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.
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.
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.