Portman Ridge Finance Corp
For the period ended Jun 30, 2024. Filed Aug 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 8, 2024
BCIC$6.17+3.0%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Financial Statements Consolidated Balance Sheets as of June 30, 2024 (unaudited) and December 31, 2023
| June 30, 2024 | December 31, 2023 | |
|---|---|---|
| (Unaudited) | ||
| ASSETS | ||
| Investments at fair value: | ||
| Non-controlled/non-affiliated investments (amortized cost: 2024 - $409,486; 2023 - $426,630) | $370,359 | $398,325 |
| Non-controlled affiliated investments (amortized cost: 2024 - $62,769; 2023 - $55,611) | 60,464 | 55,222 |
| Controlled affiliated investments (cost: 2024 - $50,428; 2023 - $58,041) | 13,547 | 14,318 |
| Total Investments at Fair Value (cost: 2024 - $522,683; 2023 - $540,282) | $444,370 | $467,865 |
| Cash and cash equivalents | 9,813 | 26,912 |
| Restricted cash | 26,826 | 44,652 |
| Interest receivable | 4,659 | 5,162 |
| Receivable for unsettled trades | — | 573 |
| Due from affiliates | 1,544 | 1,534 |
| Other assets | 1,599 | 2,541 |
| Total Assets | $488,811 | $549,239 |
| LIABILITIES | ||
| 2018-2 Secured Notes (net of discount of: 2024 - $414; 2023 - $712) | $84,656 | $124,971 |
| 4.875% Notes Due 2026 (net of discount of: 2024 - $974; 2023 - $1,225; net of deferred financing costs of: 2024 - $430; 2023 - $561) | 106,596 | 106,214 |
| Great Lakes Portman Ridge Funding LLC Revolving Credit Facility (net of deferred financing costs of: 2024 - $609; 2023 - $775) | 91,391 | 91,225 |
| Payable for unsettled trades | 37 | 520 |
| Accounts payable, accrued expenses and other liabilities | 2,700 | 4,252 |
| Accrued interest payable | 3,537 | 3,928 |
| Due to affiliates | 411 | 458 |
| Management and incentive fees payable | 3,054 | 4,153 |
| Total Liabilities | $292,382 | $335,721 |
| COMMITMENTS AND CONTINGENCIES (NOTE 8) | ||
| NET ASSETS | ||
| Common stock, par value $0.01 per share, 20,000,000 common shares authorized; 9,951,485 issued, and 9,260,495 outstanding at June 30, 2024, and 9,943,385 issued, and 9,383,132 outstanding at December 31, 2023 | $93 | $94 |
| Capital in excess of par value | 715,488 | 717,835 |
| Total distributable (loss) earnings | (519,152) | (504,411) |
| Total Net Assets | $196,429 | $213,518 |
| Total Liabilities and Net Assets | $488,811 | $549,239 |
| Net Asset Value Per Common Share | $21.21 | $22.76 |
CONSOLIDATED STATEMENTS OF OPERATIONS
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