- The Special Meeting of Logan Ridge Finance Corporation (LRFC, Financial) has been rescheduled to June 20, 2025.
- Stockholders will vote on the proposed merger with Portman Ridge Finance Corporation (PTMN).
- Leading proxy advisory firms ISS and Glass Lewis recommend stockholders vote 'FOR' the merger.
Logan Ridge Finance Corporation (LRFC) has rescheduled its Special Meeting of Stockholders to June 20, 2025, from the original date of June 6, 2025. This extension provides additional time for shareholders to vote on the proposed merger with Portman Ridge Finance Corporation (PTMN). The LRFC Board of Directors unanimously recommends stockholders vote 'FOR' the merger proposal.
Stockholders who were registered as of the May 6, 2025, record date are eligible to participate in the virtual meeting. They can access the meeting at www.virtualshareholdermeeting.com/LRFC2025SM or by calling 1-833-218-3962, using the control number provided in their proxy materials. Those who have already voted do not need to take any further action unless they wish to change their vote, as previously submitted proxies will remain valid for the new meeting date.
The proposed merger has also received support from major proxy advisory firms Institutional Shareholder Services (ISS) and Glass Lewis, both of which have recommended that LRFC stockholders vote in favor of the merger. This backing from influential advisory firms is crucial, as it tends to hold significant sway with institutional investors.
The strategic decision to postpone the meeting reflects a standard corporate governance practice to ensure sufficient votes are secured. The company aims to enhance shareholder engagement to meet quorum requirements and voting thresholds necessary for the merger approval.
