Logan Ridge Finance Corporation (“Logan Ridge”, “LRFC”, the
“Company”, “we”, “us” or “our”) (Nasdaq: LRFC) announced today its
financial results for the fourth quarter and full year ended
December 31, 2024.
Fourth Quarter 2024
Highlights
- Total investment income was $5.4 million for the quarter ended
December 31, 2024, as compared to $5.1 million reported for the
quarter ended September 30, 2024, and $4.4 million for the quarter
ended December 31, 2023.
- Net investment income (“NII”) increased to $1.5 million, or
$0.56 per share, for the quarter ended December 31, 2024, as
compared to $1.0 million or $0.37 per share, for the quarter ended
September 30, 2024, and $0.6 million, or $0.22 per share, for the
quarter ended December 31, 2023.
- Net asset value was $32.04 per share as of December 31, 2024,
as compared to $32.31 per share as of September 30, 2024, and
$33.34 per share as of December 31, 2023.
- The Company made approximately $26.1 million of investments and
had approximately $29.5 million in repayments and sales of
investments, resulting in net repayments and sales of approximately
$3.4 million during the quarter ended December 31, 2024.
- During the quarter ended December 31, 2024, the Company
repurchased 16,598 of its outstanding shares of common stock in
open market transactions under the stock repurchase program, at an
aggregate cost of approximately $0.4 million which resulted in
$0.04 per share of NAV accretion.
Full Year 2024 Milestones
- Total investment income was $20.9 million for
the year ended December 31, 2024, as compared to $20.2 million for
the year ended December 31, 2023.
- Net investment income (“NII”) was $4.2
million, or $1.56 per share, for the year ended December 31, 2024,
as compared to $3.8 million, or $1.43 per share, for the year ended
December 31, 2023.
- Made approximately $38.3 million of
investments and had approximately $55.0 million in
repayments and sales of investments, resulting in net repayments
and sales of approximately $16.7 million.
- Total shares repurchased in open market
transactions under the renewed stock repurchase program during the
year ended December 31, 2024, were 41,162 at an aggregate cost of
approximately $1.0 million. This compares to 36,667 shares
repurchased during the year ended December 31, 2023, at an
aggregate cost of approximately $0.8 million.
- Total stockholder distributions paid in 2024
amount to $1.34 per share, as compared to $0.96 per share during
2023.
Subsequent Events
- On January 29, 2025, the Company entered into an Agreement and
Plan of Merger (the “Merger Agreement”) with Portman Ridge Finance
Corporation, a Delaware corporation (“PTMN”), Portman Ridge Merger
Sub, Inc., a Maryland corporation and a direct wholly-owned
subsidiary of PTMN (“Merger Sub”); solely for the limited purposes
set forth therein, Mount Logan Management LLC (the “Adviser”), and,
solely for the limited purposes set forth therein, Sierra Crest
Investment Management LLC, a Delaware limited liability company and
the external investment adviser to PTMN ("SCIM"). The Merger
Agreement provides that, subject to the conditions set forth
therein, (i) at the effective time of the First Merger (the
“Effective Time”), Merger Sub will merge with and into the Company
(the “First Merger”), with the Company continuing as the surviving
company and as a wholly-owned subsidiary of PTMN, and (ii)
immediately after the Effective Time, the Company will be merged
with and into PTMN (the “Second Merger” and, together with the
First Merger, the “Mergers”), with PTMN continuing as the surviving
company. Both the Board of the Company and PTMN’s board of
directors, including all of their respective independent directors
who are not "interested persons" of either the Company or PTMN or
the Adviser or SCIM, in each case, on the recommendation of special
committees comprised solely of certain independent directors of the
Company or PTMN, as applicable (each, a “Special Committee”), have
approved, among other things, the Merger Agreement and the
transactions contemplated thereby. Consummation of the Mergers is
subject to certain closing conditions, including requisite
approvals of the Company’s and PTMN’s stockholders. Subject to the
terms and conditions of the Merger Agreement, at the Effective
Time, each share of the Company’s common stock issued and
outstanding immediately prior to the Effective Time (other than
shares owned by PTMN or any of its consolidated subsidiaries,
including Merger Sub) will be converted into the right to receive
1.500 newly-issued shares of common stock of PTMN with cash to be
paid (without interest) in lieu of fractional shares.
- On March 12, 2025, the Company’s
Board of Directors approved a first quarter distribution of $0.36
per share, payable on March 31, 2025, to stockholders of record as
of March 24, 2025.
Management CommentaryTed
Goldthorpe, Chief Executive Officer and President of Logan Ridge,
said, “2024 was a profoundly transformative year for Logan Ridge,
as we continued to build upon the record results seen in full year
2023 and made significant strides in the rotation out of the legacy
equity portfolio. This was highlighted by record levels of total
investment income, standing at $20.9 million, net investment income
of $4.2 million, or $1.56 per share, and the sale of our largest
equity position, Nth Degree, above its prior quarter fair value.
This exit was a major achievement in our long-term strategy to
rotate out of the legacy equity portfolio, which has been a central
focus of our strategy. Further, subsequent to quarter end, LRFC
exited its second largest non-yielding equity investment in GA
Communications, Inc. Finally, during the year, we also strengthened
the Company’s balance sheet by amending and extending our revolving
credit facility with KeyBank National Association, reducing the
Company’s overall cost of capital while creating meaningful
additional borrowing capacity to provide it with further financial
flexibility.
The culmination of these successes has paved the
way for the combination with Portman Ridge Finance Corporation,
which we announced in January. We believe this combination has the
potential to provide greater scale, enhanced liquidity, and
improved operational efficiencies, thus enhancing our ability to
further drive shareholder value. The combination of these companies
is a marquee transaction for the platform and a significant
milestone for the BC Partners Credit Platform. I couldn’t be more
excited for the future of the combined company.
As a result of the Company’s record financial
performance during the year, the Board of Directors has approved a
dividend of $0.36 per share for the first quarter of 2025, which
remains the same from the fourth quarter of 2024 and represents a
13% increase compared to the $0.32 per share distributed in the
first quarter of 2024.
We are proud of our achievements and will
continue to execute on our business plan to provide meaningful
returns to our stakeholders.”
Selected Financial Highlights for Full Year
2024
- Total investment
income for the year ended December 31, 2024, increased by
$0.7 million, to $20.9 million, compared to $20.2 million for the
year ended December 31, 2023.
- Total operating
expenses for the year ended December 31, 2024, increased
by $0.4 million, to $16.7 million, compared to $16.3 million for
the year ended December 31, 2023.
- Net investment income for the year ended
December 31, 2024, was $4.2 million, or $1.56 per share, an
increase of $0.4 million, or $0.13 per share, as compared to $3.8
million, or $1.43 per share, for the year ended December 31,
2023.
- Net asset value as of December 31, 2024, was
$85.1 million, or $32.04 per share, compared to $86.3 million, or
$32.31 per share, as of September 30, 2024, and $89.2 million, or
$33.34 per share, as of December 31, 2023.
- Cash and cash equivalents as of December 31,
2024, were $15.0 million compared to $3.9 million as of December
31, 2023.
- The investment portfolio as of December 31,
2024, consisted of investments in 59 portfolio companies with an
aggregate fair value of approximately $172.3 million. This compares
to 60 portfolio companies with an aggregate fair value of
approximately $189.7 million as of December 31, 2023.
- Deployment was judicious and prudent. During
the year ended December 31, 2024, the Company made approximately
$38.3 million in investments and had $55.0 million in repayments
and sales of investments, resulting in net repayments and sales of
approximately $16.7 million.
- The debt investment portfolio as of December
31, 2024, represented 83.3% of the fair value of the total
portfolio, with a weighted average annualized yield of
approximately 10.7% (excluding income from non-accruals and
collateralized loan obligations), compared to a debt investment
portfolio of approximately 82.0% with a weighted average annualized
yield of approximately 11.1% (excluding income from non-accruals
and collateralized loan obligations) as of December 31, 2023. As of
December 31, 2024, 12.1% of the fair value of the debt investment
portfolio was bearing a fixed rate of interest, compared to 13.6%
of the fair value of the debt investment portfolio as of December
31, 2023.
- Non-accruals: As of December 31, 2024, the
Company had debt investments in three portfolio companies on
non-accrual status with an amortized cost and fair value of $17.2
million and $7.9 million, respectively, representing 9.0% and 4.6%
of the investment portfolio’s amortized cost and fair value,
respectively. This compares to debt investments in three portfolio
companies on non-accrual status with an aggregate amortized cost
and fair value of $17.2 million and $12.8 million, respectively,
representing 8.7% and 6.8% of the investment portfolio’s amortized
cost and fair value, respectively, at December 31, 2023.
- Asset coverage ratio as of December 31, 2024,
was 179%.
Results of OperationsOur
operating results for the years ended December 31, 2024, and
December 31, 2023, were as follows (dollars in thousands):
|
For the Years Ended December 31, |
|
|
2024 |
|
|
2023 |
|
Total investment income |
$ |
20,916 |
|
|
$ |
20,177 |
|
Total
expenses |
|
16,736 |
|
|
|
16,330 |
|
Net
investment income |
|
4,180 |
|
|
|
3,847 |
|
Net
realized gain (loss) on investments |
|
8,545 |
|
|
|
(16,393 |
) |
Net
change in unrealized appreciation (depreciation) on
investments |
|
(12,282 |
) |
|
|
10,064 |
|
Net
realized gain (loss) on extinguishment of debt |
|
(472 |
) |
|
|
— |
|
Net
increase (decrease) in net assets resulting from operations |
$ |
(29 |
) |
|
$ |
(2,482 |
) |
|
|
|
|
|
|
|
|
Investment income The
composition of our investment income for the years ended December
31, 2024, and December 31, 2023, was as follows (dollars in
thousands):
|
For the Years Ended December 31, |
|
|
2024 |
|
|
2023 |
|
Interest income |
$ |
18,257 |
|
|
$ |
18,366 |
|
Payment-in-kind interest |
|
1,877 |
|
|
|
1,484 |
|
Dividend
income |
|
198 |
|
|
|
68 |
|
Other
income |
|
584 |
|
|
|
259 |
|
Total
investment income |
$ |
20,916 |
|
|
$ |
20,177 |
|
|
|
|
|
|
|
|
|
Fair Value of InvestmentsThe composition of our
investments as of December 31, 2024, and December 31, 2023, at
amortized cost and fair value of investments was as follows
(dollars in thousands):
December 31,
2024 |
Investments atAmortized Cost |
|
|
Amortized CostPercentage
ofTotal Portfolio |
|
|
Investments atFair Value |
|
|
Fair ValuePercentage
ofTotal Portfolio |
|
First Lien Debt |
$ |
123,068 |
|
|
|
64.4 |
% |
|
$ |
111,460 |
|
|
|
64.7 |
% |
Second
Lien Debt |
|
10,623 |
|
|
|
5.5 |
% |
|
|
9,051 |
|
|
|
5.3 |
% |
Subordinated Debt |
|
26,996 |
|
|
|
14.1 |
% |
|
|
22,858 |
|
|
|
13.3 |
% |
Collateralized Loan Obligations |
|
852 |
|
|
|
0.4 |
% |
|
|
940 |
|
|
|
0.5 |
% |
Joint
Venture |
|
4,170 |
|
|
|
2.2 |
% |
|
|
4,153 |
|
|
|
2.4 |
% |
Equity |
|
25,723 |
|
|
|
13.4 |
% |
|
|
23,828 |
|
|
|
13.8 |
% |
Total |
$ |
191,432 |
|
|
|
100.0 |
% |
|
$ |
172,290 |
|
|
|
100.0 |
% |
December 31,
2023 |
Investments atAmortized Cost |
|
|
Amortized CostPercentage
ofTotal Portfolio |
|
|
Investments atFair Value |
|
|
Fair ValuePercentage
ofTotal Portfolio |
|
First Lien Debt |
$ |
128,537 |
|
|
|
65.4 |
% |
|
$ |
124,007 |
|
|
|
65.4 |
% |
Second
Lien Debt |
|
8,968 |
|
|
|
4.6 |
% |
|
|
7,918 |
|
|
|
4.2 |
% |
Subordinated Debt |
|
26,573 |
|
|
|
13.5 |
% |
|
|
23,548 |
|
|
|
12.4 |
% |
Collateralized Loan Obligations |
|
1,600 |
|
|
|
0.8 |
% |
|
|
1,600 |
|
|
|
0.8 |
% |
Joint
Venture |
|
440 |
|
|
|
0.2 |
% |
|
|
450 |
|
|
|
0.2 |
% |
Equity |
|
30,400 |
|
|
|
15.5 |
% |
|
|
32,135 |
|
|
|
17.0 |
% |
Total |
$ |
196,518 |
|
|
|
100.0 |
% |
|
$ |
189,658 |
|
|
|
100.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest Rate Risk Based on our
consolidated statements of assets and liabilities as of December
31, 2024, the following table shows the annual impact on net income
(excluding the potential related incentive fee impact) of base rate
changes in interest rates (considering interest rate floors for
variable rate securities), assuming no changes in our investment
and borrowing structure (dollars in thousands):
Basis Point Change |
Increase(decrease) ininterest
income |
|
|
(Increase)decrease
ininterest expense |
|
|
Increase(decrease) in net
income |
|
Up 300 basis points |
$ |
4,095 |
|
|
$ |
(1,487 |
) |
|
$ |
2,608 |
|
Up 200
basis points |
|
2,730 |
|
|
|
(991 |
) |
|
|
1,739 |
|
Up 100
basis points |
|
1,365 |
|
|
|
(496 |
) |
|
|
869 |
|
Down 100
basis points |
|
(1,365 |
) |
|
|
496 |
|
|
|
(869 |
) |
Down 200
basis points |
|
(2,675 |
) |
|
|
991 |
|
|
|
(1,684 |
) |
Down 300
basis points |
|
(3,879 |
) |
|
|
1,487 |
|
|
|
(2,392 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Conference Call and Webcast We
will hold a conference call on Friday, March 14, 2025, at 11:30
a.m. Eastern Time to discuss the fourth quarter and full year 2024
financial results. Stockholders, prospective stockholders, and
analysts are welcome to listen to the call or attend the
webcast.
To access the conference call, please dial (646)
968-2525 approximately 10 minutes prior to the start of the call
and use the conference ID 1779602.
A replay of this conference call will be
available shortly after the live call through March 21, 2025.
A live audio webcast of the conference call can
be accessed via the Internet, on a listen-only basis on the
Company’s website www.loganridgefinance.com in the Investor
Resources section under Events and Presentations. The webcast can
also be accessed by clicking the following link:
https://edge.media-server.com/mmc/p/h9fj5e3y. The online archive of
the webcast will be available on the Company’s website shortly
after the call.
About Logan Ridge Finance
CorporationLogan Ridge Finance Corporation (Nasdaq: LRFC)
is a business development company that invests primarily in first
lien loans and, to a lesser extent, second lien loans and equity
securities issued by lower middle-market companies. The Company
invests in performing, well-established middle-market businesses
that operate across a wide range of industries. It employs
fundamental credit analysis, targeting investments in businesses
with relatively low levels of cyclicality and operating risk. For
more information, visit www.loganridgefinance.com.
About Mount Logan Capital Inc.
Mount Logan Capital Inc. (“MLC”) is an alternative asset management
company that is focused on public and private debt securities in
the North American market. MLC seeks to source and actively manage
loans and other debt-like securities with credit-oriented
characteristics. MLC actively sources, evaluates, underwrites,
manages, monitors, and primarily invests in loans, debt securities,
and other credit-oriented instruments that present attractive
risk-adjusted returns and present low risk of principal impairment
through the credit cycle.
About BC Partners Advisors L.P. and BC
Partners CreditBC Partners is a leading international
investment firm in private equity, private credit and real estate
strategies. Established in 1986, BC Partners has played an active
role in developing the European buyout market for three decades.
Today, BC Partners executives operate across markets as an
integrated team through the firm's offices in North America and
Europe. For more information, please visit www.bcpartners.com.
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 sectors,
leveraging the deal sourcing and infrastructure made available from
BC Partners.
Cautionary Statement Regarding
Forward-Looking Statements This communication contains
“forward-looking” statements. Forward-looking statements concern
future circumstances and results and other statements that are not
historical facts, including with respect to the proposed merger
with PTMN, and are sometimes identified by the words “may,” “will,”
“should,” “potential,” “intend,” “expect,” “endeavor,” “seek,”
“anticipate,” “estimate,” “overestimate,” “underestimate,”
“believe,” “could,” “project,” “predict,” “continue,” “target” or
other similar words or expressions. Forward-looking statements are
based upon current plans, estimates and expectations that are
subject to risks, uncertainties, and assumptions. Should one or
more of these risks or uncertainties materialize, or should
underlying assumptions prove to be incorrect, actual results may
vary materially from those indicated or anticipated by such
forward-looking statements. The inclusion of such statements should
not be regarded as a representation that such plans, estimates or
expectations will be achieved. Important factors that could cause
actual results to differ materially from such plans, estimates or
expectations include those risk factors detailed in the Company’s
reports filed with the Securities and Exchange Commission (“SEC”),
including the Company’s annual report on Form 10-K, quarterly
reports on Form 10-Q, current reports on Form 8-K and other
documents filed with the SEC.
Any forward-looking statements speak only as of
the date of this communication. The Company does not undertake any
obligation to update any forward-looking statements, whether as a
result of new information or 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.
Contacts:Logan Ridge Finance
Corporation650 Madison Avenue, 3rd FloorNew York, NY
10022
Brandon SatorenChief Financial Officer
Brandon.Satoren@bcpartners.com (212) 891-2880
Lena Cati The Equity Group
Inc.lcati@equityny.com (212) 836-9611
Val FerraroThe Equity Group
Inc.vferraro@equityny.com (212) 836-9633
Logan Ridge Finance
CorporationConsolidated Statements of Assets and
Liabilities (in thousands, except share and per
share data) |
|
|
As of December 31,2024 |
|
|
As of December 31,2023 |
|
ASSETS |
|
|
|
|
|
Investments at fair
value: |
|
|
|
|
|
Non-control/non-affiliate investments (amortized cost of $152,393
and $170,972, respectively) |
$ |
138,079 |
|
|
$ |
161,880 |
|
Affiliate investments (amortized cost of $39,039 and $25,546,
respectively) |
|
34,211 |
|
|
|
27,778 |
|
Total investments at fair value (amortized cost of $191,432 and
$196,518, respectively) |
|
172,290 |
|
|
|
189,658 |
|
Cash and cash equivalents |
|
15,015 |
|
|
|
3,893 |
|
Interest and dividend
receivable |
|
1,404 |
|
|
|
1,374 |
|
Prepaid expenses |
|
2,543 |
|
|
|
2,163 |
|
Receivable for unsettled
trades |
|
1,082 |
|
|
|
— |
|
Other assets |
|
335 |
|
|
|
— |
|
Total assets |
$ |
192,669 |
|
|
$ |
197,088 |
|
LIABILITIES |
|
|
|
|
|
2026 Notes (net of deferred
financing costs and original issue discount of $694 and $1,057,
respectively) |
$ |
49,306 |
|
|
$ |
48,943 |
|
2032 Convertible Notes (net of
deferred financing costs and original issue discount of $439 and
$999, respectively) |
|
7,061 |
|
|
|
14,001 |
|
KeyBank Credit Facility (net
of deferred financing costs of $1,147 and $982, respectively) |
|
47,607 |
|
|
|
38,571 |
|
Management and incentive fees
payable |
|
834 |
|
|
|
869 |
|
Interest and financing fees
payable |
|
942 |
|
|
|
949 |
|
Accounts payable and accrued
expenses |
|
1,820 |
|
|
|
833 |
|
Payable for unsettled
trades |
|
— |
|
|
|
3,747 |
|
Total liabilities |
$ |
107,570 |
|
|
$ |
107,913 |
|
Commitments and
contingencies |
|
|
|
|
|
NET ASSETS |
|
|
|
|
|
Common stock, par value $0.01,
100,000,000 shares of common stock authorized, 2,655,898 and
2,674,698 shares of common stock issued and outstanding,
respectively |
$ |
27 |
|
|
$ |
27 |
|
Capital in excess of par
value |
|
188,858 |
|
|
|
188,405 |
|
Total distributable loss |
|
(103,786 |
) |
|
|
(99,257 |
) |
Total net assets |
$ |
85,099 |
|
|
$ |
89,175 |
|
Total liabilities and net
assets |
$ |
192,669 |
|
|
$ |
197,088 |
|
Net asset value per share |
$ |
32.04 |
|
|
$ |
33.34 |
|
|
|
|
|
|
|
|
|
Logan Ridge Finance
CorporationConsolidated Statements of
Operations (in thousands, except share and per
share data) |
|
|
For the Years Ended December 31, |
|
|
2024 |
|
|
2023 |
|
|
2022 |
|
INVESTMENT INCOME |
|
|
|
|
|
|
|
|
Interest income: |
|
|
|
|
|
|
|
|
Non-control/non-affiliate investments |
$ |
17,186 |
|
|
$ |
18,536 |
|
|
$ |
12,732 |
|
Affiliate investments |
|
1,071 |
|
|
|
(170 |
) |
|
|
706 |
|
Control investments |
|
— |
|
|
|
— |
|
|
|
228 |
|
Total interest income |
|
18,257 |
|
|
|
18,366 |
|
|
|
13,666 |
|
Payment-in-kind interest and
dividend income: |
|
|
|
|
|
|
|
|
Non-control/non-affiliate investments |
|
1,404 |
|
|
|
1,322 |
|
(1) |
|
919 |
|
Affiliate investments |
|
473 |
|
|
|
162 |
|
|
|
187 |
|
Total payment-in-kind interest and dividend income |
|
1,877 |
|
|
|
1,484 |
|
|
|
1,106 |
|
Dividend income: |
|
|
|
|
|
|
|
|
Affiliate investments |
|
198 |
|
|
|
68 |
|
|
|
14 |
|
Total dividend income |
|
198 |
|
|
|
68 |
|
|
|
14 |
|
Other income: |
|
|
|
|
|
|
|
|
Non-control/non-affiliate investments |
|
276 |
|
|
|
258 |
|
|
|
141 |
|
Affiliate investments |
|
308 |
|
|
|
1 |
|
|
|
— |
|
Total other income |
|
584 |
|
|
|
259 |
|
|
|
141 |
|
Total investment income |
|
20,916 |
|
|
|
20,177 |
|
|
|
14,927 |
|
EXPENSES |
|
|
|
|
|
|
|
|
Interest and financing
expenses |
|
8,425 |
|
|
|
8,329 |
|
|
|
7,815 |
|
Base management fee |
|
3,496 |
|
|
|
3,658 |
|
|
|
3,861 |
|
Directors' expense |
|
576 |
|
|
|
540 |
|
|
|
493 |
|
Administrative service
fees |
|
933 |
|
|
|
895 |
|
|
|
620 |
|
General and administrative
expenses |
|
3,306 |
|
|
|
2,908 |
|
|
|
3,300 |
|
Total expenses |
|
16,736 |
|
|
|
16,330 |
|
|
|
16,089 |
|
NET INVESTMENT INCOME |
|
4,180 |
|
|
|
3,847 |
|
|
|
(1,162 |
) |
REALIZED AND UNREALIZED GAIN
(LOSS) ON INVESTMENTS |
|
|
|
|
|
|
|
|
Net realized gain (loss) on
investments: |
|
|
|
|
|
|
|
|
Non-control/non-affiliate investments |
|
(2,281 |
) |
|
|
(16,393 |
) |
|
|
17,312 |
|
Affiliate investments |
|
10,826 |
|
|
|
— |
|
|
|
1,672 |
|
Control investments |
|
— |
|
|
|
— |
|
|
|
(5,215 |
) |
Net realized gain (loss) on investments |
|
8,545 |
|
|
|
(16,393 |
) |
|
|
13,769 |
|
Net change in unrealized
appreciation (depreciation) on investments: |
|
|
|
|
|
|
|
|
Non-control/non-affiliate investments |
|
(6,986 |
) |
|
|
5,075 |
|
|
|
(25,434 |
) |
Affiliate investments |
|
(5,296 |
) |
|
|
4,989 |
|
|
|
(1,208 |
) |
Control investments |
|
— |
|
|
|
— |
|
|
|
2,011 |
|
Net change in unrealized appreciation (depreciation) on
investments |
|
(12,282 |
) |
|
|
10,064 |
|
|
|
(24,631 |
) |
Total net realized and change in unrealized loss on
investments |
|
(3,737 |
) |
|
|
(6,329 |
) |
|
|
(10,862 |
) |
Net realized loss on
extinguishment of debt |
|
(472 |
) |
|
|
— |
|
|
|
— |
|
NET DECREASE IN NET ASSETS
RESULTING FROM OPERATIONS |
$ |
(29 |
) |
|
$ |
(2,482 |
) |
|
$ |
(12,024 |
) |
NET INCREASE (DECREASE) IN NET
ASSETS PER SHARE RESULTING FROM OPERATIONS – BASIC &
DILUTED (SEE NOTE 10) |
$ |
(0.01 |
) |
|
$ |
(0.92 |
) |
|
$ |
(4.44 |
) |
WEIGHTED AVERAGE COMMON STOCK
OUTSTANDING – BASIC & DILUTED (SEE NOTE 10) |
|
2,673,381 |
|
|
|
2,694,857 |
|
|
|
2,711,068 |
|
DISTRIBUTIONS PAID PER
SHARE |
$ |
1.34 |
|
|
$ |
0.96 |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
_______________(1) During
the year ended December 31, 2023, the Company received $0.2 million
of non-recurring income that was paid-in-kind and included in this
financial statement line item.
Logan Ridge Finance (NASDAQ:LRFC)
과거 데이터 주식 차트
부터 2월(2) 2025 으로 3월(3) 2025
Logan Ridge Finance (NASDAQ:LRFC)
과거 데이터 주식 차트
부터 3월(3) 2024 으로 3월(3) 2025