trending Market Intelligence /marketintelligence/en/news-insights/trending/2wM0skqC2oNbjW7Klk5ovg2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Portman Ridge-OHA Investment merger closes

Street Talk Episode 61 - Investors debate if U.S. banks have enough capital in post COVID world

You Down With PPP? Consider The Risks

Street Talk Episode 60 - You Down With PPP? Consider The Risks

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive


Portman Ridge-OHA Investment merger closes

The merger deal between business development companies Portman Ridge Finance Corp and OHA Investment Corp. is closed, as OHA Investment has been absorbed by Portman Ridge.

Beginning Dec. 18, OHA Investment stockholders are eligible for a $3.0 million cash payment from an affiliate of BC Partners Advisors LP and LibreMax Capital LLC. OHA stockholders are also entitled to receive the merger consideration of about $8.5 million in cash from Portman Ridge and about 7.4 million shares of Portman Ridge common stock. Each OHA common share will thus earn about 57 cents in cash and 0.3688 share of Portman Ridge common stock.

The combined company will be externally managed by Sierra Crest Investment Management LLC and is expected to have total assets of about $316 million and a net asset value of approximately $156 million after closing.

OHA Investment stockholders are expected to own about 16.6% of the combined company.

UBS Investment Bank served as financial adviser and Simpson Thacher & Bartlett LLP served as counsel to Portman Ridge. Keefe Bruyette & Woods served as exclusive financial adviser to the special committee of OHA Investment's board. Dechert LLP served as counsel to OHA Investments and the special committee of OHA Investment's board.