Professional
Added to YB: 2024-08-22
Pitch date: 2024-08-21
LRFC [bullish]
Logan Ridge Finance Corporation
-4.64%
current return
Author Info
River Oaks Capital is an investment fund that invests in a concentrated number of small, underfollowed micro cap & small cap public companies. Sign up for the newsletter.
Company Info
Logan Ridge Finance Corporation, formerly known as, Capitala Finance Corp. is specializing in senior subordinated debt and unitranche debt, unitranche loan, first-lien and second-lien loans, lower middle market and middle market, equity co-investment in sponsored companies.
Market Cap
$50.7M
Pitch Price
$20.01
Price Target
N/A
Dividend
N/A
EV/EBITDA
N/A
P/E
-6.82
EV/Sales
6.92
Sector
Capital Markets
Category
turnaround
River Oaks Capital Portfolio Holding: Logan Ridge Finance Corporation
LRFC: BDC at 67% NAV. CEO executing turnaround: equity exposure down to 15%, 6% dividend, 1% buyback (8% authorized). $4-5M FCF in 2024, aiming for $7-8M+. Merger with Portman Ridge at NAV ($90M) expected, would add $8-9M FCF initially. 10% shareholder yield while waiting. Downside protected by NAV discount.
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