Logan Ridge Finance Corporation Receives “BBB-” Investment

NEW YORK, Oct. 27, 2021 (GLOBE NEWSWIRE) — Logan Ridge Finance Corporation (Nasdaq: LRFC) (the “Company” or “Logan Ridge”), a business development company, today announced that it has is assigned a credit rating of “BBB-” by Egan-Jones Rating Company (“Egan-Jones”). In addition, Logan Ridge announced that it has priced a $50 million private placement of an aggregate principal amount of 5.25% senior unsecured notes due 2026 (the “Notes”) ). The offering is expected to close on Friday, October 29, 2021, subject to customary closing conditions. Net proceeds to the Company are expected to be approximately $48.8 million, after payment of fees and estimated offering costs.

The notes bear interest at the rate of 5.25% per annum, payable semi-annually and will mature on October 30, 2026. The Company intends to use the net proceeds of the private placement to repay certain indebtedness, in particular to repurchase a portion 2022 banknotes in circulation. , and for general corporate purposes.

“We are very pleased to announce the achievement of an investment grade rating and this private placement transaction which significantly reduces our cost of debt,” said Ted Goldthorpe, President and CEO of Logan Ridge. “We will continue to evaluate options to improve our overall cost of capital to support our portfolio companies and drive shareholder value.”

This press release is neither an offer to sell nor a solicitation of an offer to buy the Bonds and will not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. . Any offer of Notes will be made only by private offering memorandum. This press release is issued pursuant to Rule 135c of the Securities Act.

The Notes have not been registered under the Securities Act or any state securities law and may not be offered or sold in the United States absent registration or an applicable exemption from such requirements. ‘registration.

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.

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

Jeehae Linford
Equity Group Inc.
[email protected]
(212) 836-9615

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