Logan Ridge Finance Corp.: directors' dealings · United States · SEC (Form 4)

About Logan Ridge Finance Corp.

Logan Ridge Finance Corp. is a U.S.-based business development company that traded on the Nasdaq under the ticker LRFC. For francophone investors, it should be viewed as a listed credit vehicle focused on private lending to U.S. lower middle-market companies, with an emphasis on recurring interest income rather than traditional equity-style growth. The company’s business address is in New York, at 650 Madison Avenue, 3rd Floor, New York, NY 10022, and its operations were run from the United States. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1571329/000119312525054042/d924270dex991.htm)) From a business-model perspective, Logan Ridge invested primarily in first lien loans and, to a lesser extent, second lien loans and equity securities. Its mandate was to back established lower middle-market businesses across a broad range of industries, using fundamental credit analysis and focusing on issuers with relatively low cyclicality and operating risk. This positioning is typical of a senior secured credit strategy: the company sought stable interest income and a senior place in the capital structure, which can improve recovery prospects in stressed scenarios, but does not eliminate credit risk. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1571329/000119312525054042/d924270dex991.htm)) Historically, Logan Ridge was part of the U.S. private credit / BDC ecosystem, and it also accessed the capital markets through debt issuance, including 5.25% notes due 2026. Like other BDCs, it elected to be treated as a regulated investment company for U.S. federal tax purposes, which generally allows pass-through treatment if distribution and diversification rules are met. That structure is important for investors because it helps explain the company’s dividend-oriented profile and its sensitivity to portfolio income, realized gains, and credit performance. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1571329/000119312522045592/d302448dn148c.htm)) In competitive terms, Logan Ridge operated in a crowded U.S. private credit market dominated by larger, better-capitalized BDCs and specialty lenders. Its niche was not scale, but targeted lending discipline, a focus on first lien structures, and the ability to source opportunities in the lower middle market. For investors, that can translate into attractive yield potential, but also higher exposure to underwriting quality, refinancing conditions, and borrower-specific risk. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1571329/000119312525054042/d924270dex991.htm)) A major recent development was the company’s merger with Portman Ridge Finance Corporation. SEC filings state that the Portman-Logan merger was completed on July 15, 2025, after which Logan Ridge ceased to exist as a standalone listed entity. The transaction was part of a broader consolidation trend and reflected a push toward greater scale, diversification, and operating efficiency. This is particularly relevant for investors reviewing recent insider filings on Form 4, because post-merger references to Logan Ridge must be interpreted in the context of the combined platform rather than as an independent ongoing issuer. ([sec.gov](https://www.sec.gov/Archives/edgar/data/0002051820/000162828026035167/logan-20260331.htm?utm_source=openai))