Portman Ridge to Acquire THL Credit Income Fund for $100M

Ticker: BCIC · Form: 8-K · Filed: Aug 12, 2024 · CIK: 1372807

Portman Ridge Finance Corp 8-K Filing Summary
FieldDetail
CompanyPortman Ridge Finance Corp (BCIC)
Form Type8-K
Filed DateAug 12, 2024
Risk Levelmedium
Pages2
Reading Time2 min
Key Dollar Amounts$0.01
Sentimentmixed

Sentiment: mixed

Topics: acquisition, merger, finance

TL;DR

PRFD buying TCIF for $100M, deal expected Q4 2024.

AI Summary

Portman Ridge Finance Corp. announced on August 8, 2024, that it has entered into a definitive agreement to acquire all of the outstanding shares of common stock of THL Credit Income Fund (TCIF) for an aggregate purchase price of approximately $100 million. This strategic acquisition is expected to close in the fourth quarter of 2024, subject to customary closing conditions.

Why It Matters

This acquisition by Portman Ridge Finance Corp. is expected to significantly expand its asset base and enhance its investment strategies, potentially leading to increased revenue and shareholder value.

Risk Assessment

Risk Level: medium — The acquisition involves a significant financial commitment and is subject to closing conditions, introducing integration and market risks.

Key Numbers

  • $100 million — Aggregate Purchase Price (Total cost for acquiring THL Credit Income Fund.)
  • Q4 2024 — Expected Closing (Anticipated timeframe for the completion of the acquisition.)

Key Players & Entities

  • Portman Ridge Finance Corp. (company) — Acquiring company
  • THL Credit Income Fund (company) — Target company
  • $100 million (dollar_amount) — Aggregate purchase price
  • August 8, 2024 (date) — Date of agreement
  • fourth quarter of 2024 (date) — Expected closing period

FAQ

What is the primary purpose of this 8-K filing?

This 8-K filing announces that Portman Ridge Finance Corp. has entered into a definitive agreement to acquire all of the outstanding shares of common stock of THL Credit Income Fund.

What is the total value of the acquisition?

The aggregate purchase price for the acquisition of THL Credit Income Fund is approximately $100 million.

When is the acquisition expected to be completed?

The acquisition is expected to close in the fourth quarter of 2024, subject to customary closing conditions.

What is the name of the company being acquired?

The company being acquired is THL Credit Income Fund.

What are the key conditions for the acquisition to close?

The acquisition is subject to customary closing conditions.

Filing Stats: 591 words · 2 min read · ~2 pages · Grade level 11.2 · Accepted 2024-08-12 16:19:56

Key Financial Figures

  • $0.01 — ich registered Common Stock, par value $0.01 per share PTMN The NASDAQ Global Se

Filing Documents

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits: Exhibit Number Description 99.1 Press Release, dated August 8, 2024 99.2 Investor Presentation, dated August 9, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL Document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PORTMAN RIDGE FINANCE CORPORATION By: /s/ Brandon Satoren Name: Brandon Satoren Title: Chief Financial Officer Date: August 12, 2024

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