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. reports news as a publicly traded investment fund and business development company focused on high-growth, venture-backed private companies. Its updates center on net asset value, portfolio fair-value changes, investment activity, liquidity from portfolio holdings, distributions and quarterly or annual operating results.
Company news also covers exposure categories such as AI infrastructure, emerging consumer brands and consumer and enterprise software, as well as investments made directly, through secondary transactions, investment funds or SPVs. Additional announcements address shareholder voting matters, material agreements, capital-structure items and governance developments affecting the fund and its publicly traded common stock.
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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.
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.