Portman Ridge Finance (PTMN) and Logan Ridge Finance Corporation (LRFC) announced that their boards of directors have established special committees of independent directors to more fully evaluate the potential business combination of the two companies that was previously disclosed in their respective Form 10-Q filings with the Securities and Exchange Commission, which may result in the use of an exchange ratio other than NAV-for-NAV in connection therewith. The special committee of Portman Ridge’s board of directors has retained Keefe, Bruyette & Woods, Inc. as financial advisor and Stradley Ronon Stevens & Young as legal counsel. The special committee of Logan Ridge’s board of directors has retained Houlihan Lokey as financial advisor and Skadden, Arps, Slate, Meagher & Flom as legal counsel.
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