Portman Ridge Finance Corporation Announces Completion of its Previously Announced 1-for-10 Reverse Stock Split
The reverse stock split was approved by Portman Ridge’s shareholders at its annual stockholders’ meeting held on
No fractional shares will be issued as a result of the reverse stock split. Instead, any stockholder who would have been entitled to receive a fractional share as a result of the reverse stock split will receive cash payments in lieu of such fractional shares. The reverse stock split affects all shareholders uniformly and will not alter any shareholder's percentage interest in the Company's outstanding common stock, except for adjustments that may result from the treatment of fractional shares.
In connection with the reverse stock split, the Company's certificate of incorporation was amended to reduce the authorized number of shares of the Company's common stock from 100 million shares to 20 million shares. Additional information regarding the reverse stock split can be found in the Company’s definitive proxy statement filed with the
Portman Ridge’s filings with the
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The matters discussed in this press release, as well as in future oral and written statements by management of
Forward-looking statements relate to future events or our future financial performance and include, but are not limited to, projected financial performance, expected development of the business, plans and expectations about future investments and the future liquidity of the Company. We generally identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “outlook”, “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar words. Forward-looking statements are based upon current plans, estimates and expectations that are subject to risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements.
Source: Portman Ridge Finance Corporation