NEW YORK–(BUSINESS WIRE)–Portman Ridge Finance Company (Nasdaq: PTMN) (the “Firm”) at the moment introduced that it has entered into a brand new Rule 10b5-1 inventory buying and selling plan to facilitate the repurchase of its widespread inventory in accordance with its $10 million share repurchase program.
Repurchases could also be made within the open market at prevailing market costs once in a while as market circumstances warrant. All repurchases might be applied in accordance with the relevant necessities of Guidelines 10b5-1 and 10b-18 beneath the U.S. Securities Trade Act of 1934.
An impartial U.S. broker-dealer is appearing because the Firm’s agent to buy its shares on pre-arranged phrases pursuant to the Rule 10b5-1 Inventory Buying and selling Plan.
Of notice, on March 8, 2022, the Firm’s Board of Administrators re-authorized its share repurchase program, whereby the Firm might repurchase as much as an mixture of $10 million of its shares within the open market till March 31, 2023, together with pursuant to the above-described new Rule 10b5-1 inventory buying and selling plan.
About Portman Ridge Finance Company
Portman Ridge Finance Company (Nasdaq: PTMN) is a publicly traded, externally managed funding firm that has elected to be regulated as a enterprise improvement firm beneath the Funding Firm Act of 1940. Portman Ridge’s center market funding enterprise originates, constructions, funds and manages a portfolio of time period loans, mezzanine investments and chosen fairness securities in center market firms. Portman Ridge’s funding actions are managed by its funding adviser, Sierra Crest Funding Administration LLC, an affiliate of BC Companions Advisors, LP.
Portman Ridge’s filings with the Securities and Trade Fee (the “SEC”), earnings releases, press releases and different monetary, operational and governance info can be found on the Firm’s web site at www.portmanridge.com.
Cautionary Assertion Relating to Ahead-Trying Statements
This press launch accommodates forward-looking statements relating to repurchases of shares of the Firm’s widespread inventory. There isn’t a assurance that repurchases might be made in any particular quantities or that the market value of the Firm’s shares, both completely or relative to web asset worth, will enhance on account of any share repurchases, or that any repurchases will improve stockholder worth over the long run. The forward-looking statements ought to be learn together with the dangers and uncertainties mentioned within the Firm’s filings with the SEC, together with the Firm’s most up-to-date Type 10-Ok and different SEC filings.