Business
SuRo Capital Corp. Tender Offer Expiring on September 2, 2022 at 5:00 P.M., Eastern Time
Modified Dutch Auction Tender Offer to Repurchase up to 2 Million Sharesat a Price per Share Between $6.00 and $7.00 NEW YORK, Aug. 30, 2022 (GLOBE NEWSWIRE)
About this update from Suro Capital Corp.
[{"type":"text","content":"Modified Dutch Auction Tender Offer to Repurchase up to 2 Million Sharesat a Price per Share Between $6.00 and $7.00 NEW YORK, Aug. 30, 2022 (GLOBE NEWSWIRE) -- SuRo Capital Corp. (“SuRo Capital”, the “Company”, “we”, “us”, and “our”) (Nasdaq: SSSS) today reminded its stockholders its modified “Dutch Auction” tender offer (the “Tender Offer”), which commenced on August 8, 2022, remains scheduled to expire at 5:00 P.M., Eastern Time, on September 2, 2022. The Company launched the Tender Offer to purchase up to 2,000,000 shares of its common stock at a price per share not less than $6.00 and not greater than $7.00 in $0.10 increments, using available cash. If the Tender Offer is fully subscribed, the Company will purchase 2,000,000 shares, or approximately 6.60%, of the Company’s outstanding shares of its common stock. Any shares tendered may be withdrawn prior to expiration of the Tender Offer. Stockholders that do not wish to participate in the Tender Offer do not need to take any action. Based on the number of shares tendered and the prices specified by the tendering stockholders, the Company will determine the lowest per-share price that will enable it to acquire up to 2,000,000 shares of its common stock. All shares accepted in the Tender Offer will be purchased at the same price even if tendered at a lower price. The Tender Offer is not contingent upon any minimum number of shares being tendered. The Tender Offer is, however, subject to other conditions, which have been disclosed in the Tender Offer documents. In the future, the Board of Directors may consider additional tender offer(s) or other measures to enhance shareholder value based upon a variety of factors, including the market price of the Company’s common stock and its net asset value. The Company’s Board of Directors is not making any recommendation to stockholders as to whether to tender or refrain from tendering their shares into the Tender Offer. Stockholders must decide how many shares they will tender, if any, and the price within the stated range at which they will offer their shares for purchase. The information agent for the Tender Offer is D.F. King & Co. Inc., and the depositary is American Stock Transfer & Trust Company, LLC. The offer to purchase (the “Offer to Purchase”), a letter of transmittal and related documents have been mailed to registered hol...