Logan Ridge Finance rises on merger agreement with Portman Ridge Finance
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))
Recent news on Logan Ridge Finance
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Brief: Logan Ridge Finance Corp announces adviser funded cash payment to shareholders in connection with its merger with Portman Ridge Finance Corp
Brief: Leading Independent Proxy Advisory Firms Glass Lewis and ISS Recommend that Shareholders Vote “FOR” the Proposed Merger Between PTMN and LRFC
Logan Ridge Finance Corp reports results for the quarter ended March 31 - Earnings Summary