Business
SuRo Capital Corp. Third Quarter Preliminary Investment Portfolio Update
Net Asset Value Anticipated to be $14.15 to $15.00 Per Share June 30, 2021 Net Asset Value of $16.56 Per Share ($14.31 Dividend-Adjusted) SAN FRANCISCO, Oct.
About this update from Suro Capital Corp.
[{"type":"text","content":"Net Asset Value Anticipated to be $14.15 to $15.00 Per Share June 30, 2021 Net Asset Value of $16.56 Per Share ($14.31 Dividend-Adjusted) SAN FRANCISCO, Oct. 04, 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 third quarter ended September 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 September 30, 2021, we anticipate SuRo Capital’s net asset value to be approximately $14.15 to $15.00 per share, inclusive of a $2.25 per share dividend declared and paid during the quarter. Given the developments reported over the past week, we are presently marking our investment in Ozy Media, Inc. at zero,” said Mark Klein, Chairman and Chief Executive Officer of SuRo Capital. SuRo Capital net asset value per share as of June 30, 2021 was $16.56 per share, or $14.31 adjusted for the $2.25 dividend declared on August 3, 2021. “Overall, during the third quarter we saw positive and robust portfolio activity. Both Forge Global, Inc. and Aspiration Partners, Inc. announced plans to merge with SPACs. This combines with SuRo Capital portfolio company announcements made earlier in the year to represent a total of five SPAC mergers and two IPO announcements as of quarter-end. Additionally, during the third quarter, both Clever, Inc. and CUX, Inc. (d/b/a CorpU) were acquired. These major achievements by our portfolio companies represent both earned and significant upcoming opportunities to realize gains.” Klein continued, “Our investment pipeline remains robust. During the third quarter, we added seven new companies to our investment portfolio including Orchard Technologies, Inc., Varo Money, Inc., and PayJoy Inc., among others. We continue to be opportunistic in seeking out exciting high-growth companies.” As previously reported, SuRo Capital’s net assets totaled approximately $439.6 million, or $16.56 per share, at June 30, 2021 and approximately $252.7 million, or $12.46 per share, at September 30, 2020. As of September 30, 2021, SuRo Capital’s net asset value is estimated to be between...