SuRo Capital Q2 2021 Earnings Report
Key Takeaways
SuRo Capital Corp. reported its financial results for the quarter ended June 30, 2021. The company's net assets totaled approximately $439.6 million, or $16.56 per share, inclusive of dividends totaling $2.50 per share declared and paid during the second quarter. The Board of Directors declared a $2.25 per share dividend payable on September 30th.
Net Asset Value of $16.56 Per Share as of June 30, 2021, inclusive of dividends totaling $2.50 per share declared and paid during the second quarter.
Reached its highest dividend-adjusted NAV since inception.
New investments in SPAC founder shares, such as our $2.7 million investment in Colombier Sponsor LLC and our $0.3 million investment in AltC Sponsor LLC, bring our aggregate SPAC founder share investment size to $3.5 million.
Board of Directors declared a $2.25 per share dividend to shareholders.
SuRo Capital
SuRo Capital
Forward Guidance
The company anticipates long-term value to stakeholders from SPAC mergers and IPO filings.
Positive Outlook
- SPAC mergers within portfolio, including the closing of Rover, Inc.’s merger with Nebula Caravel Acquisition Corp
- Merger announcements from Nextdoor, Inc. and Enjoy Technology, Inc.
- Announcements of Rent the Runway, Inc.’s and NewLake Capital Partners, Inc.’s IPO filings
- Offering shareholders the option to elect to take as much as 100% of their dividend in stock
- Capped the aggregate cash dividend to 50% of the total dividend payable
Challenges Ahead
- Impact of the COVID-19 pandemic
- Market volatility that may be detrimental to our business
- Market volatility that may be detrimental to our portfolio companies
- Market volatility that may be detrimental to our industry
- Market volatility that may be detrimental to the global economy