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. (SSSS) announced the completion of its modified Dutch Auction tender offer, repurchasing 3 million shares at $4.50 each, representing 10.6% of outstanding shares. The offer expired on April 17, 2023, and the shares will be repurchased using available cash, with payment expected around April 21, 2023. The repurchase price reflects 60.9% of the net asset value per share as of December 31, 2022. The final proration factor is approximately 99.1%, indicating strong interest in the tender offer. The information agent for the offer is D.F. King & Co., while American Stock Transfer & Trust Company served as the depositary.
SuRo Capital has announced a preliminary update on its investment portfolio for Q1 2023, with an anticipated net asset value (NAV) of $7.35 to $7.85 per share. The modified Dutch Auction tender offer is set to expire on April 17, 2023, with plans to purchase up to 3 million shares at prices between $3.00 and $4.50. As of March 31, 2023, SuRo Capital holds approximately $124 million in investable capital and has assets totaling around $210 million. The company aims to enhance shareholder value amidst market volatility. The NAV per share reflects a decline from $12.22 in March 2022 and $7.39 at the end of 2022. The company has made follow-on investments and recorded losses on certain exits. This update is ahead of their full Q1 results expected in May 2023.
SuRo Capital Corp. (SSSS) announced the initiation of a modified "Dutch Auction" tender offer on March 17, 2023, to repurchase up to 3 million shares of its common stock priced between $3.00 and $4.50 per share. This represents approximately 10.6% of the company's outstanding shares. The tender offer, aimed at enhancing shareholder value amid a perceived undervaluation of its portfolio, will commence on March 21, 2023, and expire on April 17, 2023. By deploying capital effectively, the company seeks to address its stock's significant discount to net asset value during current market volatility.
SuRo Capital (SSSS) announced its financial results for the fourth quarter and fiscal year ended December 31, 2022. The Net Asset Value (NAV) decreased to $7.39 per share from $11.72 a year ago. As of December 31, 2022, total net assets were approximately $210 million. Despite recent bank failures, SuRo Capital maintained minimal exposure and has $125 million for future investments. The company made a $10 million investment in Locus Robotics during Q4 2022. However, net investment loss for the quarter was $2.9 million, with a significant unrealized depreciation on investments of $111.6 million for the full year.
SuRo Capital Corp. (Nasdaq: SSSS) will announce its financial results for the quarter and fiscal year ending December 31, 2022, after U.S. market close on March 15, 2023. A conference call and webcast will be held at 2:00 p.m. PT (5:00 p.m. ET) to discuss these results. Participants can access the call via specific U.S. and international numbers, and a live webcast will be available on the company's website, with an archived replay accessible for up to 12 months. SuRo Capital focuses on investing in high-growth, venture-backed private companies and aims to provide investors with access to these opportunities through its publicly traded stock.
SuRo Capital Corp. (Nasdaq: SSSS) provides a preliminary update on its investment portfolio for Q4 and FY 2022, anticipating a net asset value (NAV) of $7.15 to $7.65 per share. In 2022, the company faced significant market challenges but ended the year with approximately $125 million in investable capital. Notable investments included a $10 million primary investment in Locus Robotics Corp.. At the end of 2022, net assets were approximately $221.8 million, down from $364.8 million a year prior. SuRo Capital plans to announce detailed results in March 2023.
SuRo Capital Corp. (Nasdaq: SSSS) reported a net asset value of $7.83 per share and total net assets of approximately $221.8 million as of September 30, 2022, down from $9.24 per share in June 2022. The company faced significant challenges in the equity and IPO markets, with fewer than 40 IPOs in Q3 2022. Despite this, SuRo Capital sees opportunities in the secondary market and remains committed to shareholder value through its active Share Repurchase Program, having repurchased over 3.0 million shares year-to-date.
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