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 a Business Development Company 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
7.55%
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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