Portman Ridge to acquire Logan Ridge in stock-for-stock merger valued at 1.5x shares

BCP Investment Corp

Each LRFC share converts to 1.500 newly issued PTMN shares; no cash component except fractional shares.
LRFC to pay pre-closing dividend of at least $1.0M (estimated <$1.5M) to maintain RIC status.
PTMN adviser SCIM waives up to $1.5M in incentive fees over eight quarters post-closing.
Closing expected Q2 2025; requires stockholder and regulatory approvals, plus NASDAQ listing.
Both special committees and full boards of PTMN and LRFC unanimously approved the merger.

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