Document:

EX-4.11

  Exhibit 4.11

  Description of Portman Ridge Finance Corporation’s Registered Securities

  References herein to “we,” “us,” “our” and “Company” refer to Portman Ridge Finance Corporation and not to any of its subsidiaries.

  COMMON STOCK

  The following description of our common stock is a summary and does not purport to be complete. It is subject to and qualified in its entirety by reference to our Certificate of Incorporation, as amended (the “certificate of incorporation”), and our Third Amended and Restated Bylaws, as amended (the “Bylaws”), each of which is incorporated by reference as an exhibit to the Annual Report on Form 10-K of which this Exhibit is a part. We encourage you to read the Certificate of Incorporation, Bylaws and the applicable provisions of the Delaware General Corporation Law (the “DGCL”) for additional information.

  Authorized Capital Stock

  Our authorized capital stock consists of 20,000,000 shares of common stock, par value $0.01 per share, and 5,000,000 shares of preferred stock, par value $0.01 per share.

  Voting

  Each share of our common stock is entitled to one vote on all matters submitted to a vote of stockholders, including the election of directors. The holders of common stock possess exclusive voting power except (i) as provided with respect to any other class or series of capital stock or (ii) as may be required by the Investment Company Act of 1940 (the “1940 Act”) if we fail to meet certain asset coverage requirements. There is no cumulative voting in the election of directors, or any other matter, which means that holders of a majority of the outstanding shares of common stock are able elect all of our directors, and holders of less than a majority of such shares are unable to elect any director.

  Dividends

  Under the terms of our certificate of incorporation, all shares of our common stock have equal rights as to earnings, assets and dividends. The DGCL permits a corporation to declare and pay dividends out of “surplus” or, if there is no “surplus,” out of its net profits for the fiscal year in which the dividend is declared and/or the preceding fiscal year. “Surplus” is defined as the excess of the net assets of the corporation over the amount determined to be the capital of the corporation by its board of directors. The capital of the corporation is typically calculated to be (and cannot be less than) the aggregate par value of all issued shares of capital stock. Net assets equals the fair value of the total assets minus total liabilities. The DGCL also provides that dividends may not be paid out of net profits if, after the payment of the dividend, remaining capital would be less than the capital represented by the outstanding stock of all classes having a preference upon the distribution of assets. Declaration and payment of any dividend is subject to the discretion of our board of directors (“Board of Directors”).

  Shares of our common stock have no preemptive, exchange, conversion or redemption rights and are freely transferable, except where their transfer is restricted by U.S. federal and state securities laws or by contract.

  Liquidation Rights

  In the event of our liquidation, dissolution or winding up, each share of our common stock would be entitled to share ratably in all of our assets that are legally available for distribution after we pay all debts and other liabilities and subject to any preferential rights of holders of any series preferred stock that might be outstanding at that time.

  Dissenters’ Rights of Appraisal and Payment

  Under the DGCL, with certain exceptions, our stockholders will have appraisal rights in connection with a merger or consolidation of our Company. Pursuant to the DGCL, stockholders who properly request and perfect appraisal rights in connection with such merger or consolidation will have the right to receive payment of the fair value of their shares as determined by the Delaware Court of Chancery.

  Stockholders’ Derivative Actions

  Under the DGCL, any of our stockholders may bring an action in our name to procure a judgment in our favor, also known as a derivative action, provided that the stockholder bringing the action is a holder of our shares at the time of the transaction to which the action relates or such stockholder’s stock thereafter devolved by operation of law.

  Limitation on Liability of Directors and Officers; Indemnification

  Under our certificate of incorporation, we will fully indemnify any person who was or is involved in any actual or threatened action, suit or proceeding (whether civil, criminal, administrative or investigative) by reason of the fact that such person is or was one of our directors or officers or is or was serving at our request as a director or officer of another corporation, partnership, limited liability company, joint venture, trust or other enterprise, including service with respect to an employee benefit plan, against all expense, liability and loss (including attorneys’ fees and related disbursements), judgments, fines, excise taxes or penalties under the Employee Retirement Income Security Act of 1974, as amended, penalties and amounts paid or to be paid in settlement, actually and reasonably incurred by such person in connection with such action, suit or proceeding, except with respect to any matter as to which such person shall have been finally adjudicated in a decision on the merits in any such action, suit or other proceeding not to have acted in good faith in the reasonable belief that such person’s action was in our best interests or to be liable to us or our stockholders by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of such 

   

  

   

  person’s office. Our certificate of incorporation also provides that our directors will not be personally liable for monetary damages to us for breaches of their fiduciary duty as directors, except for a breach of their duty of loyalty to us or our stockholders, for acts or omissions not in good faith in the reasonable belief that the action was in the best interests of the Company or which involve intentional misconduct or a knowing violation of law, for authorization of illegal dividends or redemptions or for any transaction from which the director derived an improper personal benefit. So long as we are regulated under the 1940 Act, the above indemnification and limitation of liability will be limited by the 1940 Act or by any valid rule, regulation or order of the SEC thereunder. The 1940 Act provides, among other things, that a company may not indemnify any director or officer against liability to it or its stockholders to which he or she might otherwise be subject by reason of his or her willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his or her office.

  Delaware law also provides that indemnification permitted under the law shall not be deemed exclusive of any other rights to which the directors and officers may be entitled under the corporation’s bylaws, any agreement, a vote of stockholders or otherwise.

  Our certificate of incorporation permits us to secure insurance on behalf of any person who is or was or has agreed to become a director or officer of our Company or is or was serving at our request as a director or officer of another enterprise for any liability arising out of his or her actions, regardless of whether the DGCL would permit indemnification. We have obtained liability insurance for our officers and directors.

  Delaware Law and Certain Certificate of Incorporation and Bylaw Provisions; Anti-Takeover Measures

  We are subject to the provisions of Section 203 of the DGCL. In general, the statute prohibits a publicly held Delaware corporation from engaging in a “business combination” with “interested stockholders” for a period of three years after the date of the transaction in which the person became an interested stockholder, unless the business combination is approved in a prescribed manner. A “business combination” includes certain mergers, asset sales and other transactions resulting in a financial benefit to the interested stockholder. Subject to exceptions, an “interested stockholder” is a person who, together with his, her or its affiliates and associates, owns, or within three years did own, 15% or more of the corporation’s voting stock. Our certificate of incorporation and bylaws provide that:

  •	the Board of Directors is divided into three classes, as nearly equal in size as possible, with staggered three-year terms;

  •	directors may be removed only for cause, at a meeting called for that purpose, by the affirmative vote of the holders of 75% of the shares of our capital stock entitled to vote; and

  •	subject to the requirements of the 1940 Act, any vacancy on the Board of Directors, however the vacancy occurs, including a vacancy due to an enlargement of the Board of Directors, may only be filled by vote of the directors then in office.

  The classification of our Board of Directors and the limitations on removal of directors and filling of vacancies could have the effect of making it more difficult for a third party to acquire us, or of discouraging a third party from acquiring us.

  Our certificate of incorporation and bylaws also provide that:

  •	any action required or permitted to be taken by the stockholders at an annual meeting or special meeting of stockholders may only be taken if it is properly brought before such meeting and may not be taken by written action in lieu of a meeting; and

  •	special meetings of the stockholders may only be called by our Board of Directors, chairman or CEO.

  Our bylaws provide that, in order for any matter to be considered “properly brought” before a meeting, a stockholder must comply with requirements regarding advance notice to us. These provisions could delay, until the next stockholders’ meeting, stockholder actions which are favored by the holders of a majority of our outstanding voting securities. These provisions may also discourage another person or entity from making a tender offer for our common stock, because such person or entity, even if it acquired a majority of our outstanding voting securities, would be able to take action as a stockholder (such as electing new directors or approving a merger) only at a duly called stockholders meeting, and not by written consent.

  Delaware’s law generally provides that the affirmative vote of a majority of the shares entitled to vote on any matter is required to amend a corporation’s certificate of incorporation or bylaws, unless a corporation’s certificate of incorporation or bylaws requires a greater percentage. Under our certificate of incorporation and bylaws, the affirmative vote of the holders of at least 75% of the shares of our capital stock entitled to vote is required to amend or repeal any of the provisions of our bylaws. Moreover, our bylaws provide that generally, a majority of the shares of our capital stock issued and outstanding and entitled to vote may amend our certificate of incorporation. However, the vote of at least 75% of the shares of our capital stock then outstanding and entitled to vote in the election of directors, voting together as a single class, is required to amend or repeal any provision of the certificate of incorporation pertaining to the Board of Directors, limitation of liability, indemnification, stockholder action or amendments to the certificate of incorporation, to approve a proposal to convert, whether by merger or otherwise, from a closed-end company to an open-end company or to approve a proposal to effect our liquidation or dissolution. However, if such amendment or proposal is approved by at least 75% of our continuing directors (in addition to approval by our Board of Directors), such amendment or proposal may be approved by the stockholders entitled to cast a majority of the votes entitled to be cast on such matter. The “continuing directors” is defined in our certificate of incorporation as our directors at the time of the completion of our initial public offering as well as those directors whose nomination for election by the stockholders or whose election by the directors to fill vacancies is approved by a majority of the continuing directors then on our Board of Directors. The stockholder vote with respect to our certificate of incorporation or bylaws would be in addition to any separate class vote that might in the future be required under the terms of any series preferred stock that might be outstanding at the time any such changes are submitted to stockholders. In addition, our certificate of incorporation permits our Board of Directors to amend or repeal our bylaws by a majority vote.

   

  

   

  Transfer Agent and Registrar

  The transfer agent and registrar for common stock is American Stock Transfer & Trust Company, LLC. The transfer agent and registrar’s address is 59 Maiden Lane, New York, New York 10038, and its telephone number is (718) 921-8124 or (800) 937-5449.

  Listing

  Our common stock is traded on The NASDAQ Global Select Market under the symbol “PTMN.”Exhibit 10.1

 

TERMINATION OF BUSINESS COMBINATION AGREEMENT

 

This Termination of Business
Combination Agreement, dated as of March 10, 2022 (this “Termination Agreement”) is by and among MedTech Acquisition
Corporation, a Delaware corporation (“MTAC”), Maestro Merger Sub, Inc., a Delaware corporation (“Merger Sub”),
and Memic Innovative Surgery Ltd. (“Memic”). Capitalized terms used and not defined herein shall have the meanings
ascribed to them in the BCA (as defined below). Section references used herein are to the respective sections of the BCA. MTAC, Merger
Sub and Memic are collectively referred to as the “Parties” and each as a “Party”.

 

WHEREAS, MTAC, Merger Sub
and Memic are parties to that certain Business Combination Agreement, dated as of August 12, 2021 (the “BCA”); and

 

WHEREAS, the Parties wish
to mutually terminate the BCA in accordance with the provisions thereof.

 

NOW, THEREFORE, for good and
valuable consideration, the receipt of which is hereby acknowledged, the Parties hereby agree as follows:

 

		1.	The BCA is hereby terminated, effective immediately, pursuant to Section 9.1(a) of the BCA.

 

		2.	The effect of the termination of the BCA shall be as set forth in Section 9.2 of the BCA; provided
that, subject to the terms set forth herein, the Parties hereby waive their respective rights and benefits that would otherwise have survived
the termination of the BCA in accordance with Section 9.2 of the BCA, such that upon execution hereof, there shall be no continuing obligation
or liability of either party pursuant to the BCA.

 

		3.	MTAC and Memic shall issue a press release relating to this Termination Agreement in the form of Exhibit
A hereto, and MTAC shall file a Form 8-K in the form of Exhibit B hereto no later than the first (1st) Business Day after the
date hereof. Thereafter, except for disclosure or communication required by applicable Legal Requirements or stock exchange rule, or in
response to any request by any Governmental Entity, no Party shall issue any press release with respect to the other Parties, the transactions
contemplated thereby and/or this Termination Agreement without the prior written consent of MTAC, in the case of Memic or Merger Sub,
or Memic in the case of MTAC; provided that, prior to any disclosure or communication required by applicable Legal Requirements
or stock exchange rule or in response to a request by a Governmental Entity, MTAC or Memic, as applicable, shall (i) use their reasonable
best efforts to consult with each other before making any such disclosure, communication or response and (ii) to the fullest extent permitted
by applicable Legal Requirements, first allow the other to review such disclosure, communication or response and the opportunity to comment
thereon, and shall consider such comments in good faith.

 

		4.	MTAC, for itself and on behalf of each of its affiliates, equity holders, partners, joint venturers, lenders,
administrators, representatives, shareholders, parents, subsidiaries, officers, directors, attorneys, agents, employees, legatees, devisees,
executors, trustees, beneficiaries, insurers, predecessors, successors, heirs and assigns, hereby absolutely, forever and fully releases
and discharges the Memic Parties (as defined below) and their respective affiliates and each of their respective present and former direct
and indirect equity holders, directors, officers, employees, predecessors, partners, shareholders, joint venturers, administrators, representatives,
affiliates, attorneys, agents, brokers, insurers, parent entities, subsidiary entities, successors, heirs, and assigns, and each of them,
from all claims, contentions, rights, debts, liabilities, demands, accounts, reckonings, obligations, duties, promises, costs, expenses
(including, without limitation, attorneys’ fees and costs), liens, indemnification rights, damages, losses, actions, and causes
of action, of any kind whatsoever, whether due or owing in the past, present or future and whether based upon contract, tort, statute
or any other legal or equitable theory of recovery, and whether known or unknown, suspected or unsuspected, asserted or unasserted, fixed
or contingent, matured or unmatured, with respect to, pertaining to, based on, arising out of, resulting from, or relating to the BCA,
the Transaction Agreements and the transactions contemplated by the BCA (the “MTAC Released Claims”).

 

     

     

    

 

		5.	Memic and Merger Sub (the “Memic Parties”), for themselves, and on behalf of each of
their respective affiliates, equity holders, partners, joint venturers, lenders, administrators, representatives, shareholders, parents,
subsidiaries, officers, directors, attorneys, agents, employees, legatees, devisees, executors, trustees, beneficiaries, insurers, predecessors,
successors, heirs and assigns, hereby absolutely, forever and fully release and discharge MTAC and its affiliates and each of its present
and former direct and indirect equity holders, directors, officers, employees, predecessors, partners, shareholders, joint venturers,
administrators, representatives, affiliates, attorneys, agents, brokers, insurers, parent entities, subsidiary entities, successors, heirs,
and assigns, and each of them, from all claims, contentions, rights, debts, liabilities, demands, accounts, reckonings, obligations, duties,
promises, costs, expenses (including, without limitation, attorneys’ fees and costs), liens, indemnification rights, damages, losses,
actions, and causes of action, of any kind whatsoever, whether due or owing in the past, present or future and whether based upon contract,
tort, statute or any other legal or equitable theory of recovery, and whether known or unknown, suspected or unsuspected, asserted or
unasserted, fixed or contingent, matured or unmatured, with respect to, pertaining to, based on, arising out of, resulting from, or relating
to the BCA, the Transaction Agreements and the transactions contemplated by the BCA (the “Company Released Claims,”
and together with the MTAC Released Claims, the “Released Claims”).

 

		6.	Notwithstanding anything contained in this Termination Agreement to the contrary, it is the express intention
of the Parties that the Released Claims released pursuant to paragraphs 4 and 5 of this Termination Agreement do not include
claims, if any, based upon a breach of this Termination Agreement or a breach of the Confidentiality Agreement (as defined below).

 

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		7.	Each Party hereby agrees not to (a) make, publish or communicate to any person or in any public or private
forum or through any medium, any disparaging, damaging or demeaning statements about the other Parties or their respective affiliates,
or any of their respective officers, directors, employees, or agents, or (b) otherwise engage, directly or indirectly, in any communications
with any person that may be disparaging to the other Parties and their respective affiliates that may damage the reputation or goodwill
of the other Parties or their respective affiliates, or that may place the other Parties or their respective affiliates in any false or
negative light. Each Party hereby represents to the other Parties that it has not engaged in any of the actions and communications described
in the foregoing prior to the date hereof.

 

		8.	Each Party acknowledges and understands that there is a risk that subsequent to the execution of this
Termination Agreement, each Party may discover, incur or suffer Released Claims that were unknown or unanticipated at the time of the
execution of this Termination Agreement, and which, if known on the date of the execution of this Termination Agreement, might have materially
affected such Party’s decision to enter into and execute this Termination Agreement. Each Party further agrees that by reason of
the releases contained herein, each Party is assuming the risk of such unknown Released Claims and agrees that this Termination Agreement
applies thereto.

 

		9.	Except as otherwise provided in paragraph 3 of this Termination Agreement, the Parties hereby acknowledge
and agree that each Party continues to be bound by the Confidentiality Agreement, dated as of March 11, 2021 (the “Confidentiality
Agreement”), by and among MTAC and Memic, and that all information obtained pursuant to the BCA shall be kept confidential in
accordance with the Confidentiality Agreement.

 

		10.	If any term or other provision of this Termination Agreement is invalid, illegal or incapable of being
enforced by any rule of law, or public policy, all other conditions and provisions of this Termination Agreement shall nevertheless remain
in full force and effect so long as the economic or legal substance of the transactions contemplated by this Termination Agreement are
not affected in any manner materially adverse to any party. Upon such determination that any term or other provision is invalid, illegal
or incapable of being enforced, the Parties shall negotiate in good faith to modify this Termination Agreement so as to effect the original
intent of the Parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated by this Termination
Agreement be consummated as originally contemplated to the fullest extent possible.

 

		11.	This Termination Agreement shall be governed by, and construed in accordance with, the Legal Requirements
of the State of Delaware applicable to contracts executed in and to be performed in such State. Any Legal Proceeding arising out of or
relating to this Termination Agreement shall, to the fullest extent permitted by applicable Legal Requirements, be heard and determined
exclusively in the Court of Chancery of the State of Delaware; provided that if jurisdiction is not available in such court, then
any such Legal Proceeding may be brought in any federal court located in the State of Delaware or any other Delaware state court. To the
fullest extent permitted by applicable Legal Requirements, the Parties hereby (a) irrevocably submit to the exclusive jurisdiction of
the aforesaid courts for themselves and with respect to their respective properties for the purpose of any Legal Proceeding arising out
of or relating to this Termination Agreement brought by any Party and (b) agree not to commence any such Legal Proceeding except in the
courts described above in Delaware, other than any Legal Proceeding in any court of competent jurisdiction to enforce any judgment, decree
or award rendered by any such court in Delaware as described herein. To the fullest extent permitted by applicable Legal Requirements,
each of the Parties hereby irrevocably and unconditionally waives, and agrees not to assert, by way of motion or as a defense, counterclaim
or otherwise, in any Legal Proceeding arising out of or relating to this Termination Agreement, (i) any claim that it is not personally
subject to the jurisdiction of the courts in Delaware as described herein for any reason, (ii) that it or its property is exempt or immune
from jurisdiction of any such court or from any legal process commenced in such courts (whether through service of notice, attachment
prior to judgment, attachment in aid of execution of judgment, execution of judgment or otherwise) and (iii) that (A) the Legal Proceeding
in any such court is brought in an inconvenient forum, (B) the venue of such Legal Proceeding is improper or (C) this Termination Agreement,
or the subject matter hereof, may not be enforced in or by such courts. Each of the Parties hereby waives to the fullest extent permitted
by applicable Legal Requirements, any right it may have to a trial by jury with respect to any Legal Proceeding directly or indirectly
arising out of or relating to this Termination Agreement. Each of the Parties (a) certifies that no Representative, agent or attorney
of any other party has represented, expressly or otherwise, that such other party would not, in the event of any Legal Proceeding, seek
to enforce that foregoing waiver and (b) acknowledges that it and the other Parties have been induced to enter into this Termination Agreement,
as applicable, by, among other things, the mutual waivers and certifications in this paragraph 11.

 

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		12.	This Termination Agreement may be executed and delivered (including by facsimile or portable document
format (.pdf transmission) in one or more counterparts, and by the different Parties in separate counterparts, each of which when executed
shall be deemed to be an original but all of which taken together shall constitute one and the same agreement.

 

		13.	This Termination Agreement may only be amended in writing by the Parties.

 

		14.	Each Party hereby agrees to pay the expenses (including the fees and expenses of counsel, accountants,
investment bankers, experts and consultants) incurred by such Party in connection with the BCA and the transactions contemplated thereby
in accordance with the BCA.

 

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IN WITNESS WHEREOF, the undersigned
have executed this Termination Agreement as of the date written above.

 

	 	MEDTECH ACQUISITION CORPORATION  
	 	 
	 	 
	 	By:	/s/
Christopher Dewey
	 	Name:	Christopher Dewey
	 	Title:	Chief Executive Officer

 

 

[Signature Page to Termination Agreement]

 

    

     

    

 

	 	MEMIC INNOVATIVE SURGURY LTD.
	 	 
	 	 	 
	 	By:	/s/ Dvir Cohen
	 	Name:	Dvir Cohen
	 	Title:	Chief Executive Officer
	 	 	 
	 	 	 
	 	MAESTRO MERGER SUB, INC.
	 	 
	 	 	 
	 	By:	/s/ Dvir Cohen
	 	Name:	Dvir Cohen
	 	Title:	President

 

 

[Signature Page to Termination Agreement]

 

    

     

    

 

Exhibit A

 

Press Release

 

See attached.

 

    

     

    

 

Exhibit B

 

Form 8-K

 

See attached.

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