Business
SuRo Capital Corp. Fourth Quarter and Fiscal Year 2021 Preliminary Investment Portfolio Update
Net Asset Value Anticipated to be $11.25 to $12.00 Per Share September 30, 2021 Net Asset Value of $14.79 Per Share ($12.04 Dividend-Adjusted) NEW YORK, Jan.
About this update from Suro Capital Corp.
[{"type":"text","content":"Net Asset Value Anticipated to be $11.25 to $12.00 Per Share September 30, 2021 Net Asset Value of $14.79 Per Share ($12.04 Dividend-Adjusted) NEW YORK, Jan. 13, 2022 (GLOBE NEWSWIRE) -- SuRo Capital Corp. (“SuRo Capital”, the “Company”, “we”, “us”, and “our”) (Nasdaq: SSSS) today provided the following preliminary update on its investment portfolio for the fourth quarter and fiscal year ended December 31, 2021. “As we have done over the past several quarters, we would like to provide an update on the ongoing activity in our investment portfolio and a preliminary quarter and fiscal year-end update for our shareholders. Based on information presently available, for the quarter and year ended December 31, 2021, we anticipate SuRo Capital’s net asset value to be approximately $11.25 to $12.00 per share, inclusive of $2.75 per share in dividends declared during the fourth quarter,” said Mark Klein, Chairman and Chief Executive Officer of SuRo Capital. SuRo Capital’s net asset value per share as of September 30, 2021 was $14.79 per share, or $12.04 adjusted for $2.75 in dividends declared during the fourth quarter. Mr. Klein continued, “In 2021, we declared a total of $8.00 per share in dividends, or more than $210.0 million in total distributions, highlighting the most successful year for shareholder return in SuRo Capital’s history. During the year, we monetized over $250.0 million of existing investments and deployed over $80.0 million in new and follow-on investments. As previously noted, we look forward to previewing our 2022 dividend strategy in conjunction with our Q4 earnings in March.” “Following the $75.0 million 6% Notes raised this quarter, we have over $170.0 million in investable capital. We believe our team is well positioned to continue selectively leveraging our robust investment pipeline. In the fourth quarter, we participated in a follow-on investment in Course Hero, Inc. and made a new investment in Rebric, Inc. (d/b/a Compliable) through SuRo Capital Sports. Moving into 2022, we continue to be opportunistic in seeking out compelling, high-growth companies,” Mr. Klein concluded. As previously reported, SuRo Capital’s net assets totaled approximately $425.8 million, or $14.79 per share, at September 30, 2021 and approximately $301.6 million, or $15.14 per share, at December 31, 2020. As of December 31, 2021, SuRo C...