NEW YORK, March 21, 2022 (Globe NEWSWIRE) — Portman Ridge Finance Company (Nasdaq: PTMN) (the “Company”) nowadays announced that it has entered into a new Rule 10b5-1 inventory buying and selling strategy to aid the repurchase of its frequent inventory in accordance with its lately re-authorized $10 million share repurchase application.
Repurchases may perhaps be designed in the open up industry at prevailing market place rates from time to time as market ailments warrant. All repurchases will be applied in accordance with the relevant needs of Procedures 10b5-1 and 10b-18 less than the U.S. Securities Trade Act of 1934.
An impartial U.S. broker-dealer is acting as the Company’s agent to order its shares on pre-arranged terms pursuant to the Rule 10b5-1 Stock Buying and selling Plan.
Of be aware, on March 8, 2022, the Company’s Board of Administrators re-licensed its share repurchase system, whereby the Organization may possibly repurchase up to an combination of $10 million of its shares in the open up current market until March 31, 2023, which includes pursuant to the above-described new Rule 10b5-1 stock buying and selling prepare.
About Portman Ridge Finance Company
Portman Ridge Finance Corporation (Nasdaq: PTMN) is a publicly traded, externally managed investment decision corporation that has elected to be regulated as a small business growth business underneath the Financial investment Business Act of 1940. Portman Ridge’s center marketplace expenditure enterprise originates, structures, funds and manages a portfolio of term financial loans, mezzanine investments and picked fairness securities in center market companies. Portman Ridge’s investment decision actions are managed by its financial investment adviser, Sierra Crest Investment decision Management LLC, an affiliate of BC Associates Advisors, LP.
Portman Ridge’s filings with the Securities and Trade Fee (the “SEC”), earnings releases, push releases and other money, operational and governance facts are readily available on the Company’s web-site at www.portmanridge.com.
Cautionary Statement About Forward-Searching Statements
This press release incorporates forward-on the lookout statements relating to repurchases of shares of the Company’s typical inventory. There is no assurance that repurchases will be built in any certain quantities or that the sector price tag of the Company’s shares, both definitely or relative to web asset benefit, will improve as a outcome of any share repurchases, or that any repurchases will greatly enhance stockholder worth over the extensive term. The ahead-hunting statements must be read in conjunction with the threats and uncertainties talked over in the Company’s filings with the SEC, such as the Company’s most modern Sort 10-K and other SEC filings.
Portman Ridge Finance Company
650 Madison Avenue, 23rd ground
New York, NY 10022
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