Equus Total Return Inc Stock Price, News & Analysis

Equus Total Return, Inc. (NYSE: EQS) announced its third quarter net asset value (NAV) on November 14, 2022, reporting net assets of $36.2 million, down from $37.2 million in the previous quarter. The net asset value per share decreased to $2.68 from $2.75. The decline in net assets is attributed to increased professional fees for potential transformative transactions. Shareholders authorized the withdrawal of the company's business development company classification, potentially signaling a strategic shift.

Equus Total Return, Inc. (NYSE: EQS) reported net assets of $36.2 million and a decrease in net asset value per share to $2.68 as of September 30, 2022, down from $2.75 as of June 30, 2022. The company's portfolio investments did not change in fair value during the quarter. The decrease in net assets was attributed to increased professional fees and expenses for due diligence on potential transactions. Subsequently, shareholders authorized the withdrawal of the company’s business development company election, potentially transforming Equus into an operating company.

Equus Total Return, Inc. (NYSE: EQS) announced that shareholders, holding 53.01% of shares, authorized the withdrawal from its classification as a Business Development Company under the Investment Company Act of 1940. This is part of a strategic transformation to operate as an operating company, enabling potential mergers and acquisitions in sectors like oil and gas. The company plans to complete this withdrawal by February 28, 2023, contingent on a definitive acquisition agreement. Risks related to this transformation are noted, and the company emphasizes potential advantages from this operational shift.

Equus Total Return, Inc. (NYSE: EQS) reported net assets of $37.2 million as of June 30, 2022, a slight decrease from $37.4 million on March 31, 2022. The net asset value per share also dipped to $2.75 from $2.77. However, the fair value of its investment in Equus Energy rose from $15.0 million to $15.5 million during the second quarter. Additionally, crude oil prices increased by 5.46% and natural gas prices surged by 19.8%, potentially benefiting Equus's investments in the Permian Basin and Eagle Ford Shale.

Equus Total Return, Inc. (NYSE: EQS) held its Annual Meeting of Stockholders on June 9, 2022, with 82.27% shareholder participation. The meeting approved the election of five directors for one-year terms: Fraser Atkinson, Kenneth I. Denos, Henry W. Hankinson, John A. Hardy, and Robert L. Knauss. Additionally, the appointment of BDO USA, LLP as independent accountants for the fiscal year 2022 was ratified, receiving 90.1% approval. A non-binding advisory vote on executive compensation in 2021 also passed, with 87.0% support. Detailed voting results are available in the Company's Form 8-K.

Equus Total Return, Inc. (NYSE: EQS) reported net assets of $37.4 million as of March 31, 2022, marking an increase of approximately $1.0 million from December 31, 2021. The net asset value per share rose to $2.77, up from $2.69. Key drivers for this increase include a rise in the fair value of Equus Energy from $13.0 million to $15.0 million, bolstered by escalating crude oil prices, which increased from $75.33 to $100.28 per barrel, and natural gas prices rising from $3.82 to $5.46 per MMBTU during the same period.

Equus Total Return, Inc. (NYSE: EQS) reported an increase in net assets to $36.4 million as of December 31, 2021, representing a growth of $0.2 million since September 30, 2021. The net asset value per share rose slightly from $2.68 to $2.69. Key contributors to this growth included a significant increase in the fair value of Equus Energy, from $7.0 million to $13.0 million, and approximately $3.8 million in cash received from escrow related to the sale of PalletOne. The overall performance was bolstered by rising energy prices in the market.

Equus Total Return, Inc. (NYSE: EQS) reported a net asset value of $36.2 million as of September 30, 2021, a rise of $1.5 million since June 30, 2021. Net asset value per share increased to $2.68, up from $2.57 in the previous quarter. Key drivers for this growth included an increase in the fair value of Equus Energy from $10.25 million to $12 million, benefitting from rising crude and natural gas prices, and an additional $1.2 million received from the sale of PalletOne, exceeding prior expectations. The company continues to operate as a closed-end fund on the NYSE under the symbol "EQS."

Equus Total Return has received authorization from shareholders, holding 55.64% of common stock, to withdraw its election as a business development company (BDC) under the Investment Company Act of 1940. This strategic move aims to transform Equus into an operating company and enhances flexibility for future acquisitions. The withdrawal must occur by January 31, 2022, contingent on entering a definitive agreement for an operating company acquisition. However, challenges such as the COVID-19 pandemic could hinder these endeavors, introducing various risks and uncertainties.