NEW YORK, June 29, 2020 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of Garrison Capital Inc. (GARS) breached their fiduciary duties or violated the federal securities laws in connection with the company’s proposed merger with Portman Ridge Finance Corporation, a business development company managed by Sierra Crest Investment Management LLC, BC Partners Advisors L.P., and LibreMax Capital LLC.
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On June 24, 2020, Garrison Capital announced that it had signed an agreement to be acquired by Portman Ridge. Pursuant to the merger agreement, Garrison Capital’s stockholders will receive $1.50 in cash and a yet to be determined number of Portman Ridge shares, proportional to the net asset value of Garrison Capital at the closing of the merger, for each share of Garrison Capital common stock owned. The deal is scheduled to close in the fourth quarter of 2020.
Bragar Eagel & Squire is concerned that Garrison Capital’s board of directors oversaw an unfair process and ultimately agreed to an inadequate deal price. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Garrison Capital’s stockholders.
If you own shares of Garrison Capital and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at firstname.lastname@example.org or telephone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.