Business
SuRo Capital Corp. Reports Fourth Quarter and Fiscal Year 2021 Financial Results
Net Asset Value of $11.72 Per Share as of December 31, 2021 Board of Directors Declares $0.11 Per Share Cash Dividend NEW YORK, March 09, 2022 (GLOBE
About this update from Suro Capital Corp.
[{"type":"text","content":"Net Asset Value of $11.72 Per Share as of December 31, 2021 Board of Directors Declares $0.11 Per Share Cash Dividend NEW YORK, March 09, 2022 (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, 2021. Net assets totaled approximately $364.8 million, or $11.72 per share, at December 31, 2021, inclusive of dividends totaling $2.75 per share declared during the fourth quarter, as compared to a dividend-adjusted $12.04 per share at September 30, 2021 and dividend-adjusted $7.14 per share at December 31, 2020. “2021 was a momentous year for SuRo Capital, as we achieved many milestones as a firm. We reached our highest ever NAV per share, our highest dividend-adjusted NAV per share, and our highest year-end net assets under management in firm history. We were able to take advantage of both a strong demand for high growth technology businesses as well as a strong IPO market and M&A environment to monetize over $258 million of our portfolio assets. As a result, we had the most successful year for shareholder return in our history, declaring a total of $8.00 per share for over $212 million in total distributions,” said Mark Klein, President and Chief Executive Officer of SuRo Capital. Mr. Klein continued, “In addition to the monetization and distribution activities during 2021, we were also able to access the non-convertible debt markets for the first time, raising $75.0 million of 6% Notes. This capital raise, in addition to the proceeds we retained after our monetizations, provides our team with significant investable capital to continue selectively leveraging our robust investment pipeline.” “Consistent with our desire to be shareholder friendly and our continued practice of distributing net realized gains, on March 8, 2022, SuRo Capital’s Board of Directors declared a cash dividend of $0.11 per share,” said Mr. Klein. Investment Portfolio as of December 31, 2021 At December 31, 2021, SuRo Capital held positions in 38 portfolio companies with an aggregate fair value of approximately $260.1 million. The Company’s top five portfolio company investments accounted for approximately 57% of the total investment portfolio at fair value as of December 31, 2021. Top Five Investments as of Dece...