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SuRo Capital Corp. Fourth Quarter and Fiscal Year 2022 Preliminary Investment Portfolio Update
Net Asset Value Anticipated to be $7.15 to $7.65 Per Share NEW YORK, Jan. 17, 2023 (GLOBE NEWSWIRE) -- SuRo Capital Corp. (“SuRo Capital”, the “Company”,
About this update from Suro Capital Corp.
[{"type":"text","content":"Net Asset Value Anticipated to be $7.15 to $7.65 Per Share\nNEW YORK, Jan. 17, 2023 (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, 2022. “2022 has been well documented as one of the worst years for equity markets in decades. However, as we move into the new year with approximately $125 million of investable capital, we stand ready to continue investing in both primary and secondary opportunities for later-stage, high-growth companies at what we believe will be compelling valuations. To that end, during the fourth quarter of 2022, we completed a $10 million primary investment in Locus Robotics Corp., a leader in autonomous mobile robots (AMR) for fulfillment and distribution warehouses,\" said Mark Klein, Chairman and Chief Executive Officer of SuRo Capital. Klein concluded, “Based on information presently available, for the quarter and year ended December 31, 2022, we anticipate SuRo Capital’s net asset value to be approximately $7.15 to $7.65 per share.” As previously reported, SuRo Capital’s net assets totaled approximately $221.8 million, or $7.83 per share, at September 30, 2022, and approximately $364.8 million, or $11.72 per share at December 31, 2021. As of December 31, 2022, SuRo Capital’s net asset value is estimated to be between $7.15 to $7.65 per share. As of December 31, 2022, there were 28,429,499 shares of the Company’s common stock outstanding. Investment Portfolio Update As of December 31, 2022, SuRo Capital held positions in 39 portfolio companies – 33 privately held and 6 publicly held, some of which may be subject to certain lock-up provisions. During the three months ended December 31, 2022, SuRo Capital made the following investments: Portfolio CompanyInvestmentTransaction DateAmountLocus Robotics Corp.Series F Preferred11/30/2022$10.0 millionYouBet Technologies Inc. (d/b/a FanPower) (1)Series Seed-2 Preferred11/17/2022$250,000 ___________________(1)Represents a follow-on investment made through SuRo Capital Sports, LLC. During the three months ended December 31, 2022, SuRo Capital exited or received proceeds from the following investments: Portfolio CompanyTransaction DateShares SoldAverage Net Share Price(1)Net P...