Welcome to our dedicated page for SuRo Capital news (Ticker: SSSS), a resource for investors and traders seeking the latest updates and insights on SuRo Capital stock.
SuRo Capital Corp. (NASDAQ: SSSS) is a publicly traded investment fund that focuses on maximizing total returns primarily through capital gains on equity and equity-related investments. As a non-diversified closed-end management investment company, SuRo Capital is dedicated to investing in high-growth, venture-backed private companies, offering investors access to a portfolio of these emerging businesses through its common stock.
Headquartered in New York, NY, with offices in San Francisco, CA, SuRo Capital employs a disciplined investment approach to build a diverse portfolio. Recent achievements include maintaining a Net Asset Value (NAV) of $8.41 per share as of September 30, 2023, and actively managing investments in leading companies such as Nextdoor Holdings, Inc. and PSQ Holdings, Inc. Significant activities in the third quarter of 2023 included receiving $0.3 million from Residential Homes for Rent, LLC for a 15% term loan repayment.
SuRo Capital continuously reviews and adjusts its portfolio, with notable transactions such as the repurchase of 186,493 shares of its common stock for approximately $0.7 million. The company also executed a Modified Dutch Auction Tender Offer to repurchase 2 million shares at a price between $4.00 and $5.00 each, with the most recent offer repurchasing shares at $4.70 per share.
Looking ahead, SuRo Capital anticipates its NAV to range between $7.85 and $8.35 per share by year-end 2023. The company remains committed to creating value for its shareholders through strategic investments, share repurchase programs, and ongoing portfolio management. For the latest updates and additional information, investors can connect with SuRo Capital on social media platforms such as X and LinkedIn or visit their official website at www.surocap.com.
SuRo Capital Corp. (Nasdaq: SSSS) reported its Q3 2024 financial results, highlighting a Net Asset Value (NAV) of $6.73 per share, down from $6.94 per share in Q2 2024 and $8.41 per share in Q3 2023. Net assets totaled $157.4 million.
The company continues to advance its AI strategy with significant investments, including $17.5 million in OpenAI and $5 million in CoreWeave. Post-quarter, it further invested $12 million in VAST and another $5 million in CoreWeave.
SuRo Capital's portfolio, valued at $199.3 million, includes 37 companies, with the top five investments accounting for 47% of the total portfolio value. The top five investments are CoreWeave ($23.1M), Learneo ($20.8M), ARK Type One Deep Ventures Fund ($17.7M), Blink Health ($17.4M), and ServiceTitan ($15.3M).
Financial results show a net investment loss of $3.2 million ($0.14 per share) and a net realized loss on investments of $13.7 million ($0.59 per share). The company has liquid assets of $39.5 million.
SuRo Capital also announced a $75 million Convertible Note Purchase Agreement and repurchased $30 million in convertible notes, with a share repurchase program extended to 2025.
SuRo Capital Corp. (Nasdaq: SSSS) has announced it will release its third quarter 2024 financial results after U.S. market close on Thursday, November 7, 2024. The company will host a conference call and webcast for investors at 2:00 p.m. PT (5:00 p.m. ET). U.S. participants can access the call at 866-580-3963, while international participants can dial +1 786-697-3501, using conference ID 9289675. A live webcast will be available on SuRo Capital's website, with a replay accessible for 12 months. The conference call replay will be available until November 14, 2024.
SuRo Capital Corp. (Nasdaq: SSSS) provided a preliminary update on its investment portfolio for Q3 2024. The company has been actively investing in AI infrastructure, with nearly $55.0 million invested in leading AI companies. Key investments include:
- $17.5 million in OpenAI via ARK Type One Deep Ventures Fund
- $5.0 million in CoreWeave via secondary transaction
- $12.0 million in VAST Data via IH10, (post-quarter)
- Additional $5.0 million in CoreWeave (post-quarter)
SuRo Capital's net asset value is estimated to be between $6.50 to $7.00 per share as of September 30, 2024. The company also approved a repurchase program of up to $35.0 million for its 6.00% Notes due 2026 and the issuance of up to $75.0 million of private 6.50% Convertible Notes due 2029.
SuRo Capital Corp. (Nasdaq: SSSS) reported its Q2 2024 financial results with a net asset value of $6.94 per share as of June 30, 2024. The company announced:
1. A purchase agreement for 6.50% Convertible Notes due 2029
2. Board approval for a note repurchase program up to $35.0 million
3. Completion of a $10.0 million investment in Canva, Inc. and a $15.0 million investment in CW Opportunity 2 LP
4. A net decrease in net assets of $19.4 million or $0.23 per share
5. Liquid assets of approximately $57.6 million as of June 30, 2024
The company remains optimistic about its investment pipeline with nearly $55.0 million in investable capital.
SuRo Capital Corp. (Nasdaq: SSSS) has announced it will release its second quarter 2024 financial results on Wednesday, August 7, 2024, after the U.S. market closes. The company will host a conference call and webcast for investors at 2:00 p.m. PT (5:00 p.m. ET) on the same day. U.S. participants can access the call at 866-580-3963, while international participants should dial +1 786-697-3501, using the conference ID 6397974. A live webcast will be available on SuRo Capital's website, with an archived replay accessible for 12 months. A replay of the call will be available until August 14, 2024.
SuRo Capital Corp. (NASDAQ: SSSS) provided a preliminary update on its investment portfolio for Q2 2024, projecting a net asset value (NAV) of $6.70 to $7.20 per share. The company made a $10 million investment in Canva, Inc. and a $15 million investment in CW Opportunity 2 LP during the quarter. SuRo Capital repurchased 2 million shares at $4.70 each through a Modified Dutch Auction Tender Offer, representing 7.9% of its outstanding shares. The company's liquid assets totaled approximately $57.6 million by June 30, 2024.
SuRo Capital's NAV per share was $7.17 as of March 31, 2024, and estimated at $6.70 to $7.20 as of June 30, 2024. The company held positions in 39 portfolio companies, with nearly $55 million in investable capital and $20.7 million authorized for share repurchases under its Share Repurchase Program. SuRo Capital plans to announce its full Q2 2024 results in August 2024.
SuRo Capital Corp. reported a net asset value of $7.17 per share as of March 31, 2024. The company made $35 million in new investments year-to-date, deployed capital in various new portfolio companies, and conducted a modified Dutch Auction tender offer to repurchase 2.0 million shares of common stock. SuRo Capital continues to focus on enhancing shareholder value and believes the market undervalues its portfolio.
SuRo Capital Corp. will report its financial results for the quarter ended March 31, 2024 on May 8, 2024. A conference call and webcast for investors will be held at 2:00 p.m. PT (5:00 p.m. ET). The call can be accessed via phone or webcast, with a replay available for 12 months.
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