Business
SuRo Capital Corp. Reports Fourth Quarter and Fiscal Year 2020 Financial Results
Net Asset Value of $15.14 per Share as of December 31, 2020 Board of Directors Declares $0.25 Per Share Dividend Exited Palantir Technologies, Inc. Position
About this update from Suro Capital Corp.
[{"type":"text","content":"Net Asset Value of $15.14 per Share as of December 31, 2020 Board of Directors Declares $0.25 Per Share Dividend Exited Palantir Technologies, Inc. Position for $119M Total Realized Gain SAN FRANCISCO, March 10, 2021 (GLOBE NEWSWIRE) -- SuRo Capital Corp. (“SuRo Capital”, the “Company”, “we”, “us”, and “our”) (Nasdaq: SSSS) today announced its financial results for the fourth quarter and fiscal year ended December 31, 2020. Net assets totaled approximately $301.6 million, or $15.14 per share, at December 31, 2020, inclusive of dividends totaling $0.47 per share declared during the fourth quarter, as compared to $12.46 per share at September 30, 2020 and $11.38 per share at December 31, 2019. “As of year-end 2020, SuRo Capital reported its highest dividend-adjusted net asset value per share since September 2015, driven by positive developments in our portfolio, including the strong performance of Palantir in the public market. Subsequent to year-end, on March 5, 2021, Coursera, our second largest position as of year-end, publicly filed its Form S-1 registration statement. Combined with the monetization of our entire Palantir position at significant gains, we believe Coursera’s imminent IPO will provide significant value to our shareholders,” said Mark Klein, President and Chief Executive Officer of SuRo Capital. Mr. Klein continued, “Moreover, consistent with our ethos to be shareholder friendly, SuRo Capital’s Board of Directors evaluates our portfolio on an ongoing basis to determine dividends. On March 8, 2021, SuRo Capital’s Board of Directors declared a $0.25 per share dividend.” “Finally, as previously discussed, we have broadened our focus beyond our core equity strategy into private credit and pre-SPAC merger PIPEs. The purpose of the Company has always been democratizing access to asset classes and specific investments generally unavailable to the public. In an effort to be a leader in this democratization, we continue to have active dialogue with sponsors and investment banks to expand our participation beyond PIPEs to include founders equity and founder warrants. As a result, we are excited to continue to offer shareholders proprietary access we believe no other public vehicles presently provide.” Investment Portfolio as of December 31, 2020 At December 31, 2020, SuRo Capital held positions in 27 portfolio companies wi...