Portman Ridge Finance reports shareholder approval for Logan Ridge Finance deal

Portman Ridge Finance (PTMN) announced that it obtained shareholder approval for the issuance of common stock in connection with the proposed merger of Logan Ridge Finance (LRFC) with and into PTMN following the adjourned special meeting of shareholders held on June 27. Portman Ridge shareholders voted in favor of the proposed transaction, with approximately 88% of voting shareholders supporting the proposal. Of note, on June 20, Logan Ridge Finance stockholders approved the merger. Thus, subject to the satisfaction of customary closing conditions, the merger is expected to close on or about July 15.