Highest-materiality recent filing
BCP Investment ups KeyBank facility to $150M, cuts margin, extends maturity to 2031
Facility amount raised from $75M to $150M; margin cut to 2.50% (reinvestment) and 3.00% (amortization).
BCIC Q2 NII $0.45/share, NAV down to $14.49; KeyBank facility upsized to $150M
Q2 total investment income $15.2M, down from $17.6M Q1; NII $5.5M ($0.45/sh) vs $6.9M ($0.55) Q1.
BCP Investment Corp annual meeting elects directors, ratifies auditor
Stockholders elected Jennifer Kwon Chou, Joseph Morea, and Robert Warshauer to the Board until 2029.
BCIC Q1 NAV $15.60, core income $14.8M; Q2 total distribution $0.30
Total investment income $17.6M; core investment income $14.8M (up from $14.2M Q4 2025).
BCP Investment Corp issues $50M of 7.50% notes due 2029 to refinance debt
Issued $50M aggregate principal of 7.50% notes due September 24, 2029.
BCP Investment amends credit facility; JPMorgan commitments decreased to $125M
Aggregate financing commitments under JPMorgan Revolving Credit Facility reduced to $125M.
FY2025 total investment income $61.2M, NII $25.1M ($2.28 per share) vs $24.0M ($2.59 per share) in FY2024.
BCIC Q3 NII up 94% to $0.71/share; launches $9M tender offer, declares $0.47 dividend
Total investment income up 50% YoY to $18.9M; NII rose 94% to $8.8M ($0.71 diluted EPS).
BCP Investment Corp director Matthew Westwood resigns; board shrinks to 8
Matthew Westwood resigned from the Board on October 14, 2025, as part of rationalizing board size and reducing expenses.
Issued $35M 7.50% notes due 2028 and $75M 7.75% notes due 2030, aggregate $110M.
Portman Ridge Finance to rename to BCP Investment Corporation; ticker changes to BCIC
Company filed certificate of amendment to change name from Portman Ridge Finance Corp to BCP Investment Corp effective Aug 22, 2025.
Portman Ridge Q2 NII $0.50/sh; completes Logan Ridge merger, rebrands to BCP Investment Corp
Q2 NII $4.6M ($0.50/sh), up from Q1 $0.47 but down from $0.70 YoY; total investment income $12.6M.
Merger closed July 15, 2025; LRFC shareholders received 1.5 PTMN shares each (approx. 4M shares issued).
Portman Ridge shareholders approve merger with Logan Ridge; closing expected July 15
PTMN shareholders voted 4.16M for vs 541K against (88% approval) on merger share issuance.
Portman Ridge holds annual meeting; elects three directors, ratifies Deloitte as auditor
Stockholders elected George Grunebaum, Dean C. Kehler, Matthew Westwood as directors; each received >1.7M votes for, with 2.99M broker non-votes.
ISS and Glass Lewis recommend PTMN and LRFC stockholders vote FOR merger
ISS and Glass Lewis both recommend voting FOR the merger of LRFC with and into PTMN.
Portman Ridge Q1 NII $0.47/sh, NAV $18.85; quarterly dividend held at $0.47
Net investment income of $4.3M ($0.47/sh) vs $6.2M ($0.67/sh) YoY; total investment income $12.1M, down from $16.5M.
Portman Ridge Q4 NII $0.60; NAV $19.41; Merges with Logan Ridge (1.5:1)
Q4 NII $5.5M ($0.60/sh) vs $11.2M ($1.19) YoY; full-year NII $24.0M ($2.59) vs $34.8M ($3.66).
Portman Ridge to acquire Logan Ridge in stock-for-stock merger valued at 1.5x shares
Each LRFC share converts to 1.500 newly issued PTMN shares; no cash component except fractional shares.
Portman Ridge Q3 NII $0.63/share, NAV $20.36; declares $0.69 dividend
NII of $0.63 per share vs $0.75 in Q3 2023; total investment income $15.2M, down from $18.6M YoY.
Portman Ridge Q2 NII $0.70/share; NAV falls to $21.21; credit facility upsized to $200M
Net investment income $6.5M ($0.70/share) vs $0.67 in Q1 and $0.83 in Q2 2023.
Portman Ridge upsizes credit facility to $200M, reduces margin to 2.50%
Credit facility upsized to $200M (from $115M); margin reduced to 2.50% (from 2.80%).
Portman Ridge Finance announces annual meeting voting results
Stockholders elected Ted Goldthorpe, Patrick Schafer, Alexander Duka to board until 2027 annual meeting.
Portman Ridge Q1 NII falls 43% QoQ to $0.67/sh; NAV $22.57; dividend $0.69
NII of $6.2M ($0.67/sh) down from $11.2M ($1.18) Q4 2023 and $8.5M ($0.89) Q1 2023.
Portman Ridge Q4/FY 2023 NII $3.66/share; dividend raised to $0.69; new $10M buyback; CFO transition
Full-year 2023 total investment income $76.3M (+9.6% YoY); NII $34.8M ($3.66/share) vs $28.9M ($3.00/share) in 2022.
Portman Ridge Q3 NII falls to $0.75/shr but NAV rises to $22.65; dividend increased
Q3 2023 total investment income $18.6M, down from $19.0M YoY and $19.6M QoQ.
Portman Ridge Q2 NII $0.83/share; dividend raised to $0.69, up $0.06 YoY
Total investment income $19.6M, up $4.6M YoY; NII $7.9M ($0.83/share) vs $5.5M ($0.57) YoY.
Portman Ridge director Tricia Hazelwood resigns due to new employer restrictions
Tricia Hazelwood resigned from Portman Ridge Board and Audit Committee effective July 27, 2023.
Portman Ridge annual meeting elects directors, ratifies Deloitte as auditor
Elected Jennifer Kwon Chou, Joseph Morea, and Robert Warshauer to three-year board terms expiring 2026.
Portman Ridge Q1 NII $0.89/shr, up from $0.74; dividend raised to $0.69
NII of $8.5M ($0.89/shr) vs $7.1M ($0.74) in Q4 2022 and $7.9M ($0.82) a year ago.
Portman Ridge Q4 core investment income $17.7M; raises quarterly distribution to $0.68
Total Q4 investment income $18.6M vs $17.3M YoY; NII $7.1M ($0.74 per share).
Portman Ridge Q3 NII $0.87/shr, up from $0.57; raises quarterly distribution to $0.67
Total investment income $19.0M (Q2: $15.0M); core investment income $17.6M (Q2: $13.7M).
Portman Ridge Q2 NII $0.57/shr; NAV falls to $27.26; non-accruals halved
Net investment income $5.5M ($0.57/shr) vs $11.7M ($1.51) in Q2 2021; net loss per share $0.88.
Portman Ridge stockholders elect three directors, ratify Deloitte as auditor
Elected George Grunebaum, Dean C. Kehler, and Matthew Westwood to board until 2025.
Portman Ridge Q1 NII $0.82/shr; NAV flat at $28.76; refinances JPM credit facility
NII of $7.9M ($0.82/shr) vs $8.2M ($1.09/shr) in Q1 2021; total investment income $16.9M.
Portman Ridge amends revolver: SOFR replaces LIBOR, margin down to 2.80%, maturity to 2026
Amended senior secured revolving credit facility with JPMorgan; replaced LIBOR benchmark with Term SOFR.
Portman Ridge acquires $18.1M in portfolio assets from JMP units for cash and stock
Portman Ridge buys $18.1 million of portfolio assets from JMP Group LLC subsidiaries.
Portman Ridge completes 1-for-10 reverse stock split; authorized shares reduced to 20M
Reverse split effective Aug 26, 2021; 10 shares combined into 1, no par value change.
Portman Ridge to implement 1-for-10 reverse stock split on August 26, 2021
Reverse stock split effective August 26, 2021; trading begins on split-adjusted basis at market open.
Portman Ridge Finance amends bylaws to clarify uncertificated share procedures
Board adopted Third Amended and Restated Bylaws effective July 20, 2021.
Graeme Dell resigns from Portman Ridge Board of Directors
Graeme Dell resigned as a director effective June 30, 2021.
On July 27, 2023, Tricia Hazelwood resigned as a member of the Board of Directors (the “Board”) of Portman Ridge Finance Corporation (the “Company”).
On June 30, 2021, Graeme Dell resigned as a member of the Board of Directors (the “Board”) of Portman Ridge Finance Corporation (the “Company”).
Max materiality 0.85 · Median 0.65 · Most common event earnings