Suro Capital Corp. · NASDAQ:SSSS
Suro Capital — Sutter Rock Capital — Q4 2019 Earnings Presentation
9 slides from Suro Capital's earnings presentation, Mar 12, 2020
Slide 1: Q4 & FYE 2019 Earnings Call
Q4 & FYE 2019 Earnings Call March 11, 2020
Slide 2: Forward Looking Statements
2 Forward Looking Statements Statements included herein, including statements regarding Sutter Rock Capital's beliefs, expectations, intentions or strategies for the future, may constitute "forward - looking statements" . Sutter Rock Capital cautions you that forward - looking statements are not gua
Slide 3: 4th Quarter 2019 NAV
3 4 th Quarter 2019 NAV Fourth Quarter 2019 NAV Per Share of $11.38 $ 9.99 $10.46 $10.58 $9.89 $10.75 $10.75 $11.24 $11.38 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19
Slide 4: Key Shareholder Initiatives
Key Shareholder Initiatives 4 Fourth Quarter 2019 Shareholder Distributions Declared a $ 0 . 20 per share dividend on November 5 , 2019 Declared a $ 0 . 12 per share dividend on December 20 , 2019 The distributions were driven by the liquidation of Sutter Rock Capital’s public securities and
Slide 5: Share Repurchase Program
5 Share Repurchase Program Fourth Quarter 2019 Since commencement of the Share Repurchase Program in August 2017, Sutter Rock Capital has repurchased approximately 15% of its then - outstanding shares (2) Period Shares Repurchased Cash Used Allocation Remaining 2017 Total Repurchases 934,658 $4.9 $5
Slide 6: Top Positions
Top 5 Positions = 61 % of Total Investment Portfolio at Fair Value Based on Total Investment P ortfolio Fair V alue of $ 191.6 million 6 Fourth Quarter 2019 Fair Value ($ in millions) % of Investment Portfolio 1 $33.6 17.5% 2 $31.6 16.5% 3 $25.7 13.4% 4 $15.7 8.2% 5 $10.9 5.7% $117.4 61.3% • Sutter
Slide 7: Key Investment Themes
43.1% 12.2% 16.5% 14.0% 13.8% Key Investment Themes As a Percentage of Total Investment Portfolio at Fair Value as of 12/31/19 Fourth Quarter 2019 Note: Sustainability investment theme accounted for 0.4% of Total Investment Portfolio in the fourth quarter . 7 ($ in millions) (1) Sustainability inves
Slide 8: Investment Portfolio Activity – Exits
Investment Portfolio Activity – Exits Net Realized Gain For Q4 of Approximately $8.0 million (1) Weighted average price per share, net of fees. (2) Proceeds net of fees. (3) Proceeds do not include approximately $0.1 million of additional proceeds held in escrow . Lyft • At the end of Q3 2019, Sutte
Slide 9: Financial Highlights For the Quarter and Fiscal Year Ended December 31, 2019
Dollars ($ in millions) Per Share $195.4 $9.89 ($9.5) ($0.49) $19.2 $0.99 $14.2 $0.74 ($5.6) ($0.32) ($14.8) $0.52 $1.0 $0.05 $199.9 $11.38 Dollars ($ in millions) Per Share Net Assets at Beginning of Period $213.9 $11.24 Net Investment Loss ($2.6) ($0.14) Net Realized Gain on Investments $7.9 $0.43