- Portman Ridge Finance Corporation (PTMN, Financial) reschedules its Special Meeting to June 20, 2025.
- Both ISS and Glass Lewis recommend voting in favor of the merger with Logan Ridge Finance Corporation (LRFC).
- Stockholders can vote online or via phone; no further action needed if votes already cast.
Portman Ridge Finance Corporation (PTMN) has announced a postponement of its Special Meeting of Stockholders to June 20, 2025, from the initially scheduled June 6, 2025. This rescheduling aims to provide shareholders more time to vote on the Share Issuance Proposal associated with the planned merger with Logan Ridge Finance Corporation (LRFC).
The PTMN Board of Directors has unanimously recommended that shareholders vote "FOR" the merger proposals. In addition, the merger has received endorsements from leading proxy advisory firms, Institutional Shareholder Services (ISS) and Glass Lewis, both of which have advised stockholders to support the merger.
Eligible stockholders, those recorded as of May 6, 2025, are invited to participate in the meeting virtually. They can access the meeting via the company's website or by calling the provided number with a control number from their proxy. Stockholders who have already voted need not take any additional action, as previously submitted proxies will remain valid unless revoked. The company has indicated robust support from shareholders who have already voted.
PTMN is a publicly traded company that operates as a business development company focused on middle market investments. The company manages a portfolio that includes term loans, mezzanine investments, and selected equity securities.
