Portman Ridge Finance Corporation Resumes Share Repurchases Under a New 10b5-1 Stock Trading Plan
23 Março 2023 - 7:06PM
Portman Ridge Finance Corporation (Nasdaq: PTMN) (the “Company”)
today announced that it has entered into a new Rule 10b5-1 stock
trading plan to facilitate the repurchase of its common stock in
accordance with its recently re-authorized $10 million share
repurchase program, effective March 22, 2023.
Repurchases may be made in the open market at
prevailing market prices from time to time as market conditions
warrant. All repurchases will be implemented in accordance with the
applicable requirements of Rules 10b5-1 and 10b-18 under the U.S.
Securities Exchange Act of 1934.
An independent U.S. broker-dealer is acting as
the Company’s agent to purchase its shares on pre-arranged terms
pursuant to the Rule 10b5-1 stock trading plan.
Under the share repurchase program,
re-authorized by the Company’s Board of Directors on March 6, 2023,
the Company may repurchase up to an aggregate of $10 million of its
shares of common stock in the open market until March 31, 2024,
including pursuant to the above-described new Rule 10b5-1 stock
trading plan.
About Portman Ridge Finance
Corporation
Portman Ridge Finance Corporation (Nasdaq: PTMN)
is a publicly traded, externally managed investment company that
has elected to be regulated as a business development company under
the Investment Company Act of 1940. Portman Ridge’s middle market
investment business originates, structures, finances and manages a
portfolio of term loans, mezzanine investments and selected equity
securities in middle market companies. Portman Ridge’s investment
activities are managed by its investment adviser, Sierra Crest
Investment Management LLC, an affiliate of BC Partners Advisors,
LP.
Portman Ridge’s filings with the Securities and
Exchange Commission (the “SEC”), earnings releases, press releases
and other financial, operational and governance information are
available on the Company's website at www.portmanridge.com.
Cautionary Statement Regarding
Forward-Looking Statements
This press release contains forward-looking
statements regarding repurchases of shares of the Company’s common
stock. There is no assurance that repurchases will be made in any
specific amounts or that the market price of the Company’s shares,
either absolutely or relative to net asset value, will increase as
a result of any share repurchases, or that any repurchases will
enhance stockholder value over the long term. The forward-looking
statements should be read in conjunction with the risks and
uncertainties discussed in the Company’s filings with the SEC,
including the Company’s most recent Form 10-K and other SEC
filings.
Contacts:Portman Ridge Finance
Corporation650 Madison Avenue, 23rd floorNew York, NY
10022info@portmanridge.com
Jason Roos Jason.Roos@bcpartners.com (212)
891-2880
The Equity Group Inc.Lena
Catilcati@equityny.com(212) 836-9611
Val Ferrarovferraro@equityny.com (212)
836-9633
Portman Ridge Finance (NASDAQ:PTMN)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Portman Ridge Finance (NASDAQ:PTMN)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024