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 Corp. (Nasdaq: SSSS) reported a preliminary net asset value of $17.70 to $18.30 per share for Q1 2021, up from $15.14 at year-end 2020. This includes $0.50 per share in dividends. New investments include $10 million in pre-merger SPAC PIPEs and a sports betting subsidiary, SuRo Sports. The company also plans to redeem its 4.75% Convertible Senior Notes due 2023, with $0.3 million redeemed by March 31. Q1 highlights include the strong performance of Coursera post-IPO and a total of 32 portfolio companies in its investment portfolio.
SuRo Capital reported a net asset value (NAV) of $15.14 per share as of December 31, 2020, a significant increase from $12.46 per share at the end of Q3 2020. The Board of Directors declared a dividend of $0.25 per share. The company exited its position in Palantir Technologies, realizing $119 million in gains. SuRo Capital's top five investments accounted for 73% of its total portfolio value. The financial results revealed net investment loss of $14.5 million for 2020, but net realized gains stood at $16.4 million.
SuRo Capital Corp. (SSSS) will release its financial results for Q4 and fiscal year 2020 on March 10, 2021, after the 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. Interested parties can access the call via phone or through a live webcast on the company’s website, where a replay will be available for 12 months. SuRo Capital focuses on investing in high-growth, venture-backed private companies.
SuRo Capital Corp. (SSSS) announced an adjustment to its 4.75% Convertible Senior Notes due 2023, effective February 5, 2021. The conversion price has been reduced from $9.42 to $9.25 per share due to a cash dividend of $0.25 per share, payable on February 19, 2021. This adjustment allows for 108.0505 shares of common stock per $1,000 principal amount of Notes. The ex-dividend date is February 4, 2021, and the tax treatment of the dividend will be reported in 1099-DIV forms to stockholders.
SuRo Capital Corp. (Nasdaq: SSSS) has declared a cash dividend of $0.25 per share, scheduled for payment on February 19, 2021. This dividend is aimed at enhancing shareholder value and is associated with the company's strong portfolio performance. Stockholders on record as of February 5, 2021 will be eligible for this dividend, which will be reported as capital gains dividends for tax purposes. Future dividends are subject to the discretion of the Board.
SuRo Capital Corp. (Nasdaq: SSSS) reported an anticipated net asset value (NAV) increase to $15.00 to $15.50 per share, adjusted for $0.47 in dividends, up from $12.46 at September 30, 2020. This growth reflects a strong investment portfolio, including new investments in Blink Health Inc., Residential Homes for Rent, and follow-on investments in Enjoy Technology and GreenAcreage Real Estate Corp. As of December 31, 2020, net assets totaled approximately $252.7 million.
SuRo Capital Corp. (Nasdaq: SSSS) has announced an adjustment to the conversion rate of its 4.75% Convertible Senior Notes due 2023. As of December 30, 2020, the conversion price has been lowered to $9.42 per share from $9.58 due to a cash dividend of $0.22 per share payable on January 15, 2021. This change will allow holders to convert their notes into 106.1681 shares per $1,000 principal amount. The ex-dividend date was December 29, 2020. Future dividends will be determined by the Board of Directors and reported annually for tax purposes.
SuRo Capital has declared a dividend of $0.22 per share payable on January 15, 2021, to stockholders of record as of December 30, 2020. This decision follows continued monetization from public securities, particularly from Palantir Technologies Inc. sales. The dividend, along with previously declared dividends of $0.25 on November 30 and October 20, 2020, is characterized as capital gains dividends. SuRo Capital does not anticipate any taxable income for 2020, thus no dividends are expected to be ordinary.
SuRo Capital Corp. (SSSS) reported holding 4,618,952 restricted common shares of Palantir, representing 80% of its pre-IPO holdings. The company sold its remaining unrestricted shares after Q3 2020. SuRo's at-the-market offering is inactive, and it does not plan to issue shares below net asset value. An additional dividend is anticipated by year-end 2020. Recent dividends include $0.15 per share in August, and $0.25 per share in October and November. All dividends are fully taxable to stockholders, with details reported annually.
SuRo Capital Corp. (Nasdaq: SSSS) announced an adjustment to the conversion rate of its 4.75% Convertible Senior Notes due 2023, now set at $9.58 per share, down from $9.84. This adjustment is a result of the company’s cash dividend of $0.25 per share, payable on November 30, 2020. The ex-dividend date is November 9, 2020. Shareholders should note that dividends are fully taxable. Forward-looking statements address potential risks, including impacts from market volatility and the COVID-19 pandemic.