Logan Ridge Finance Corporation Announces Success

NEW YORK, July 06 12, 2022 (GLOBE NEWSWIRE) — Logan Ridge Finance Corporation (“LRFC”, “Logan Ridge” or the “Company”) (Nasdaq: LRFC) today announced that on June 29, 2022, Eastport Holdings, LLC, a Logan Ridge portfolio, completed a refinancing and recapitalization transaction.

As a result of this transaction, Logan Ridge received $16.5 million in cash and $19.25 million in principle of new debt in exchange for all of its previous debt and equity securities. The new debt security will mature on September 29, 2027 and will bear interest at SOFR+850 3 months, with a SOFR floor of 1.0%.

Ted Goldthorpe, CEO and President of LRFC, said: “We are delighted to announce the recapitalization of our investment in Eastport as this significantly reduces our exposure to non-interest bearing stocks and represents an important step for the company. . It also demonstrates our ability to execute on the strategic initiatives we shared with shareholders when we took over management of the portfolio just over a year ago. This transaction, coupled with the work we have done on the right side of the balance sheet to reduce the company’s cost of debt capital, is transformative for Logan Ridge and positions it well for the future.

About Logan Ridge Finance Corporation
Logan Ridge Finance Corporation (Nasdaq: LRFC) is a business development company that invests primarily in senior loans and, to a lesser extent, junior loans and equity securities issued by lower middle market companies. The Company invests in successful and well-established middle-market companies that operate in a wide range of industries. It uses fundamental credit analysis, targeting investments in companies with relatively low levels of cyclicality and operational risk. For more information, visit loganridgefinance.com.

About Mount Logan Capital Inc.
Mount Logan Capital Inc. is an alternative asset management firm focused on public and private debt securities in the North American market. The Company seeks to source and actively manage loans and other debt-like securities with credit-oriented characteristics. The Company actively sources, evaluates, underwrites, manages, monitors and invests in loans, debt securities and other credit-oriented instruments that offer attractive risk-adjusted yields and low risk of capital depreciation over throughout the credit cycle.

About BC Partners Advisors LP and BC Partners Credit
BC Partners is a leading international investment firm with over $40 billion in assets under management in private equity, private credit and real estate strategies. Founded in 1986, BC Partners has played an active role in developing the European buyout market for three decades. Today, BC Partners’ leaders operate in all markets as an integrated team across the firm’s offices in North America and Europe. Since its inception, BC Partners has made 117 private equity investments in companies with a total enterprise value of €149 billion and is currently investing its eleventh private equity fund.

BC Partners Credit was launched in February 2017 and has pursued a strategy focused on identifying attractive credit opportunities in any market environment and across all sectors, leveraging deal sourcing and the infrastructure provided by BC Partners.

Caution Regarding Forward-Looking Statements
This communication contains “forward-looking” statements. Forward-looking statements relate to future circumstances and results and other statements that are not historical facts and are sometimes identified by the words “may”, “will”, “should”, “potential”, “intends of”, “expects”, “strives”, “seek”, “anticipate”, “estimate”, “overestimate”, “underestimate”, “believe”, “could”, “project”, “predict”, “continue”, “target” or other similar words or expressions. Forward-looking statements are based on current plans, estimates and expectations which are subject to risks, uncertainties and assumptions. If one or more of such risks or uncertainties materialize, or if underlying assumptions prove incorrect, actual results could differ materially from those indicated or anticipated by such forward-looking statements.The inclusion of such statements should not be construed as a representation that such plans, estimates or expectations will be nt realized. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include the risk factors detailed in the Company’s reports filed with the Securities and Exchange Commission (“SEC”), including the the Company’s annual report on Form 10-K, periodic quarterly reports on Form 10-Q, current reports on Form 8-K and other documents filed with the SEC.

All forward-looking statements speak only as of the date of this communication. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information or new developments, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements.

For more information, contact:

Logan Ridge Financial Corporation
650 Madison Ave, 23rd Floor
New York, NY 10022

Jason Roos
Financial director
[email protected]
(212) 891-5046

Equity Group Inc.
Lena Cati
[email protected]
(212) 836-9611

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