OHA Investment — Merger or Acquisition (August 2019)
12 slides from OHA Investment's merger presentation, Aug 1, 2019
Slide 1: Investor Presentation August 1, 2019
Investor Presentation August 1, 2019 Filed by Portman Ridge Finance Corporation pursuant to Rule 425 under the Securities Act of 1933 and deemed filed under Rule 14a-12 of the Securities Exchange Act of 1934 Subject Company: OHA Investment Corporation Commission File No. 814-00672
Slide 2: Important Information: Forward-Looking Statements
Important Information Forward-Looking Statements Statements contained in this Presentation (including those relating to the proposed transaction, the impact to OHA Investment Corporation (“OHAI”) and Portman Ridge Finance Corporation (“Portman Ridge” or “PTMN”) as a result of the proposed transactio
Slide 3: Executive Summary
Executive Summary On August 1, 2019, OHA Investment Corporation (NASDAQ: OHAI) (“OHAI”) and Portman Ridge Finance Corporation (NASDAQ: PTMN) (“Portman Ridge” or “PTMN”) announced that they have entered into a definitive agreement under which OHAI will merge with and into Portman Ridge, an externally
Slide 4: Summary of Key Transaction Terms
Summary of Key Transaction Terms Management Agreement Payment to Stockholders Ongoing Equity Investment by Manager Additional Support from Manager Board of Directors BCP Credit will continue to be the investment manager of the combined company through the currently in place investment advisory agree
Slide 5: Compelling Transaction for PTMN & OHAI Stockholders
Compelling Transaction for PTMN & OHAI Stockholders Fully Integrated Platform with BC Partners Focused Investment Strategy Demonstrated M&A Ability Scale Benefits Stockholders of the combined entity will be able to access the full range of resources of a leading asset management firm Partnership wit
Slide 6: Illustrative Transaction Analysis for OHAI Stockholders
Illustrative Transaction Analysis for OHAI Stockholders(1) 1 For purposes of this analysis, March 31, 2019 NAVs for OHAI and PTMN are being used, adjusted for estimated transaction expenses. 2.Through July 30, 2019.
Slide 7: Appendix
RIDGE Appendix
Slide 8: Portman Ridge Overview and Current Portfolio
Current Portfolio (FMV as of 3/31/2019)1 Emphasis on Secured Lending 1 Improved Portfolio Credit Quality 2 Interest Coverage Wtd Avg Net Leverage Yield on Debt Portfolio: 11.9% Yield on Debt Portfolio: 11.0% 1 Percentages exclude Short-Term investments. 2. Source: Publicly available information, inc
Slide 9: BC Partners Differentiators
Views expressed are those of BCP Credit. 1 Anticipated portfolio construction provided for illustrative purposes only. BC Partners Differentiators While the increasing popularity of direct lending has gathered many headlines as of late, we believe the BC Partners Credit platform is differentiated on
Slide 10: BC Platform, Flexible Differentiated Strategy, High Quality Underwriting
BC PLATFORM Access to deal flow and sourcing through fully integrated model BCP Operations team supports our ability to add value to portfolio companies Utilization of BC Partners’ broader resources, including relationships and institutional knowledge from over 30 years of private market investing H
Slide 11: Full integration with the BC Partners platform
Full integration with the BC Partners platform provides an edge at every stage of the investment process 150+ employees 60+ PE investment professionals including 8-member Operations Team 9 Investor Relations professionals 38 Support professionals 12 Operating Advisors $21 billion in PE AUM across co
Slide 12: Important Information
Important Information Please be advised that the information presented in this Presentation is provided for illustrative purposes only and are intended to provide insight into the investment experience of the Manager and are not representative of the number and types of opportunities that will be av