Portman Ridge Finance (NASDAQ: PTMN) shares surged 4.22% during the after-hours session on Tuesday, July 15, 2025, climbing to $13.08 following completion of its merger with LRFC.
The company recently completed its merger with Logan Ridge Finance Corporation (LRFC), with Portman Ridge Finance Corporation continuing as the surviving entity. As part of the merger terms, LRFC shareholders will receive approximately 4.0 million shares of Portman Ridge common stock, at a rate of 1.5 shares for each LRFC common share.
This follows a closing price of $12.85. The stock opened the day at $44.00, with trading volume reaching 46.70 thousand shares.
