Portman Ridge Finance Changes Name to BCP Investment

Portman Ridge Finance has changed its name to BCP Investment, effective after market close on August 22. The company's shares of common stock will cease trading under PTMN ticker on August 25.

Portman Ridge Finance (NASDAQ: PTMN), a business development company specializing in investments across various sectors, has announced a significant change to its name and ticker symbol. Effective after the market close on August 22, the company will be known as BCP Investment, with its shares of common stock ceasing to trade under the PTMN ticker on August 25 and commencing trading as BCIC [1].

This name change is part of the company's merger with Logan Ridge Finance (LRFC), which was disclosed on June 17. The merger aims to consolidate resources and expand the investment portfolio, focusing on sectors such as healthcare, cargo transport, manufacturing, and real estate, among others [2].

BCP Investment will continue to specialize in unitranche loans, first lien loans, second lien loans, subordinated debt, equity co-investment, mezzanine, buyout in middle market companies, and acquisitions of complementary businesses. The fund typically invests between $1 million and $20 million in its portfolio companies, providing senior secured term loans, second lien term loans, senior unsecured loans, mezzanine loans, and equity investments [2].

The company's new identity reflects its commitment to growth and diversification, positioning it to capitalize on opportunities in the middle market. Investors should closely monitor the transition to ensure a smooth trading process.

References:
[1] https://seekingalpha.com/news/4488270-portman-ridges-name-change-to-bcp-investment-effective-after-market-close-today
[2] https://finance.yahoo.com/quote/PTMN/