PTMN Stock Recent News

Portman Ridge Finance Corporation (NASDAQ:PTMN ) Q2 2025 Earnings Conference Call August 8, 2025 10:00 AM ET Company Participants Brandon Satoren - Chief Financial Officer, Secretary & Treasurer Edward Joseph Goldthorpe - Chairman, CEO & President Patrick Schafer - Chief Investment Officer & Director Conference Call Participants Christopher Whitbread Patrick Nolan - Ladenburg Thalmann & Co. Inc., Research Division Erik Edward Zwick - Lucid Capital Markets, LLC Steven L. Martin - Slater Capital Management LLC Operator Welcome to Portman Ridge Finance Corporation's Second Quarter Ended June 30, 2025 Earnings Conference Call.

Portman Ridge (PTMN) came out with quarterly earnings of $0.5 per share, beating the Zacks Consensus Estimate of $0.47 per share. This compares to earnings of $0.7 per share a year ago.

Completed Merger with Logan Ridge Finance Corporation Reports Net Investment Income of $4.6 Million, or $0.50 Per Share for the Second Quarter Announces Third Quarter 2025 Quarterly Base Distribution of $0.47 Per Share and Supplemental Distribution of $0.02 per share NEW YORK, Aug. 07, 2025 (GLOBE NEWSWIRE) -- Portman Ridge Finance Corporation (Nasdaq: PTMN) (the “Company” or “Portman Ridge”) announced today its financial results for the second quarter ended June 30, 2025. Transformational Milestone On July 15, 2025, Portman Ridge closed the previously announced merger of Logan Ridge Finance Corporation (“Logan Ridge”) with and into Portman Ridge, with Portman Ridge remaining as the surviving company.

NEW YORK, July 16, 2025 (GLOBE NEWSWIRE) -- Portman Ridge Finance Corporation (Nasdaq: PTMN) (“Portman Ridge” or the “Company”) is to release its financial results for the second quarter ended June 30, 2025, on Thursday, August 7, 2025, after market close. The Company will host a conference call on Friday, August 8, 2025, at 10:00 a.m.

NEW YORK, July 15, 2025 (GLOBE NEWSWIRE) -- Portman Ridge Finance Corporation (NASDAQ: PTMN) (“Portman Ridge” or “PTMN”) today announced the closing of the previously announced merger of Logan Ridge Finance Corporation (NASDAQ: LRFC) (“Logan Ridge” or “LRFC”) with and into PTMN, with PTMN remaining as the surviving company. Based on July 11, 2025 financial data, the combined company had total assets in excess of $600 million.

We take a look at the action in business development companies through the third week of June and highlight some of the key themes we are watching. The BDC sector remains range-bound, with high-premium names outperforming. Portman Ridge Finance rebrands as BCP Investment Corporation, introduces monthly distributions, share buybacks, and adviser stock purchases post-merger with LRFC.

NEW YORK, June 27, 2025 (GLOBE NEWSWIRE) -- Portman Ridge Finance Corporation (NASDAQ: PTMN) (“Portman Ridge” or “PTMN”) announced today that it obtained shareholder approval for the issuance of PTMN common stock in connection with the proposed merger of Logan Ridge Finance Corporation (NASDAQ: LRFC) (“Logan Ridge” or “LRFC”) with and into PTMN (the “Share Issuance Proposal”) following the adjourned special meeting of shareholders held on June 27, 2025.

We take a look at the action in business development companies through the first week of June and highlight some of the key themes we are watching. BDC are flat year-to-date on average, with valuations below historical averages. Net investment income declines are sector-wide, driven by rate changes, not management issues; NII is expected to stabilize as rates have leveled off.

Stockholders of PTMN Who Have Voted Thus Far Have Expressed Strong Support for the Proposed Merger Both Leading Independent Proxy Advisors, Institutional Shareholder Services (“ISS”) and Glass Lewis & Co. (“Glass Lewis”), Have Recommended PTMN Stockholders Vote “FOR” the Share Issuance Proposal NEW YORK, June 05, 2025 (GLOBE NEWSWIRE) -- Portman Ridge Finance Corporation (NASDAQ: PTMN) (“Portman Ridge” or “PTMN”) announced today that its Special Meeting of Stockholders (the “PTMN Special Meeting”) will take place on June 20, 2025, rather than June 6, 2025, to provide stockholders with additional time to cast their vote to approve the share issuance proposal in connection with the proposed merger of Logan Ridge Finance Corporation (NASDAQ: LRFC) (“Logan Ridge” or “LRFC”) with and into PTMN (the “Share Issuance Proposal”). Stockholders of PTMN can attend the meeting and cast their votes by following the instructions outlined in the amended joint proxy

I maintain my sell rating on PTMN due to weak earnings, ongoing NAV decline, and deteriorating dividend coverage, despite a large discount to NAV. PTMN's portfolio quality is slipping, with non-accruals rising to 2.6% and limited new investment activity, signaling ongoing downside risk. The current 16.1% dividend yield is barely covered by earnings, leaving little margin for error and raising concerns about future payout sustainability.