NEW YORK–(BUSINESS WIRE)–Portman Ridge Finance Company (Nasdaq: PTMN) (the “Firm”) at present 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 occasionally as market circumstances warrant. All repurchases might be carried out in accordance with the relevant necessities of Guidelines 10b5-1 and 10b-18 underneath the U.S. Securities Alternate 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 word, on March 8, 2022, the Firm’s Board of Administrators re-authorized its share repurchase program, whereby the Firm could repurchase as much as an combination 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 growth firm underneath the Funding Firm Act of 1940. Portman Ridge’s center market funding enterprise originates, buildings, funds and manages a portfolio of time period loans, mezzanine investments and chosen fairness securities in center market corporations. 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 Alternate 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 Concerning Ahead-Wanting Statements
This press launch comprises forward-looking statements relating to repurchases of shares of the Firm’s widespread inventory. There is no such thing as a assurance that repurchases might be made in any particular quantities or that the market worth 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 needs to be learn at the side of 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.