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. has declared a dividend of $0.25 per share, payable on October 20, 2020, to stockholders on record by October 5, 2020. This cash dividend is attributed to year-to-date monetizations of private securities. The company anticipates declaring an additional dividend by year-end. Moreover, dividends are expected to be treated as capital gains, not ordinary dividends, due to the absence of investment company taxable income for this year. The actual tax characteristics of the dividends will be reported after the year-end.
SuRo Capital Corp. (Nasdaq:SSSS) announced a dividend of $0.25 per share payable on October 20, 2020, with a record date of October 5, 2020. This payment comes from year-to-date monetizations in its private securities, with expectations of additional dividends by year-end based on continuing portfolio activity. The dividend will be treated as a capital gains dividend, not ordinary income, due to anticipated lack of taxable income this year. All tax characteristics will be confirmed post fiscal year-end.
SuRo Capital Corp (Nasdaq: SSSS) announced a conversion rate adjustment for its 4.75% Convertible Senior Notes due 2023, influenced by a planned cash dividend of $0.15 per share. Effective August 11, 2020, the conversion price is set at $10.10 per share, down from $10.21. Stockholders of record by August 11 will receive the dividend on August 25, 2020. The tax implications of the dividend will be revealed after year-end and reported on Form 1099-DIV. The company advises caution regarding its forward-looking statements due to potential market volatility.
SuRo Capital Corp. (Nasdaq:SSSS) reported its financial results for Q2 2020, highlighting a net asset value (NAV) of $192.7 million, or $11.84 per share, up from $10.22 per share in Q1 2020. The company declared a dividend of $0.15 per share on July 29, 2020. Significant new investments included $5 million in Rent the Runway and $6.9 million in Palantir Lending Trust. Top portfolio investments accounted for 68% of total fair value, with Coursera being the largest holding at $49.9 million. The quarter saw an increase in NAV per share by $1.62.
SuRo Capital Corp. (Nasdaq: SSSS) released a preliminary update on its investment portfolio for Q2 2020, revealing a net asset value (NAV) estimate of $11.70-$12.00 per share, an increase from $10.22 per share at the end of Q1 2020. The company has invested in Lime, Rent the Runway, and Palantir Lending SPV, with a total of $12.4 million invested during the quarter. SuRo Capital holds positions in 24 privately-held companies. Another update is expected during the earnings call scheduled for August 3, 2020.
SuRo Capital Corp. (Nasdaq:SSSS) announced a name change from Sutter Rock Capital Corp. due to a trademark infringement lawsuit from Sutter Hill Ventures. The lawsuit sought an injunction against the use of the SUTTER ROCK name and significant damages. To avoid potential legal costs estimated at $1 million, SuRo Capital's board opted for a settlement and name change, believing it wouldn't affect shareholder returns. SuRo focuses on high-growth venture-backed companies, aiming to provide returns through its publicly traded stock.
Sutter Rock Capital Corp. (Nasdaq: SSSS) announced a name change to SuRo Capital Corp., effective July 22, 2020. The company is a publicly traded investment fund focusing on high-growth, venture-backed private companies. Sutter Rock seeks to build a portfolio through a disciplined investment approach, providing investors access to these emerging private companies via its common stock. Headquartered in San Francisco, CA, Sutter Rock aims to deliver significant growth opportunities to its shareholders.
Sutter Rock Capital Corp. (Nasdaq: SSSS) has transitioned its 2020 Annual Meeting of Stockholders to a virtual format due to COVID-19. Scheduled for June 19, 2020, at 2:00 p.m. Eastern Time, stockholders can participate online, ensuring equal rights as in-person attendance. Access to the meeting will be available on the designated website approximately 30 minutes before the start time. Stockholders of record as of April 15, 2020, are entitled to vote during the meeting, with details accessible through previously distributed proxy materials.
Sutter Rock Capital Corp. (Nasdaq:SSSS) reported a net asset value (NAV) of approximately $172.5 million or $10.22 per share for Q1 2020, down from $11.38 per share at year-end 2019. Despite challenges from the COVID-19 pandemic, the company remains focused on investing in high-growth private companies. Key investments include Coursera and Palantir Technologies, making up 69% of its portfolio. The company exited its position in Parchment, realizing a gain of $6.9 million. Additionally, it repurchased shares totaling $3.7 million during the quarter.
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