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SuRo Capital Corp. Reports Third Quarter 2020 Financial Results
Net Asset Value of $12.46 per Share as of September 30, 2020 SAN FRANCISCO, Nov. 05, 2020 (GLOBE NEWSWIRE) -- SuRo Capital Corp. (“SuRo Capital”, the
About this update from Suro Capital Corp.
[{"type":"text","content":"Net Asset Value of $12.46 per Share as of September 30, 2020\nSAN FRANCISCO, Nov. 05, 2020 (GLOBE NEWSWIRE) -- SuRo Capital Corp. (“SuRo Capital”, the “Company”, “we”, “us”, and “our”) (Nasdaq: SSSS) today announced its financial results for the quarter ended September 30, 2020. Net assets totaled approximately $252.7 million, or $12.46 per share, at September 30, 2020, as compared to $11.84 per share at June 30, 2020 and $11.24 per share at September 30, 2019.\n “This quarter, SuRo Capital saw continued sequential improvement over last quarter, reaching its highest dividend-adjusted net asset value per share since September 30, 2015. Moreover, on October 28, 2020, our Board of Directors declared a $0.25 dividend, which is in addition to the $0.25 dividend previously declared on September 28, 2020,” said Mark Klein, President and Chief Executive Officer of SuRo Capital. Klein continued, “The quarter was highlighted by several encouraging developments for our existing portfolio companies, including the direct listing of Palantir on the New York Stock Exchange, as well as an exciting new financing for Coursera, in which SuRo Capital participated with a $2.8 million follow-on, pro rata investment. Additionally, we are pleased to announce the closing of a new $10.0 million equity investment in Blink Health, Inc. subsequent to quarter-end.” Investment Portfolio as of September 30, 2020 At September 30, 2020, SuRo Capital held positions in 24 portfolio companies with an aggregate fair value of approximately $215.4 million, excluding treasuries. As a result of the Company’s ongoing strategy to increase the size of its investments in individual portfolio companies, SuRo Capital continues to consolidate its investment portfolio around its top positions. The Company’s top five portfolio company investments accounted for approximately 71% of the total portfolio at fair value as of September 30, 2020. Top Five Investments as of September 30, 2020 Portfolio Company ($ in millions) Cost BasisFair Value% of Total PortfolioCoursera, Inc. $ 17.4 $ 52.724.5 % Palantir Technologies, Inc. 15.1 46.721.7 Course Hero, Inc. 5.0 31.814.8 Nextdoor.com, Inc. 10.0 10.64.9 Ozy Media, Inc. 10.9 10.34.8 Total (rounded) $ 58.4 $ 152.170.6 % Third Quarter 2020 Investment Portfolio Activity During the three months ended September 30, 2020, SuRo Capital funded th...