The investment banking and asset management firm JMP Group (JMP) has divested its interest in Harvest Capital Credit Corporation to Portman Ridge Finance Corporation. Following the announcement, shares of the company rose 1.1% to close at $5.7 on June 11. The transaction is valued at approximately $9.7 million, which consists of cash and stock. Chairman and CEO Joe Jolson said, “This transaction represents the continuation of our well-established plan to divest non-strategic asset management businesses in order to simplify our company and deleverage.
https://www.tipranks.com/news/jmp-group-sells-interest-in-harvest-capital-to-portman-ridge-for-9-7m
JMP (NYSE:JMP)
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