Portman Ridge Finance (PTMN) Stock

Portman Ridge Finance Corporation (NASDAQ:PTMN ) Q3 2024 Earnings Conference Call November 12, 2024 10:00 AM ET Company Participants Ted Goldthorpe - Chief Executive Officer, President & Director Patrick Schafer - Chief Investment Officer Brandon Satoren - Chief Financial Officer Conference Call Participants Christopher Nolan - Ladenburg Thalmann Steven Martin - Slater Capital Paul Johnson - KBW Operator Welcome to Portman Ridge Finance Corporation's Third Quarter 2024 Earnings Conference Call. An earnings press release was distributed Thursday, November 7th after market closed.

Portman Ridge Finance Corporation (NASDAQ:PTMN ) Q2 2024 Earnings Conference Call August 9, 2024 10:00 AM ET Company Participants Ted Goldthorpe - Chief Executive Officer, President and Director Patrick Schafer - Chief Investment Officer Brandon Satoren - Chief Financial Officer, Secretary and Treasurer Conference Call Participants Christopher Nolan - Ladenburg Deepak Sarpangal - Repertoire Partners Steven Martin - Slater Capital Management Operator Good morning, ladies and gentlemen, and welcome to Portman Ridge Finance Corporation's Second Quarter 2024 Earnings Conference Call. An earnings press release was distributed yesterday, August 8th, after market close.

Reports Net Investment Income of $0.70 Per Share and Net Asset Value of $21.21 Per Share Amends and Extends Existing Senior Secured Revolving Credit Facility; Upsizes Commitments to $200.0 Million from $115.0 Million, Reduces Interest Rate Margin to 2.50% from 2.80% Continued Share Repurchase Program: Total of 79,722 Shares for an Aggregate Cost of Approximately $1.6 Million Repurchased During the Second Quarter; Accretive to NAV by $0.03 Per Share Announces Third Quarter 2024 Quarterly Distribution of $0.69 Per Share NEW YORK, Aug. 08, 2024 (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, 2024. Second Quarter 2024 Highlights Total investment income for the second quarter of 2024 was $16.3 million, as compared to $16.5 million for the first quarter of 2024.

Upsizes Commitments to $200.0 Million from $115.0 Million Reduces Interest Rate Margin to 2.50% from 2.80% NEW YORK, July 29, 2024 (GLOBE NEWSWIRE) -- Portman Ridge Finance Corporation (Nasdaq: PTMN) (the “Company”) today announced that it has amended and extended its existing senior secured revolving credit facility (“Credit Facility”) with JPMorgan Chase Bank, National Association (“JPM”). Under the terms of the amendment, there was a committed increase to the aggregate principal amount of the Credit Facility in an amount not to exceed $85.0 million, for a total of $200.0 million, the applicable margin was reduced from 2.80% per annum to 2.50% per annum, and there was a committed seven-day bridge advance in an aggregate principal amount of approximately $18.3 million.

NEW YORK, July 08, 2024 (GLOBE NEWSWIRE) -- Portman Ridge Finance Corporation (Nasdaq: PTMN) (“Portman Ridge” or the “Company”) to release its financial results for the second quarter ended June 30, 2024, on Thursday, August 8, 2024, after market close. The Company will host a conference call on Friday, August 9, 2024, at 10:00 a.m.

Portman Ridge Finance Corporation will announce its financial results for the first quarter of 2024 on May 8, 2024, after the market closes. A conference call will follow on May 9, 2024, at 9:00 a.m.

BCPC created PTMN by purchasing several underperforming BDCs with the goal of selling off the Legacy investments and replacing them with Core MM Loans ("Portfolio Optimization Process"). The Portfolio Optimization Process is almost completed, with Legacy investments only making up 27% of its investments. The process hasn't come without pain. PTMN incurred realized and unrealized losses of $4.39/share and $2.76/share over the last 2 years. Most of the losses were related to its Legacy investments.

NEW YORK, Jan. 17, 2024 (GLOBE NEWSWIRE) -- Portman Ridge Finance Corporation (Nasdaq: PTMN) (“Portman Ridge” or the “Company”) to release its financial results for the fourth quarter and full year ended December 31, 2023, on Wednesday, March 13, 2024, after market close. The Company will host a conference call on Thursday, March 14, 2024, at 9:00 a.m.

Portman Ridge Finance is a small business development company investing in middle market businesses across various sectors. The company's portfolio at fair value has been falling with its net asset value also experiencing weakness but with buybacks helping to repair the per share figure. A 15% dividend yield that's 109% covered by fiscal 2023 third quarter net investment income is under pressure to open the specter of a dividend cut this year.