Business
SuRo Capital Corp. Reports Third Quarter 2021 Financial Results
Net Asset Value of $14.79 Per Share as of September 30, 2021 Board of Directors Declares $2.00 Per Share Dividend SAN FRANCISCO, Nov. 03, 2021 (GLOBE
About this update from Suro Capital Corp.
[{"type":"text","content":"Net Asset Value of $14.79 Per Share as of September 30, 2021 Board of Directors Declares $2.00 Per Share Dividend SAN FRANCISCO, Nov. 03, 2021 (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, 2021. Net assets totaled approximately $425.8 million, or $14.79 per share, at September 30, 2021, inclusive of a $2.25 per share dividend declared and paid during the third quarter, as compared to $16.56 per share at June 30, 2021 and $12.46 per share at September 30, 2020. “This quarter, SuRo Capital again reached its highest dividend-adjusted NAV since inception driven by four completed or announced SPAC mergers, two completed or announced IPOs, and two completed acquisitions. These major milestones for our portfolio companies create significant present and future value for our shareholders and allow SuRo Capital to deploy meaningful capital in new and exciting investment opportunities,” said Mark Klein, Chairman and Chief Executive Officer of SuRo Capital. Mr. Klein continued, “As we deploy this capital, we continue to maintain a selective and robust investment pipeline. During the third quarter, we added seven new companies to our investment portfolio, including Orchard Technologies, Inc., Varo Money, Inc., and PayJoy, Inc. We continue to be opportunistic in seeking out compelling high-growth companies.” “Consistent with our desire to be shareholder friendly and our continued practice of distributing realized gains, on November 2, 2021, SuRo Capital’s Board of Directors declared a $2.00 per share dividend to shareholders and approved an extension of the Share Repurchase Program to October 31, 2022. The dividend will be payable on December 30, 2021, to shareholders of record on November 17, 2021. Our Board is offering shareholders the option to elect to take as much as 100% of their dividend in stock and has capped the aggregate cash dividend to 50% of the total dividend payable. This brings the aggregate dividends declared or paid in 2021 to $7.25 per share,” said Mr. Klein. Investment Portfolio as of September 30, 2021 At September 30, 2021, SuRo Capital held positions in 39 portfolio companies with an aggregate fair value of approximately $315.8 million. The Company’s top five portfolio company investm...