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) has announced a preliminary estimate of its net asset value (NAV) for Q1 2022, anticipated to be between $11.85 and $12.55 per share, reflecting the impact of a $0.11 dividend. This compares to a NAV of $11.72 per share as of December 31, 2021. The company has repurchased over 280,000 shares for approximately $2.4 million amid significant market volatility, with an expanded share repurchase program of $55 million authorized. Q1 results are expected to be released in early May 2022.
SuRo Capital Corp. has authorized an additional $15 million for its Share Repurchase Program, raising the total to $55 million since the program began in August 2017. Currently, approximately $25 million remains available for repurchase until October 31, 2022. This decision comes as the company sees its stock trading at a significant discount relative to its net asset value, signaling the board's commitment to enhancing shareholder value through effective capital deployment.
SuRo Capital Corp. (SSSS) reported its financial results for 2021, announcing a Net Asset Value (NAV) of $11.72 per share as of December 31, 2021. The Board declared a $0.11 cash dividend for April 2022, contributing to total distributions of $8.00 per share for the year. The company realized $218.7 million in net gains on investments and distributed over $212 million to shareholders. However, net investment losses were approximately $(9.9 million). The firm raised $75 million through non-convertible debts, enhancing its investment capacity.
SuRo Capital Corp. (Nasdaq: SSSS) will announce its financial results for the quarter and fiscal year ending December 31, 2021, on March 9, 2022, after U.S. market close. A conference call for investors is scheduled for 2:00 p.m. PT (5:00 p.m. ET) on the same day, with U.S. participants using access number 323-701-0160. An international access number is also provided. Investors can listen live through the company's website and a recorded replay will be available for 12 months.
SuRo Capital Corp. (SSSS) reported a preliminary net asset value (NAV) of $11.25 to $12.00 per share for Q4 and fiscal year 2021, down from $14.79 per share as of September 30, 2021. This decrease is attributed to $2.75 in dividends declared in Q4, contributing to a total of $8.00 in dividends for the year, marking a record in shareholder returns. The company monetized $250.0 million in investments and raised $75.0 million in notes. SuRo Capital aims to leverage a robust pipeline with over $170.0 million in investable capital. Q4 results are expected to be released in March 2022.
SuRo Capital Corp. (SSSS) announced a cash dividend of $0.75 per share, payable on January 14, 2022, to stockholders recorded by December 31, 2021. This brings the total declared dividends for 2021 to $8.00 per share, amounting to over $210 million in total distributions. The dividends are expected to be taxed as long-term capital gains. CEO Mark Klein highlighted 2021 as the most successful year for shareholder returns in the company's history and expressed optimism about future transactions and the upcoming 2022 dividend strategy.
SuRo Capital Corp. (Nasdaq: SSSS) has priced a registered public offering of $70 million in 6.00% Notes due 2026, aiming for net proceeds of approximately $67.46 million. The offering is set to close on December 17, 2021, with the notes maturing on December 30, 2026, and interest payable quarterly starting March 30, 2022. The funds will support investments in portfolio companies and general corporate purposes. The company has a 30-day option for underwriters to purchase an additional $10.5 million in notes. Listing of the notes on Nasdaq is anticipated.
SuRo Capital Corp. (Nasdaq: SSSS) has announced the commencement of an underwritten offering of unsecured notes, subject to market conditions. The terms, including the interest rate, will be confirmed at pricing. The Company plans to grant underwriters a 30-day option to purchase additional notes for overallotments. The notes are expected to trade on The Nasdaq Global Market under the symbol SSSSL, pending approval. Proceeds from the offering will be used for investments in portfolio companies and general corporate purposes.
SuRo Capital Corp. reported a Net Asset Value (NAV) of $14.79 per share as of September 30, 2021, down from $16.56 at June 30, 2021. The company declared a $2.00 per share dividend payable on December 30, 2021, bringing total dividends for 2021 to $7.25 per share. The firm maintained a diversified portfolio with investments in 39 companies valued at approximately $315.8 million. Notably, SuRo completed four SPAC mergers and announced several IPOs, enhancing shareholder value. However, net investment loss was reported at $2.2 million for the quarter.
SuRo Capital Corp. (Nasdaq: SSSS) will release its financial results for Q3 2021 on November 3, 2021, post-market close. A conference call for investors is scheduled for 2:00 p.m. PT (5:00 p.m. ET) on the same day. The call can be accessed via U.S. dial-in at 323-794-2423 or international dial-in at 800-289-0438 using conference ID 7302661. A live webcast will also be available through SuRo Capital’s website, with an archived replay lasting for 12 months.
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