Portman Ridge Finance Company (Nasdaq: PTMN) (the “Firm” or “PTMN”) and Garrison Capital Inc. (Nasdaq: GARS) (“GARS”) introduced right this moment that every firm has obtained stockholder approval for the beforehand introduced proposed merger of the 2 corporations (the “Merger”) at their respective particular conferences held on October 19, 2020.
Stockholders voted overwhelmingly in favor of the proposed transaction as over 95% of PTMN stockholders and nearly 99% of GARS stockholders who voted on the conferences voted in favor of the Merger. The closing of the Merger is anticipated to happen on or about October 28, 2020, topic to satisfaction of customary closing circumstances.
Ted Goldthorpe, CEO of PTMN, said, “We wish to thank our stockholders for his or her robust help and approval of the merger. We’re assured that the added measurement and scale of the general platform, and the assets of a big asset administration agency, will ship significant advantages to all stakeholders of the mixed firm.”
About Portman Ridge Finance Company
Portman Ridge Finance Company (Nasdaq: PTMN) is a publicly traded, externally managed funding firm that has elected to be regulated as a enterprise improvement firm below the Funding Firm Act of 1940. Portman Ridge Finance Companys center market funding enterprise originates, buildings, funds and manages a portfolio of time period loans, mezzanine investments and chosen fairness securities in center market corporations. The Firms funding actions are managed by its funding adviser, Sierra Crest Funding Administration LLC, an affiliate of BC Companions Advisors, LP.
Portman Ridge Finance Company’s filings with the Securities and Alternate Fee (the “SEC”), earnings releases, press releases and different monetary, operational and governance info can be found on the Firm’s web site at www.portmanridge.com.
About Garrison Capital Inc.
Garrison Capital Inc. (Nasdaq: GARS) is an externally managed, non-diversified, closed-end administration Funding Firm that has elected to be handled as a enterprise improvement firm below the Funding Firm Act of 1940. GARS is managed by its funding adviser, Garrison Capital Advisers LLC, an affiliate of Garrison Funding Group, and a registered funding adviser below the Funding Advisers Act of 1940 which offers the assets and experience of the funding professionals at Garrison Funding Group.
GARS filings with the Securities and Alternate Fee (“SEC”), earnings releases, press releases and different monetary, operational and governance info can be found on GARS web site at http://www.garrisoncapitalbdc.com.
Cautionary Assertion Relating to Ahead-Wanting Statements
This press launch incorporates forward-looking statements throughout the which means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Alternate Act of 1934, as amended. The issues mentioned on this press launch, in addition to in future oral and written statements by administration of Portman Ridge Finance Company, which can be forward-looking statements are based mostly on present administration expectations that contain substantial dangers and uncertainties which might trigger precise outcomes to vary materially from the outcomes expressed in, or implied by, these forward-looking statements.
Ahead-looking statements relate to future occasions or our future monetary efficiency and embrace, however are usually not restricted to, projected monetary efficiency, anticipated improvement of the enterprise, plans and expectations about future investments and the long run liquidity of the Firm. We typically determine forward-looking statements by terminology corresponding to “could,” “will,” “ought to,” “expects,” “plans,” “anticipates,” “might,” “intends,” “goal,” “tasks,” “outlook”, “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “proceed” or the destructive of those phrases or different related phrases. Ahead-looking statements are based mostly upon present plans, estimates and expectations which can be topic to dangers, uncertainties and assumptions. Ought to a number of of those dangers or uncertainties materialize, or ought to underlying assumptions show to be incorrect, precise outcomes could fluctuate materially from these indicated or anticipated by such forward-looking statements.
Necessary assumptions embrace our capability to originate new investments, and obtain sure margins and ranges of profitability, the provision of further capital, and the power to take care of sure debt to asset ratios. In gentle of those and different uncertainties, the inclusion of a projection or forward-looking assertion on this press launch shouldn’t be considered a illustration that such plans, estimates, expectations or goals can be achieved. Necessary elements that might trigger precise outcomes to vary materially from such plans, estimates or expectations embrace, amongst others, (1) uncertainty of the anticipated monetary efficiency of the Firm; (2) anticipated synergies and financial savings related to the proposed transaction through which Garrison Capital Inc. will merge into and with the Firm; (3) the power of the Firm and/or BC Companions to implement its enterprise technique; (4) evolving authorized, regulatory and tax regimes; (5) adjustments typically financial and/or trade particular circumstances; (6) the affect of elevated competitors; (7) enterprise prospects and the prospects of the Firms portfolio corporations; (8) contractual preparations with third events; (9) any future financings by the Firm; (10) the power of the Advisor to draw and retain extremely gifted professionals; (11) the Firm capability to fund any unfunded commitments; (12) any future distributions by the Firm; (13) adjustments in regional or nationwide financial circumstances, together with however not restricted to the affect of the COVID-19 pandemic, and their affect on the industries through which we make investments; and (14) different adjustments within the circumstances of the industries through which we make investments and different elements enumerated in our filings with the SEC. The forward-looking statements ought to be learn along side the dangers and uncertainties mentioned within the Firms filings with the SEC, together with the Firms most up-to-date Kind 10-Ok and different SEC filings. We don’t undertake to publicly replace or revise any forward-looking statements, whether or not on account of new info, future occasions or in any other case, besides as required to be reported below the foundations and laws of the SEC.
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Portman Ridge Finance Company
650 Madison Avenue, 23rd ground
New York, NY 10022
The Fairness Group Inc.
Garrison Capital Inc.
1270 Avenue of the Americas, seventh Flooring
New York, NY 10020
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