Portman Ridge Finance Corporation announces the completion of

NEW YORK, Aug. 26, 2021 (GLOBE NEWSWIRE) — Portman Ridge Finance Corporation (Nasdaq: PTMN) (the “Company”, “Portman Ridge” or “PTMN”) announced that its previously announced 1:10 return rate on The stock split became effective today, Thursday, August 26, 2021, and its common stock will begin trading on a split-adjusted basis on the Nasdaq Stock Market at market open. Following the reverse stock split, the number of issued and outstanding common shares of the Company will be reduced on a 10:1 basis, such that each shareholder will receive one share for every ten shares held. Trading in the common shares will continue on the Nasdaq stock market under the symbol “PTMN” under a new CUSIP number 73688F201.

The reverse stock split was approved by Portman Ridge shareholders at its annual meeting of shareholders held on June 7, 2021, and on August 4, 2021, a reverse stock split ratio of 1:10 shares was approved by the board of directors of the company. .

No fractional shares will be issued following the reverse stock split. Instead, any shareholder who would have been entitled to receive a fractional share as a result of the stock consolidation will receive cash payments in lieu of those fractional shares. The Share Consolidation affects all shareholders evenly and will not change a shareholder’s percentage interest in the outstanding common shares of the Company, except for adjustments that may result from the treatment of fractional shares. .

In connection with the reverse stock split, the Company’s certificate of incorporation was amended to reduce the authorized number of common shares of the Company from 100 million shares to 20 million shares. Additional information regarding the reverse stock split can be found in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on April 23, 2021.

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. The Portman Ridge’s middle market investment business originates, structures, finances and manages a portfolio of term loans, mezzanine investments and select equity securities in middle market companies. Portman Ridge’s investment activities are managed by its investment advisor, Sierra Crest Investment Management LLC, a subsidiary 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.

Caution Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The matters discussed in this press release, as well as in future oral and written statements by Portman Ridge Finance Corporation management, which are forward-looking statements, are based on management’s current expectations which involve substantial risks and uncertainties. which could cause actual results to differ. materially of the results expressed or implied by such forward-looking statements.

Forward-looking statements relate to future events or our future financial performance and include, but are not limited to, projected financial performance, expected business development, plans and expectations regarding future investments and future liquidity of the Society. We generally identify forward-looking statements by words such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “could”, “intend”, “target”, “projects”, “outlooks”, “intends”, “believes”, “estimates”, “predicts”, “potential” or “continues” or the negative form of these terms or other similar words. Forward-looking statements are based on current plans, estimates and expectations which are subject to risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from those indicated or anticipated by such forward-looking statements.

contacts:

Portman Ridge Financial Corporation
650 Madison Ave, 23rd Floor
New York, NY 10022
[email protected]

Jason Roos
[email protected]
(212) 891-5007

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

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