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SuRo Capital Corp. Prices Public Offering of $70,000,000 6.00% Notes Due 2026
SAN FRANCISCO, Dec. 09, 2021 (GLOBE NEWSWIRE) -- SuRo Capital Corp. (“SuRo Capital” or the “Company”) (Nasdaq:SSSS) today announced that it has priced a
About this update from Suro Capital Corp.
[{"type":"text","content":"SAN FRANCISCO, Dec. 09, 2021 (GLOBE NEWSWIRE) -- SuRo Capital Corp. (“SuRo Capital” or the “Company”) (Nasdaq:SSSS) today announced that it has priced a registered public offering of $70,000,000 aggregate principal amount of its 6.00% Notes due 2026 (the “Notes”), which will result in net proceeds to the Company of approximately $67,462,500 (or approximately $77,634,375 if the underwriters fully exercise the overallotment option described below) based on a public offering price of 100% of the aggregate principal amount of the Notes, after deducting payment of underwriting discounts and commissions and estimated offering expenses payable by the Company. The Notes will mature on December 30, 2026 and may be redeemed in whole or in part at any time, or from time to time, at the Company’s option on or after December 30, 2024. The Notes will bear interest at a rate of 6.00% per year, payable quarterly on March 30, June 30, September 30, and December 30 of each year, beginning on March 30, 2022. The Company has also granted the underwriters a 30-day option to purchase an additional $10,500,000 aggregate principal amount of Notes to cover overallotments, if any. The offering is subject to customary closing conditions and is expected to close on December 17, 2021. The Company has submitted an application for the Notes to be listed and trade on The Nasdaq Global Market under the trading symbol “SSSSL”. If approved for listing, the Company expects the Notes to begin trading within 30 days from the original issue date. The Company intends to use the net proceeds from this offering to make investments in portfolio companies in accordance with its investment objective and strategies, and for general corporate purposes. Ladenburg Thalmann & Co. Inc., InspereX LLC, and Barrington Research Associates, Inc. are acting as underwriters of this offering. Investors are advised to carefully consider the investment objective, risks and charges and expenses of the Company before investing. The preliminary prospectus supplement, dated December 9, 2021, and accompanying prospectus, dated July 27, 2020, each of which has been filed with the Securities and Exchange Commission, contain a description of these matters and other important information about the Company and should be read carefully before investing. The information in the preliminary prospectus ...