29

** Shares of business development company Logan Ridge
Finance Corporation  LRFC.O  up 7.82% at $26.20 premarket
    ** LRFC enters merger agreement with Portman Ridge Finance
Corporation  PTMN.O  
    ** Logan Ridge Finance Corporation shareholders to receive
1.50 PTMN shares per LRFC share
    ** Merger expected to be immediately accretive to companies'
core net investment income
    ** Companies also expect merger to be completed in Q2 2025
    ** Say Sierra Crest Investment Management LLC, affiliate of
BC Partners Advisors L.P, will manage combined entity
    ** LRFC stock gained ~10.53% in 2024

 (Reporting by Subiksha S in Bangalore)
 ((Subiksha.S@thomsonreuters.com))