Portman Ridge Finance Corp

Portman Ridge Finance Corp. is a private equity fund and non-diversified closed-end investment company that invests in middle market companies generating consistent cash flows located in North America. It targets companies operating across a broad range of sectors such as aerospace and defense, automotive, beverage, food and tobacco, broadcasting and entertainment, buildings and real estate, personal and cargo transport, chemicals, plastics and rubber, containers, packaging and glass, diversified or conglomerate service, ecological, electronics, finance, and healthcare. The company was founded on August 8, 2006 and is headquartered in New York, NY.

Earnings data Q1 2021

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Portman Ridge Finance Corp reports strong Q2 earnings and optimistic outlook for growth

Portman Ridge Finance Corp's Q2 2024 performance reflects solid financial results, strategic initiatives, and a positive outlook for the future. Despite challenges in private credit spreads, the company's diversified portfolio and enhanced credit facility provide a strong foundation for growth and value creation.

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NEW YORK, June 24, 2021 (GLOBE NEWSWIRE) -- Portman Ridge Finance Corporation (Nasdaq: PTMN) (the “Company” or “Portman Ridge”), a business development company, today announced that on June 23, 2021, it closed a private placement of $28.0 million in aggregate principal amount of 4.875% senior unsecured notes due 2026 (the “Notes”). The Notes have identical terms to the Company's $80.0 of aggregate principal amount of 4.875% Notes due 2026 that were issued on April 30, 2021. The net proceeds to the Company were approximately $27.4 million, after deducting payment of fees and estimated offering expenses.

Portman Ridge Finance Corporation Closes Private Placement of $28 Million of 4.875% Senior Unsecured Notes due 2026

NEW YORK, June 09, 2021 (GLOBE NEWSWIRE) -- Portman Ridge Finance Corporation (NASDAQ: PTMN) (the “Company” or “PTMN”) announced today the closing of the previously announced merger with Harvest Capital Credit Corporation (formerly NASDAQ: HCAP) (“HCAP”). The combined company, which will remain externally managed by Sierra Crest Investment Management LLC (“Sierra Crest”), an affiliate of BC Partners Advisors L.P. (“BC Partners”), is expected to have total assets of approximately $614 million and net asset value of approximately $268 million after closing.

Portman Ridge Finance Corporation Completes Merger with Harvest Capital Credit Corporation

Portman Ridge Finance's (PTMN) CEO Ted Goldthorpe on Q1 2021 Results - Earnings Call Transcript

NEW YORK, May 06, 2021 (GLOBE NEWSWIRE) -- Portman Ridge Finance Corporation (Nasdaq: PTMN) (the “Company” or “Portman Ridge”) announced today its financial results for the first quarter ended March 31, 2021 and declared a quarterly stockholder distribution of $0.06 per share, payable on June 1, 2021 to stockholders of record at the close of business on May 19, 2021.

Portman Ridge Finance Corporation Announces First Quarter 2021 Financial Results; Declares Quarterly Distribution of $0.06 Per Share

Call Scheduled for 8:00 a.m. Eastern Time on Friday, May 7, 2021 Call Scheduled for 8:00 a.m. Eastern Time on Friday, May 7, 2021

Portman Ridge Finance Corporation to Report First Quarter 2021 Financial Results and Hold Conference Call

Portman Ridge Finance Corporation (PTMN) CEO Ted Goldthorpe on Q4 2020 Results - Earnings Call Transcript

NEW YORK, March 11, 2021 (GLOBE NEWSWIRE) -- Portman Ridge Finance Corporation (Nasdaq: PTMN) (the “Company” or “Portman Ridge”) announced today its financial results for the fourth quarter and full year ended December 31, 2020.

Portman Ridge Finance Corporation Announces Fourth Quarter and Full Year 2020 Financial Results

NEW YORK, Feb. 12, 2021 (GLOBE NEWSWIRE) -- Portman Ridge Finance Corporation (Nasdaq: PTMN) (the “Company” or “Portman Ridge”), a business development company, today announced that its Board of Directors approved a cash distribution of $0.06 per share of common stock. The distribution is payable on March 2, 2021, to shareholders of record at the close of business on February 22, 2021.

Portman Ridge Finance Corporation Announces Distribution of $0.06 per Share

NEW YORK, Jan. 12, 2021 (GLOBE NEWSWIRE) -- Portman Ridge Finance Corporation (Nasdaq: PTMN) (the “Company” or “Portman Ridge”), a business development company, today announced that its Chief Financial Officer (CFO) and Treasurer, Edward (Ted) Gilpin, has communicated his plans to retire and that Jason T. Roos will succeed him as the Company's CFO, effective March 1, 2021. Mr. Gilpin will remain with the Company through March 1, 2021 to ensure a smooth transition.

Portman Ridge Finance Corporation Names Jason T. Roos As Chief Financial Officer

Combined Entity Will be Managed by an Affiliate of BC Partners Advisors L.P.; Companies to Host Conference Call at 8:30 AM ET on December 24, 2020 to Discuss Combined Entity Will be Managed by an Affiliate of BC Partners Advisors L.P.; Companies to Host Conference Call at 8:30 AM ET on December 24, 2020 to Discuss

Harvest Capital Credit Corporation to Merge into Portman Ridge Finance Corporation

PTMN trades at a stunning 43% discount to NAV and yields 14.7%. PTMN reported a strong Q3 earnings report with higher NAV and improvements in credit quality.

Portman Ridge: Can This 14.7% Yielder Grow Its Way To Stronger Dividend Coverage?

Portman Ridge Finance Corporation (PTMN) CEO Ted Goldthorpe on Q3 2020 Results - Earnings Call Transcript

Garrison Capital

NEW YORK--(BUSINESS WIRE)--Portman Ridge Finance Corporation (Nasdaq: PTMN) (the “Company”) will release its financial results for the quarter ended September 30, 2020 on Monday, November 9th, 2020 after the markets close. The Company will host a conference call on Tuesday, November 10th, 2020 at 9:00 a.m. Eastern Time to discuss these results. The Company will also discuss the previously announced completion of the merger of the Company and Garrison Capital Inc. (formerly Nasdaq: GARS) during

Portman Ridge Finance Corporation to Report Third Quarter 2020 Financial Results on November 9th, 2020; Conference Call Scheduled

NEW YORK--(BUSINESS WIRE)--Portman Ridge Finance Corporation (Nasdaq: PTMN) (the “Company” or “PTMN”) and Garrison Capital Inc. (formerly Nasdaq: GARS) (“GARS”) announced today the closing (the “Closing”) of the previously announced transaction under which GARS will be merged into PTMN. As a result of the Closing, October 28, 2020 has been set as the record date (the “Record Date”) for the GARS stockholders' right to receive the $5.0 million cash payment from an affiliate of BC Partners Advisor

Portman Ridge Finance Corporation Closes Merger with Garrison Capital Inc.

NEW YORK--(BUSINESS WIRE)--Portman Ridge Finance Corporation (Nasdaq: PTMN) (the “Company” or “PTMN”) and Garrison Capital Inc. (Nasdaq: GARS) (“GARS”) announced today that each company has obtained stockholder approval for the previously announced proposed merger of the two companies (the “Merger”) at their respective special meetings held on October 19, 2020. Stockholders voted overwhelmingly in favor of the proposed transaction as over 95% of PTMN stockholders and almost 99% of GARS stockhol

Portman Ridge Finance Corporation and Garrison Capital Inc. Announce Stockholder Approval of Merger

Recent management changes and the anticipated merger with Garrison Capital add a considerable amount of uncertainty for future performance.

Portman Ridge - The Good, The Bad And The Ugly

NEW YORK--(BUSINESS WIRE)--In the second sentence of release the end date should read: March 5, 2021 (instead of March 5, 2020). The updated release reads: PORTMAN RIDGE FINANCE CORPORATION ESTABLISHES 10B5-1 STOCK TRADING PLAN Portman Ridge Finance Corporation (Nasdaq: PTMN) (the “Company”), a business development company, today announced that it has entered into a Rule 10b5-1 stock trading plan to facilitate the repurchase of shares of its common stock in accordance with its $10 million share

CORRECTING and REPLACING Portman Ridge Finance Corporation Establishes 10b5-1 Stock Trading Plan

NEW YORK--(BUSINESS WIRE)--Portman Ridge Finance Corporation (Nasdaq: PTMN) (the “Company”), a business development company, today announced that it has entered into a Rule 10b5-1 stock trading plan to facilitate the repurchase of shares of its common stock in accordance with its $10 million share repurchase program previously announced on March 9, 2020. An independent U.S.

Portman Ridge Finance Corporation Establishes 10b5-1 Stock Trading Plan

Portman Ridge Finance Corporation (PTMN) CEO Ted Goldthorpe on Q2 2020 Results - Earnings Call Transcript

NEW YORK, Aug.  06, 2020  (GLOBE NEWSWIRE) -- Portman Ridge Finance Corporation (Nasdaq: PTMN) (the “Company”) announces its second quarter 2020 financial results and declaration of a $0.06 per share stockholder distribution for the third quarter of 2020.

Portman Ridge Finance Corporation Announces Second Quarter 2020 Financial Results; Declares Quarterly Distribution of $0.06 per share

NEW YORK, July  30, 2020  (GLOBE NEWSWIRE) -- Portman Ridge Finance Corporation (Nasdaq: PTMN) (the “Company”) will release its financial results for the quarter ended June 30, 2020 on Thursday, August 6th, 2020 before the markets open. The Company will host a conference call on Monday, August 10th, 2020 at 4:00 pm Eastern Time.

Portman Ridge Finance Corporation to Report Second Quarter 2020 Financial Results on August 6th, 2020; Conference Call Scheduled

Combined Entity To Be Managed by an Affiliate of BC Partners Advisors L.P. Combined Entity To Be Managed by an Affiliate of BC Partners Advisors L.P.

Garrison Capital Inc. - to Merge with Portman Ridge Finance Corporation

Portman Ridge Finance Corporation (PTMN) CEO Ted Goldthorpe on Q1 2020 Results - Earnings Call Transcript

NEW YORK, April  01, 2020  (GLOBE NEWSWIRE) -- In response to the continued uncertainty and unprecedented impact that the COVID-19 global pandemic is having on both the capital markets and economies around the world, Portman Ridge Finance Corporation (“we,” “us,” “our,” “Portman Ridge” or the “Company”) is providing an update to all of our stakeholders. As always, but especially in times like these, we hope all of our stakeholders are healthy and safe. Our investment advisor, Sierra Crest Investment Management LLC (“Sierra Crest”, an affiliate of BC Partners Advisors L.P.), has taken all necessary steps to ensure that its employees can operate remotely and maintain full business continuity. Furthermore, we are in constant contact with our portfolio companies, sponsors and lender groups to provide support and advice as necessary.

Open Letter to Stakeholders

NEW YORK, March  17, 2020  (GLOBE NEWSWIRE) -- In response to the current market conditions and shareholder feedback, the Board of Directors of Portman Ridge Finance Corporation (Nasdaq: PTMN) has proactively approved a cash distribution of $0.06 per share of common stock, consistent with the current dividend policy. The distribution is payable on May 27, 2020 to shareholders of record at the close of business as of May 7, 2020.

News for Portman Ridge Finance Corp ETF (PTMN)