On June 24, 2020, Garrison Capital Inc. (GARS), entered into an Agreement and Plan of Merger with Portman Ridge Finance Corporation (PTMN), Citadel Acquisition Sub Inc. (Acquisition Sub), and Sierra Crest Investment Management LLC (Sierra Crest). The Merger Agreement provides that (i) Acquisition Sub will merge with and into GARS (the Merger), with GARS continuing as the surviving corporation and as a wholly owned subsidiary of PTMN, and (ii) immediately after the effectiveness of the Merger, GARS will merge with and into PTMN (the Second Merger and, together with the Merger, the Mergers), with PTMN continuing as the surviving corporation. On June 24, 2020, in connection with the transactions disclosed above, Brian Chase informed GARS of his resignation, effective June 30, 2020, from the offices of Chief Operating Officer, Chief Compliance Officer and Secretary of GARS. Mr. Chase will continue to serve on the board of directors of GARS following his resignation as an officer.