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 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.
SuRo Capital Corp. (SSSS) announced it will report Q3 2022 financial results on November 8, 2022, after U.S. market close. A conference call will take place at 2:00 p.m. PT (5:00 p.m. ET), with access numbers provided for U.S. and international participants. The call will also be available via a live webcast on SuRo Capital's website. An archived replay will be accessible for 12 months after the event. SuRo Capital is focused on investing in high-growth, venture-backed private companies, aiming to create an accessible portfolio for its investors.
SuRo Capital Corp. (SSSS) announced a preliminary update on its third quarter investment portfolio, estimating a net asset value (NAV) per share between $7.55 and $8.05. This marks a decrease from $9.24 on June 30, 2022. The macroeconomic environment has posed challenges, but the company retains approximately $140 million in cash for future investments. During Q3, SuRo added XGroup Holdings Limited to its portfolio and invested in Orchard Technologies. The company executed a Modified Dutch Auction Tender Offer, repurchasing 2 million shares at $6.60 each, contributing to shareholder value enhancement initiatives.
SuRo Capital Corp. (SSSS) announced the results of its modified Dutch Auction Tender Offer, concluding on September 2, 2022. The company will repurchase 2 million shares, representing 6.6% of outstanding shares, at a price of $6.60 each on a pro-rata basis. This purchase price reflects 71.4% of the net asset value (NAV) per share as of June 30, 2022. The repurchase will utilize a part of SuRo Capital's cash reserves, with payment expected around September 12, 2022. The final proration factor for the tender offer is approximately 75.0%. Further details can be sought from the information agent.
SuRo Capital Corp. has concluded a modified Dutch Auction Tender Offer to repurchase 2 million shares at $6.60 each, representing 6.6% of its outstanding shares. The Tender Offer expired on September 2, 2022, and the purchase price reflects 71.4% of the net asset value per share as of June 30, 2022. The repurchase will be funded using available cash, with payment expected around September 12, 2022. The proration factor for shares tendered was approximately 66.7%.
SuRo Capital Corp. (SSSS) announced a modified Dutch Auction Tender Offer to repurchase up to 2 million shares of its common stock priced between $6.00 and $7.00 per share. This initiative aims to enhance shareholder value and will end on September 2, 2022. If fully subscribed, the offer will account for approximately 6.60% of outstanding shares. Stockholders can withdraw shares before the offer's expiration, and the Board may consider future offers depending on market conditions. The Tender Offer is not contingent on a minimum number of shares being tendered.
SuRo Capital Corp. (Nasdaq: SSSS) reported a net asset value of $9.24 per share as of June 30, 2022, down from $12.22 per share in March 2022 and $16.56 per share in June 2021. The company experienced a net investment loss of $3.8 million and a significant reduction in net assets by $94.3 million during the quarter. A modified Dutch Auction Tender Offer will commence on August 8, 2022, to buy back up to 2 million shares at $6.00 to $7.00 each. SuRo maintains over $150 million in cash, indicating a readiness to capitalize on future investment opportunities.
SuRo Capital Corp. (Nasdaq: SSSS) is set to release its financial results for the quarter ending June 30, 2022, on August 3, 2022, after U.S. market close. A conference call for investors will take place at 2:00 p.m. PT (5:00 p.m. ET) on the same day, with participation details provided. The company focuses on investing in high-growth, venture-backed private companies, aiming to build a diverse portfolio while offering public access through its stock. The firm is headquartered in New York with an office in San Francisco.
SuRo Capital Corp. (SSSS) announced a preliminary update on its investment portfolio for Q2 2022, citing a projected net asset value (NAV) of $9.00 to $9.50 per share, down from $12.22 per share in Q1 2022 and $16.56 in Q2 2021. The company has maintained over 40% of its assets in cash, navigating a challenging market and capitalizing on investment opportunities, including new stakes in Whoop, Inc. and EDGE Markets, Inc. A share repurchase program has also been expanded, with over 1 million shares repurchased for around $8.3 million since March 2022.
SuRo Capital Corp. (SSSS) reported a net asset value (NAV) of $12.22 per share as of March 31, 2022, reflecting a rise from $11.72 per share at December 31, 2021, but down from $18.01 per share a year prior. The company declared $0.11 per share in dividends and repurchased over 580,000 shares worth approximately $5 million as part of its $55 million share repurchase program. Despite market volatility, SuRo maintains a conservative capital deployment approach and holds $170 million in investable funds.
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