0000935836-23-000645.txt : 20231005
0000935836-23-000645.hdr.sgml : 20231005
20231005175405
ACCESSION NUMBER: 0000935836-23-000645
CONFORMED SUBMISSION TYPE: 3
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20231002
FILED AS OF DATE: 20231005
DATE AS OF CHANGE: 20231005
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Repertoire Partners LP
CENTRAL INDEX KEY: 0001909393
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 3
SEC ACT: 1934 Act
SEC FILE NUMBER: 814-00735
FILM NUMBER: 231312308
BUSINESS ADDRESS:
STREET 1: 31 HUDSON YARDS
STREET 2: 11TH FLOOR SUITE #43
CITY: NEW YORK
STATE: NY
ZIP: 10001
BUSINESS PHONE: 415-677-7050
MAIL ADDRESS:
STREET 1: 31 HUDSON YARDS
STREET 2: 11TH FLOOR SUITE #43
CITY: NEW YORK
STATE: NY
ZIP: 10001
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Portman Ridge Finance Corp
CENTRAL INDEX KEY: 0001372807
IRS NUMBER: 205951150
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 650 MADISON AVNUE
STREET 2: 23RD FLOOR
CITY: NEW YORK
STATE: NY
ZIP: 10022
BUSINESS PHONE: 212.891.2880
MAIL ADDRESS:
STREET 1: 650 MADISON AVNUE
STREET 2: 23RD FLOOR
CITY: NEW YORK
STATE: NY
ZIP: 10022
FORMER COMPANY:
FORMER CONFORMED NAME: KCAP Financial, Inc.
DATE OF NAME CHANGE: 20120710
FORMER COMPANY:
FORMER CONFORMED NAME: Kohlberg Capital CORP
DATE OF NAME CHANGE: 20061211
FORMER COMPANY:
FORMER CONFORMED NAME: Kohlberg Capital, LLC
DATE OF NAME CHANGE: 20060815
3
1
ownership.xml
X0206
3
2023-10-02
0
0001372807
Portman Ridge Finance Corp
PTMN
0001909393
Repertoire Partners LP
345 CALIFORNIA STREET, SUITE 600
SAN FRANCISCO
CA
94104
0
0
1
0
Common Stock
1083825
I
See Note
Equity Swap (obligation to buy)
23.7618
2021-08-27
2024-08-27
Common Stock
15426
I
See Note
Equity Swap (obligation to buy)
24.4880
2021-11-29
2024-11-29
Common Stock
37489
I
See Note
Equity Swap (obligation to buy)
24.5297
2021-12-03
2024-12-03
Common Stock
20178
I
See Note
Equity Swap (obligation to buy)
24.53
2021-11-24
2024-11-24
Common Stock
1435
I
See Note
Equity Swap (obligation to buy)
23.19
2021-07-19
2024-07-19
Common Stock
25000
I
See Note
Equity Swap (obligation to buy)
23.7385
2021-05-28
2024-05-28
Common Stock
10319
I
See Note
Equity Swap (obligation to buy)
24.4225
2021-12-10
2024-12-10
Common Stock
10798
I
See Note
Equity Swap (obligation to buy)
21.2654
2021-03-24
2024-03-24
Common Stock
7632
I
See Note
Equity Swap (obligation to buy)
24.4481
2021-11-26
2024-11-26
Common Stock
3642
I
See Note
Equity Swap (obligation to buy)
24.6301
2021-11-30
2024-11-30
Common Stock
64651
I
See Note
Equity Swap (obligation to buy)
23.8879
2021-06-29
2024-06-29
Common Stock
593
I
See Note
Equity Swap (obligation to buy)
24.5296
2021-12-06
2024-12-06
Common Stock
25000
I
See Note
Equity Swap (obligation to buy)
24.5293
2021-12-02
2024-12-02
Common Stock
4127
I
See Note
Equity Swap (obligation to buy)
22.52
2022-11-30
2025-11-30
Common Stock
106
I
See Note
Equity Swap (obligation to buy)
21.7256
2021-03-25
2024-03-25
Common Stock
14643
I
See Note
Equity Swap (obligation to buy)
23.9973
2021-10-07
2024-10-07
Common Stock
64922
I
See Note
Equity Swap (obligation to buy)
24.4044
2021-12-09
2024-12-09
Common Stock
7513
I
See Note
Equity Swap (obligation to buy)
23.9751
2021-09-01
2024-09-01
Common Stock
9912
I
See Note
Equity Swap (obligation to buy)
21.8799
2021-03-31
2024-03-31
Common Stock
17394
I
See Note
Equity Swap (obligation to buy)
24.3787
2021-12-15
2024-12-15
Common Stock
32940
I
See Note
Equity Swap (obligation to buy)
24.4102
2021-12-13
2024-12-13
Common Stock
8715
I
See Note
Equity Swap (obligation to buy)
24.4104
2021-12-14
2024-12-14
Common Stock
13016
I
See Note
Repertoire Partners LP ("Repertoire") is the investment adviser to Repertoire Master Fund LP (the "Master Fund"). Repertoire Holdings LLC ("Holdings") is the general partner of the Master Fund. Deepak Sarpangal is the control person of both Repertoire and Holdings. These securities are held directly by the Master Fund for the benefit of its investors. The securities may be deemed to be beneficially owned by Repertoire as the investment adviser to the Master Fund, by Holdings as the general partner of the Master Fund and by Mr. Sarpangal as the control person of Repertoire and Holdings. Each of Repertoire, Holdings and Mr. Sarpangal disclaims beneficial ownership of such securities except to the extent of that person's pecuniary interest therein.
Pursuant to an equity swap agreement entered into by the Master Fund with a counterparty, upon expiration of the 3-year term of the agreement, (1) the Master Fund will be obligated to pay to the counterparty the price per share set forth in Column 4 for the notional number of shares of PTMN common stock set forth in Column 3, and (2) the counterparty will be obligated to pay to the Master Fund the market value of the notional number of shares of PTMN common stock set forth in Column 3 as of the end of that period. The Master Fund will pay to the counterparty monthly interest on the purchase price of the notional shares, at a rate tied to a market index, and the counterparty will pay to the Master Fund all dividends and similar distributions paid on an equivalent number of shares of PTMN common stock during the term.
Before 10/2/2023, the Master Fund reported the securities subject to this report and transactions in those securities. Effective as of 10/2/2023, the Master Fund beneficially owns less than 10% of the outstanding shares of the issuer and is no longer subject to the reporting requirement of Section 16(a) of the Securities and Exchange Act. While Repertoire previously did not file a Form 3 in reliance on Rule16a-1(a)(1)(v) under the Act, Repertoire is filing this Form 3 because it may be deemed to indirectly beneficially own more than 10% of the outstanding shares of the issuer. Repertoire is filing this Form 4 on behalf of itself, Holdings and Mr. Sarpangal. The filers are filing this Form jointly, but not as a group, and each expressly disclaims membership in a group.
/s/ Deepak Sarpangal, Managing Member of the General Partner of Repertoire Partners LP
2023-10-05