Kcap Financial Earnings 2019-06-30

KCAP 10Q Quarterly Report

Balance Sheet	Income Statement	Cash Flow

10-Q 1 ptmn-10q_20190630.htm 10-Q ptmn-10q_20190630.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

☒	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2019

☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File No. 814-00735

Portman Ridge Finance Corporation

(Exact name of Registrant as specified in its charter)

Delaware

20-5951150

(State or other jurisdiction of

Incorporation or organization)

(I.R.S. Employer

Identification Number)

650 Madison Avenue, 23rd Floor

New York, New York 10022

(Address of principal executive offices)

(212) 891-2880

(Registrant's telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.01 per share	PTMN	The NASDAQ Global Select Market
6.125% Notes due 2022	KCAPL	The NASDAQ Global Select Market

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days: Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☐ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☐	Accelerated filer	☒
Non-accelerated filer	☐	Smaller reporting company	☐
Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒

The number of outstanding shares of common stock of the registrant as of August 2, 2019 was 37,356,061.

TABLE OF CONTENTS

		Page

	Part I. Financial Information

Item 1.	Consolidated Financial Statements

	Consolidated Balance Sheets as of June 30, 2019 (unaudited) and December 31, 2018	5

	Consolidated Statements of Operations (unaudited) for the three and six months ended June 30, 2019 and 2018	6

	Consolidated Statements of Changes in Net Assets (unaudited) for the three and six months ended June 30, 2019 and 2018	7

	Consolidated Statements of Cash Flows (unaudited) for the six months ended June 30, 2019 and 2018	8

	Consolidated Schedule of Investments as of June 30, 2019 (unaudited) and December 31, 2018	9

	Consolidated Financial Highlights (unaudited) for the six months ended June 30, 2019 and 2018	25

	Notes to Consolidated Financial Statements (unaudited)	26

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	68

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	95

Item 4.	Changes in and Disagreements with Accountants on Accounting and Financial Disclosure	96

Item 5.	Controls and Procedures	97

	Part II. Other Information

Item 1.	Legal Proceedings	98

Item 1A.	Risk Factors	98

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	98

Item 3.	Defaults Upon Senior Securities	98

Item 4.	Mine Safety Disclosures	98

Item 5.	Other Information	98

Item 6.	Exhibits	98

Signatures		100

NOTE ABOUT REFERENCES TO PORTMAN RIDGE FINANCE CORPORATION

In this Quarterly Report on Form 10-Q, the “Company”, “Portman Ridge”, “we”, “us” and “our” refer to Portman Ridge Finance Corporation and its wholly-owned subsidiaries, Great Lakes KCAP Funding I LLC, Kohlberg Capital Funding I LLC, KCAP Senior Funding I, LLC and KCAP Senior Funding I Holdings, LLC, unless the context otherwise requires.

NOTE ABOUT FORWARD-LOOKING STATEMENTS

The information contained in this item should be read in conjunction with our consolidated financial statements and notes thereto appearing elsewhere in this Quarterly Report and in conjunction with the financial statements and notes thereto in the Company’s Form 10-K for the year ended December 31, 2018, as filed with the U.S. Securities and Exchange Commission (the “Commission” or the “SEC”). In addition, some of the statements in this report constitute forward-looking statements. The matters discussed in this Quarterly Report, as well as in future oral and written statements by management of Portman Ridge Finance Corporation, that are forward-looking statements are based on current management expectations that involve substantial risks and uncertainties which could cause actual results to differ materially from the results expressed in, or implied by, these forward-looking statements. Forward-looking statements relate to future events or our future financial performance. We generally identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “outlook, ”believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar words. Important assumptions include our ability to originate new investments, achieve certain margins and levels of profitability, the availability of additional capital, and the ability to maintain certain debt to asset ratios. In light of these and other uncertainties, the inclusion of a projection or forward-looking statement in this Quarterly Report should not be regarded as a representation by us that our plans or objectives will be achieved. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including without limitation:

•

our future operating results;

•

our business prospects and the prospects of our existing and prospective portfolio companies;

•

the return or impact of current and future investments;

•

our contractual arrangements and other relationships with third parties;

•

the dependence of our future success on the general economy and its impact on the industries in which we invest;

•

the financial condition and ability of our existing and prospective portfolio companies to achieve their objectives;

•

our expected financings and investments;

•

our regulatory structure and tax treatment;

•

our ability to operate as a business development company (“BDC”) and a regulated investment company (“RIC”), including the impact of changes in laws or regulations governing our operations or the operations of our portfolio companies;

•

the adequacy of our cash resources and working capital;

•

the timing of cash flows, if any, from the operations of our portfolio companies;

•

the ability of Sierra Crest Investment Management LLC (the “Adviser”) to locate suitable investments for us to monitor and administer our investments;

•

the ability of the Adviser to attract and retain highly talented professionals;

•

actual and potential conflicts of interest with the Adviser and its affiliates;

•

our ability to qualify and maintain our qualification as a RIC under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), and as a BDC;

•

the effect of legal, tax, and regulatory changes;

•

the impact of a protracted decline in the liquidity of credit markets on our business;

•

the impact of fluctuations in interest rates on our business;

•

the valuation of our investments in portfolio companies, particularly those having no liquid trading market;

•

our ability to recover unrealized losses;

•

market conditions and our ability to access additional capital; and

•

the timing, form and amount of any dividend distributions.

For a more detailed discussion of factors that could cause our actual results to differ from forward-looking statements contained in this Quarterly Report, please see the discussion in Part II, “Item 1A. Risk Factors”, and in Part I, “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2018. You should not place undue reliance on these forward-looking statements. The forward-looking statements made in this Quarterly Report relate only to events as of the date on which the statements are made. We undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date this Quarterly Report is filed with the SEC.

PORTMAN RIDGE FINANCE CORPORATION

CONSOLIDATED BALANCE SHEETS

	June 30, 2019			December 31, 2018
	(unaudited)
ASSETS
Investments at fair value:
Short-term investments (cost: 2019 - $27,443,091; 2018 - $44,756,478)	$	27,443,091		$	44,756,478
Debt securities (amortized cost: 2019 - $185,518,733; 2018 - $162,264,482)		175,321,765			147,861,744
CLO Fund Securities managed by affiliates (amortized cost: 2019 - $46,522,911; 2018 - $4,407,106)		37,667,754			4,473,840
CLO Fund Securities managed by non-affiliates (amortized cost: 2019 - $2,777,759; 2018 - $51,073,520)		2,338,727			39,851,160
Equity securities (cost: 2019 - $16,482,841; 2018 - $9,477,763)		4,143,686			2,038,020
Asset Manager Affiliates (cost: 2019 - $17,791,230; 2018 - $17,791,230)		—			3,470,000
Joint Ventures (cost: 2019 - $42,611,525; 2018 - $37,381,525)		40,089,257			30,857,107
Total Investments at Fair Value (cost: 2019 - $339,148,090; 2018 - $327,152,104)		287,004,280			273,308,349
Cash		236,828			5,417,125
Restricted cash		3,467,338			3,907,341
Interest receivable		875,396			1,342,970
Receivable for Open Trades		10,457,443			—
Due from affiliates		695,768			1,007,631
Operating lease right-of-use asset		1,687,901			—
Other assets		1,068,576			481,265
Total Assets	$	305,493,530		$	285,464,681
LIABILITIES
6.125% Notes Due 2022 (net of offering costs of: 2019-$1,933,295; 2018 - $2,207,341)	$	75,473,905		$	75,199,858
Great Lakes KCAP Funding I, LLC Revolving Credit Facility (net of offering costs of: 2019-$1,326,443; 2018 - $1,155,754)		44,032,368			25,200,331
Operating lease liability		3,415,460			—
Payable for open trades		38,030,859			23,204,564
Accounts payable and accrued expenses		2,162,223			3,591,910
Accrued interest payable		1,386,248			131,182
Due to affiliates		788,776			115,825
Management and incentive fees payable		1,026,100			—
Total Liabilities		166,315,939			127,443,670
COMMITMENTS AND CONTINGENCIES (NOTE 8)
STOCKHOLDERS' EQUITY
Common stock, par value $0.01 per share, 100,000,000 common shares authorized; 37,550,920 issued, and 37,356,061 outstanding at June 30, 2019, and 37,521,705 issued, and 37,326,846 outstanding at December 31, 2018		373,561			373,268
Capital in excess of par value		307,172,819			306,784,387
Total distributable (loss) earnings		(168,368,789	)		(149,136,644	)
Total Stockholders' Equity		139,177,591			158,021,011
Total Liabilities and Stockholders' Equity	$	305,493,530		$	285,464,681
NET ASSET VALUE PER COMMON SHARE	$	3.73		$	4.23

See accompanying notes to consolidated financial statements.

PORTMAN RIDGE FINANCE CORPORATION

CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Investment Income:
Interest from investments in debt securities	$	3,831,861		$	3,910,473		$	6,768,657		$	7,308,670
Payment-in-kind investment income		11,520			369,116			13,542			732,053
Interest from cash and time deposits		16,444			12,211			52,113			61,416
Investment income on CLO Fund Securities managed by affiliates		1,607,308			1,414,903			1,739,754			3,248,569
Investment income on CLO Fund Securities managed by non-affiliates		105,574			98,341			1,786,848			197,702
Dividends from Asset Manager Affiliates		—			300,000			—			620,000
Investment income - Joint Ventures		1,291,667			700,000			2,241,667			1,400,000
Capital structuring service fees		49,795			43,399			110,998			106,509
Total investment income		6,914,169			6,848,443			12,713,579			13,674,919
Expenses:
Management fees		1,026,100			—			1,026,100			—
Performance-based incentive fees		—			—			—			—
Interest and amortization of debt issuance costs		1,982,431			1,847,432			3,783,357			3,711,280
Compensation		—			1,005,050			3,688,578			2,212,387
Professional fees		514,523			906,965			2,182,645			1,621,375
Insurance		359,449			79,726			448,099			157,748
Administrative services expense		409,600			—			409,600			—
Other general and administrative expenses		311,296			480,351			1,059,615			982,466
Impairment of operating lease right-of-use asset		1,431,030			—			1,431,030			—
Total expenses		6,034,429			4,319,524			14,029,024			8,685,256
Management and performance-based incentive fees waived		—			—			—			—
Net Expenses		6,034,429			4,319,524			14,029,024			8,685,256
Net Investment (Loss) Income		879,740			2,528,919			(1,315,445	)		4,989,663
Realized And Unrealized (Losses) Gains On Investments:
Net realized (losses) gains from investment transactions		(2,270,962	)		(3,671	)		(15,620,391	)		(571	)
Net change in unrealized (depreciation) appreciation on:
Debt securities		2,305,906			(682,477	)		4,205,770			(1,125,361	)
Equity securities		151,619			(227,169	)		(4,899,412	)		(163,573	)
CLO Fund Securities managed by affiliates		(532,566	)		(787,433	)		(615,135	)		(1,008,252	)
CLO Fund Securities managed by non-affiliates		(66,680	)		(154,059	)		2,476,572			195,296
Asset Manager Affiliates investments		—			(1,310,000	)		—			(996,000	)
Joint Venture Investments		(1,315,379	)		(675,882	)		4,002,150			(424,506	)
Total net change in unrealized appreciation (depreciation)		542,900			(3,837,020	)		5,169,945			(3,522,396	)
Net realized and unrealized (depreciation) appreciation on investments		(1,728,062	)		(3,840,691	)		(10,450,446	)		(3,522,967	)
Realized losses on extinguishments of Debt		—			—			—			(169,074	)
Net (Decrease) Increase In Stockholders’ Equity Resulting From Operations	$	(848,322	)	$	(1,311,772	)	$	(11,765,891	)	$	1,297,622
Net (Decrease) Increase In Stockholders' Equity Resulting from Operations per Common Share:
Basic:	$	(0.02	)	$	(0.04	)	$	(0.32	)	$	0.03
Diluted:	$	(0.02	)	$	(0.03	)	$	(0.32	)	$	0.03
Net Investment (Loss) Income Per Common Share:
Basic:	$	0.02		$	0.07		$	(0.04	)	$	0.13
Diluted:	$	0.02		$	0.07		$	(0.04	)	$	0.13
Weighted Average Shares of Common Stock Outstanding—Basic		37,349,371			37,363,038			37,342,272			37,356,759
Weighted Average Shares of Common Stock Outstanding—Diluted		37,349,371			37,363,038			37,342,272			37,356,759

See accompanying notes to consolidated financial statements.

PORTMAN RIDGE FINANCE CORPORATION

CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS⁽¹⁾

(unaudited)

	Six Months Ended June 30,
	2019			2018
Operations:
Net investment (loss) income	$	(1,315,445	)	$	4,989,663
Net realized (losses) gains from investment transactions		(15,620,391	)		(571	)
Realized losses from extinguishments of debt		—			(169,074	)
Net change in unrealized appreciation on investments		5,169,945			(3,522,396	)
Net (decrease) increase in stockholders’ equity resulting from operations		(11,765,891	)		1,297,622
Stockholder distributions:		(7,466,254	)		(7,434,120	)
Capital share transactions:
Issuance of common stock for:
Dividend reinvestment plan		129,789			102,099
Common stock withheld for payroll taxes upon vesting of restricted stock		-			(85,807	)
Stock based compensation		258,936			460,893
Net increase in net assets resulting from capital share transactions		388,725			477,185
Net assets at beginning of period		158,021,011			181,804,576
Net assets at end of period	$	139,177,591		$	176,145,264
Net asset value per common share	$	3.73		$	4.72
Common shares outstanding at end of period		37,356,061			37,341,924

(1)	Refer to note 10 "Stockholders' Equity" for additional information on changes in components of Stockholders' Equity

See accompanying notes to consolidated financial statements.

PORTMAN RIDGE FINANCE CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited)

	Six Months Ended June 30,
	2019			2018
OPERATING ACTIVITIES:
Net (decrease) increase in stockholder's equity resulting from operations	$	(11,765,891	)	$	1,297,622
Adjustments to reconcile net (decrease) increase in stockholder’s equity resulting from operations to net cash (used in) provided by in operations:
Net realized losses (gains) on investment transactions		15,620,391			571
Net change in unrealized appreciation from investments		(5,169,945	)		3,522,396
Purchases of investments		(59,016,697	)		(61,534,043	)
Proceeds from sales and redemptions of investments		35,658,265			100,935,386
Net accretion of investments		(3,392,422	)		(3,998,143	)
Amortization of debt issuance costs		475,507			424,938
Realized losses on extinguishments of debt		—			169,074
Operating lease impairment		1,431,030			—
Net amortization of operating lease		55,174			—
Payment-in-kind interest income		(13,542	)		(732,053	)
Stock-based compensation		258,936			460,893
Changes in operating assets and liabilities:
Increase (decrease) in payable for open trades		14,826,295			(33,439,015	)
(Increase) Decrease in receivable for open trades		(10,457,443	)		2,993,750
Decrease (increase) in interest and dividends receivable		467,574			(469,587	)
Increase in accrued interest payable		1,255,066			90,664
(Increase) decrease in other assets		(587,311	)		52,185
Decrease (increase) in due from affiliates		311,863			87,858
Increase in management and incentive fees payable		672,951			(16,393	)
(Decrease) increase in due to affiliates		1,026,100			-
Decrease (increase) in accounts payable and accrued expenses		1,429,687			(768,275	)
Net cash (used in) provided by operating activities		(16,914,412	)		9,077,828
FINANCING ACTIVITIES:
Debt issuance costs		(372,150	)		(1,379,899	)
Issuance (forfeitures) of restricted shares		—			(20	)
Common stock withheld for payroll taxes upon vesting of restricted stock		—			(85,807	)
Distributions to stockholders		(7,336,465	)		(7,332,021	)
Repayment 7.375 Notes Due 2019		—			(20,000,000	)
Borrowings under Great Lakes KCAP Funding LLC, Revolving Credit Facility		45,000,000			27,000,000
Repayment of Great Lakes KCAP Funding LLC, Revolving Credit Facility		(25,997,274	)		(5,839,813	)
Net cash provided by (used in) financing activities		11,294,111			(7,637,560	)
CHANGE IN CASH AND RESTRICTED CASH		(5,620,300	)		1,440,268
CASH AND RESTRICTED CASH, BEGINNING OF PERIOD		9,324,466			2,034,095
CASH AND RESTRICTED CASH, END OF PERIOD	$	3,704,166		$	3,474,363
Supplemental Information:
Interest paid during the period	$	1,570,418		$	3,195,678
Dividends paid during the period under the dividend reinvestment plan	$	129,789		$	102,099
Supplemental non-cash information:
Realized loss on Asset Manager Affiliates	$	3,470,000		$	—
Amounts per balance sheet
Cash	$	236,828		$	2,451,249
Restricted cash		3,467,338			1,023,114
Total Cash and Restricted cash	$	3,704,166		$	3,474,363

See accompanying notes to consolidated financial statements.

PORTMAN RIDGE FINANCE CORPORATION

CONSOLIDATED SCHEDULE OF INVESTMENTS

As of June 30, 2019

(unaudited)

Debt Securities Portfolio

Portfolio Company / Principal Business		Investment Interest Rate¹ / Maturity¹⁵	Initial Acquisition Date	Principal		Amortized Cost		Fair Value²
Advanced Lighting Technologies, Inc. Consumer goods: Durable	^(5)(8)(13)	Junior Secured Loan — Second Lien Notes 9.3% Cash, 10.0% PIK, 3 month LIBOR(2.29%) + 7.00%; LIBOR Floor 1.00% , Due 10/23	6/13/2012	$	1,108,051	$	1,078,343	$	2,474

Akumin Corp. Healthcare & Pharmaceuticals	^(8)(14)	Senior Secured Loan — Term B Loan 8.4% Cash, 1 month LIBOR(2.44%) + 6.00%; LIBOR Floor 1.00% , Due 5/24	5/31/2019		2,250,000		2,205,764		2,205,000

BMC Acquisition, Inc. (aka BenefitMall) Banking, Finance, Insurance & Real Estate	^(8)(13)(14)	Senior Secured Loan — Initial Term Loan 7.9% Cash, 6 month LIBOR(2.65%) + 5.25%; LIBOR Floor 1.00% , Due 12/24	1/2/2018		2,955,000		2,953,632		2,913,031

Bristol Hospice, L.L.C. Healthcare & Pharmaceuticals	^(8)(13)(14)	Junior Secured Loan — Initial Term Loan (Second Lien) 9.7% Cash, 1 month LIBOR(2.40%) + 7.25%; LIBOR Floor 1.00% , Due 1/24	3/29/2019		8,800,000		8,746,520		8,835,499

BW NHHC Holdco Inc. Healthcare & Pharmaceuticals	^(8)(13)(14)	Senior Secured Loan — Initial Term Loan (First Lien) 7.4% Cash, 1 month LIBOR(2.40%) + 5.00% , Due 5/25	5/16/2018		1,980,000		1,954,997		1,848,825

Carestream Health, Inc. Healthcare & Pharmaceuticals	^(8)(13)	Junior Secured Loan — Extended Term Loan (Second Lien) 11.9% Cash, 1 month LIBOR(2.40%) + 9.50%; LIBOR Floor 1.00% , Due 6/21	10/7/2014		1,510,955		1,499,111		1,480,736

Child Development Schools, Inc. Services: Business	^(8)(14)	Senior Secured Loan — Term Loan 6.7% Cash, 3 month LIBOR(2.48%) + 4.25% , Due 5/23	6/6/2018		4,657,184		4,648,050		4,645,542

Community Care Health Network, Inc. (aka Matrix Medical Network) Healthcare & Pharmaceuticals	^(8)(14)	Senior Secured Loan — Closing Date Term Loan 7.1% Cash, 3 month LIBOR(2.35%) + 4.75%; LIBOR Floor 1.00% , Due 2/25	2/9/2018		1,980,000		1,976,008		1,848,108

Corsair Gaming, Inc. High Tech Industries	^(8)(14)	Senior Secured Loan — Term Loan (First Lien) 6.6% Cash, 3 month LIBOR(2.33%) + 4.25%; LIBOR Floor 1.00% , Due 8/24	9/29/2017		1,979,899		1,975,904		1,965,049

Corsair Gaming, Inc. High Tech Industries	⁽⁸⁾	Junior Secured Loan — Term Loan (Second Lien) 10.8% Cash, 3 month LIBOR(2.33%) + 8.50%; LIBOR Floor 1.00% , Due 8/25	9/29/2017		5,000,000		4,941,263		4,900,000

Portfolio Company /

Principal Business

Investment

Interest Rate¹ / Maturity¹⁵

Initial

Acquisition

Date

Principal

Amortized

Cost

Fair Value²

CSM Bakery Solutions Limited (fka CSM Bakery Supplies Limited)

Beverage, Food and Tobacco

⁽⁸⁾

Junior Secured Loan — Term Loan (Second Lien)

10.3% Cash, 3 month LIBOR(2.59%) + 7.75%; LIBOR Floor 1.00% , Due 7/21

5/23/2013

3,000,000

3,005,058

2,801,149

CT Technologies Intermediate Holdings, Inc. (Smart Holdings Corp.) (aka HealthPort)

Healthcare & Pharmaceuticals

^(8)(13)(14)

Senior Secured Loan — New Term Loan Facility

6.7% Cash, 1 month LIBOR(2.40%) + 4.25%; LIBOR Floor 1.00% , Due 12/21

11/19/2014

3,943,524

3,938,518

3,420,031

Digitran Innovations B.V. (Pomeroy Solutions Holding Company, Inc.)

High Tech Industries

^(8)(13)(14)

Senior Secured Loan — Term Loan

9.8% Cash, 3 month LIBOR(2.33%) + 7.50%; LIBOR Floor 1.50% , Due 7/24

12/10/2018

4,962,406

4,917,720

4,844,090

Drilling Info Holdings, Inc.

High Tech Industries

^(8)(13)(14)

Senior Secured Loan — Initial Term Loan (First Lien)

6.7% Cash, 1 month LIBOR(2.40%) + 4.25% , Due 7/25

2/12/2019

3,369,206

3,359,351

3,352,360

Dun & Bradstreet Corporation, The

Telecommunications

^(8)(13)(14)

Senior Secured Loan — Initial Term Borrowing

7.4% Cash, 1 month LIBOR(2.40%) + 5.00% , Due 2/26

4/24/2019

5,000,000

5,043,248

10-Q	2019-06-30	Quarter: 2019-06-30
10-Q	2019-03-31	Quarter: 2019-03-31
10-K	2018-12-31	Annual: 2018-12-31
10-Q	2018-09-30	Quarter: 2018-09-30
10-Q	2018-06-30	Quarter: 2018-06-30
10-Q	2018-03-31	Quarter: 2018-03-31
10-K	2017-12-31	Annual: 2017-12-31
10-Q	2017-09-30	Quarter: 2017-09-30
10-Q	2017-06-30	Quarter: 2017-06-30
10-Q	2017-03-31	Quarter: 2017-03-31
10-K	2016-12-31	Annual: 2016-12-31
10-Q	2016-09-30	Quarter: 2016-09-30
10-Q	2016-06-30	Quarter: 2016-06-30
10-Q	2016-03-31	Quarter: 2016-03-31
10-K	2015-12-31	Annual: 2015-12-31
10-Q	2015-09-30	Quarter: 2015-09-30
10-Q	2015-06-30	Quarter: 2015-06-30
10-Q	2015-03-31	Quarter: 2015-03-31
10-K	2014-12-31	Annual: 2014-12-31
10-Q	2014-09-30	Quarter: 2014-09-30
10-Q	2014-06-30	Quarter: 2014-06-30
10-Q	2014-03-31	Quarter: 2014-03-31
10-K	2013-12-31	Annual: 2013-12-31

8-K	2019-08-06	Earnings, Regulation FD, Exhibits
8-K	2019-07-31	Enter Agreement, Other Events, Exhibits
8-K	2019-07-10	Shareholder Vote
8-K	2019-05-09	Accountant, Exhibits
8-K	2019-04-01	Enter Agreement, Leave Agreement, Officers, Amend Bylaw, Other Events, Exhibits
8-K	2019-03-28	Other Events, Exhibits
8-K	2019-03-27	Enter Agreement, Off-BS Arrangement, Exhibits
8-K	2019-03-20	Other Events, Exhibits
8-K	2019-03-04	Other Events, Exhibits
8-K	2019-02-19	Shareholder Vote
8-K	2019-01-31	Earnings, Regulation FD, Exhibits
8-K	2019-01-02	Other Events, Exhibits
8-K	2018-12-31	M&A, Sale of Shares, Exhibits
8-K	2018-12-17	Other Events, Exhibits
8-K	2018-12-14	Enter Agreement, Sale of Shares, Exhibits
8-K	2018-12-12	Other Events, Exhibits
8-K	2018-12-12	Amend Bylaw, Exhibits
8-K	2018-12-04	Other Events
8-K	2018-11-09	Other Events, Exhibits
8-K	2018-11-08	Enter Agreement
8-K	2018-10-29	Earnings, Regulation FD, Exhibits
8-K	2018-10-24	Other Events, Exhibits
8-K	2018-09-18	Other Events, Exhibits
8-K	2018-06-19	Other Events, Exhibits
8-K	2018-05-03	Shareholder Vote
8-K	2018-03-29	Other Events
8-K	2018-03-20	Other Events, Exhibits

ACT	Advanced Credit Technologies	1,629
ASG	All Soft Gels	114
AQB	Aquabounty Technologies	63
OFS	OFS Capital	0
TSLX	TPG Specialty Lending	0
AIQ	Alliance Healthcare Services	0
PSEC	Prospect Capital	0
FIF	Financial Federal	0
DUSA	Dusa Pharmaceuticals	0
CACG	Chart Acquisition	0

EX-31.1	ptmn-ex311_9.htm
EX-31.2	ptmn-ex312_8.htm
EX-32.1	ptmn-ex321_6.htm
EX-32.2	ptmn-ex322_7.htm