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SuRo Capital Corp. Second Quarter Preliminary Investment Portfolio Update
Net Asset Value Anticipated to be $16.50 to $17.00 Per Share SAN FRANCISCO, July 14, 2021 (GLOBE NEWSWIRE) -- SuRo Capital Corp. (“SuRo Capital”, the
About this update from Suro Capital Corp.
[{"type":"text","content":"Net Asset Value Anticipated to be $16.50 to $17.00 Per Share\nSAN FRANCISCO, July 14, 2021 (GLOBE NEWSWIRE) -- SuRo Capital Corp. (“SuRo Capital”, the “Company”, “we”, “us”, and “our”) (Nasdaq: SSSS) today provided the following preliminary update on its investment portfolio for the second quarter ended June 30, 2021. “As we have done over the past several quarters, we would like to provide an update on the ongoing activity in our investment portfolio and a preliminary quarter-end update for our shareholders. Based on information presently available, for the quarter ended June 30, 2021, we anticipate SuRo Capital’s net asset value to be approximately $16.50 to $17.00 per share, inclusive of the effects of $2.50 per share of dividends declared and paid during the quarter. This represents our highest dividend-adjusted net asset value per share since inception,” said Mark Klein, Chairman and Chief Executive Officer of SuRo Capital. “During the second quarter, we made new equity investments in Skillsoft Corp. and Trax Ltd. in addition to follow-on investments in Architect Capital PayJoy SPV, LLC and Blink Health, Inc.” Klein continued, “In line with our previously discussed strategy to invest in pre-merger SPAC PIPEs and SPAC founder shares, we also made a $2.7 million investment in Colombier Sponsor LLC and retained two board seats as part of the transaction. We continue to evaluate exciting opportunities within the SPAC market and believe our proprietary access within the SPAC universe has delivered, and will continue to surface, unique opportunities for SuRo Capital.” As previously reported, SuRo Capital’s net assets totaled approximately $436.0 million, or $18.01 per share, at March 31, 2021 and approximately $192.7 million, or $11.84 per share, at June 30, 2020. As of June 30, 2021, SuRo Capital’s net asset value is estimated to be between $16.50 and $17.00 per share. This range includes a customary discount to the quarter-end pricing of investments in public common shares, as those shares were subject to certain lock up provisions at quarter-end. As of June 30, 2021, there were 26,540,743 shares of the Company’s common stock outstanding. Investment Portfolio Update At June 30, 2021, SuRo Capital held positions in 34 portfolio companies – all privately-held with the exception of Coursera, Inc and Skillsoft Corp. During the thre...