CAPITALA FINANCE CORP.

(CPTA)
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End-of-day quote Nasdaq  -  2022-06-23
16.15 USD    0.00%
06/07Logan Ridge Finance Corporation Announces Full Repayment of the Legacy 5.75% Convertible Notes and 6.00% Notes Due May 31, 2022
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05/13TRANSCRIPT : Logan Ridge Finance Corporation, Q1 2022 Earnings Call, May 13, 2022
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05/12LOGAN RIDGE FINANCE CORP. : Entry into a Material Definitive Agreement, Results of Operations and Financial Condition, Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K)
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LOGAN RIDGE FINANCE CORP. : Entry into a Material Definitive Agreement, Results of Operations and Financial Condition, Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K)

05/12/2022 | 05:28pm EDT

Item 1.01. Entry into a Material Definitive Agreement.

On May 10, 2022 (the "Effective Date"), Capitala Business Lending, LLC (the "Borrower"), a direct, wholly owned, consolidated subsidiary of Logan Ridge Finance Corporation (the "Company"), amended its existing senior secured revolving credit agreement (the "Amended KeyBank Credit Facility"), with Mount Logan Management, LLC (the "Investment Adviser"), as collateral manager, the lenders from time to time parties thereto (each a "Lender"), KeyBank National Association, as administrative agent, and U.S. Bank National Association, as custodian.

Under the Amended KeyBank Credit Facility, the Lenders have agreed to increase the credit available to the Borrower in an aggregate principal amount of up to $75.0 million as of the Effective Date, with an uncommitted accordion feature that allows the Company to borrow up to an additional $125.0 million. The Amended KeyBank Credit Facility matures on May 10, 2027, unless there is an earlier termination or event of default.

Borrowings under the Amended KeyBank Credit Facility will bear interest at 1M Term SOFR plus 2.90% during the 3-year revolving period and 3.25% thereafter, with 0.40% 1M Term SOFR floor.

The Amended KeyBank Credit Facility is secured by all of the Borrower's assets. Both the Borrower and the Investment Adviser have made customary representations and warranties and are required to comply with various covenants, reporting requirements and other customary requirements for similar credit facilities.

The description above is only a summary of the material provisions of the Amended KeyBank Credit Facility and is qualified in its entirety by reference to the copy of the Form of Revolving Credit and Security Agreement, which is filed as Exhibit 10.1 to this current report on Form 8-K and is incorporated herein by reference thereto.

Item 2.02. Result of Operations and Financial Condition.

On May 12, 2022, the Company issued a press release announcing its financial results for the fiscal quarter ended March 30, 2022. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

The information disclosed under this Item 2.02, including Exhibit 99.1 hereto, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, and shall not be deemed incorporated by reference into any filing made under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, except as expressly set forth by specific reference in such filing.

Item 5.02. Departure of Directors or Certain Officers; Election of Directors;

           Appointment of Certain Officers; Compensatory Arrangements of Certain
           Officers.


On May 9, 2022, the board of directors (the "Board") of the Company unanimously voted to appoint Jennifer Kwon Chou as a Class II director of the Company, to hold office until her successor is elected and qualified, effective immediately.

Ms. Chou accepted the appointment.

Ms. Chou is Managing Director and Chief Strategy Officer of The Gores Group ("Gores"). Ms. Chou has 20 years of strategy and finance experience and currently oversees firm strategy and the development of new products and partnerships for Gores. She also has management responsibilities over the firm's origination, capital raising, external communications, and corporate development functions. Since joining Gores in 2010, Ms. Chou has been responsible for raising capital across Gores' funds. Prior to joining Gores, Ms. Chou was a Director at Sterling Partners, a private equity firm based in Chicago. Prior to Sterling, she worked in capital markets at Lehman Brothers in New York. She began her career at Public Financial Management and the Vanguard Group. Ms. Chou is a graduate of the

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University of Pennsylvania and also received an M.B.A. from Northwestern University's Kellogg School of Management where she was a Robert Toigo Fellow.

Ms. Chou was not appointed pursuant to any arrangement or understanding between her and any other persons pursuant to which she was selected as a director. As of the date of this report, Ms. Chou is not a party to and does not participate in any material plan, contract or arrangement (whether or not written) involving the Company. Further, Ms. Chou and the Company have not been involved in any transaction of the type described in Item 404(a) of Regulation S-K.

Item 9.01. Financial Statements and Exhibits.


(d) Exhibits:

Exhibit Number                                  Description

10.1                     Form of Revolving Credit and Security Agreement, dated as
                       of May  10, 2022, among Capitala Business Lending, LLC, as
                       the borrower, Mount Logan Management, LLC, as the collateral
                       manager, the lenders from to time to time parties thereto,
                       KeyBank National Association, as the administrative agent,
                       and U.S. Bank National Association, as the custodian

99.1                     Press Release, dated May 12, 2022

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