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Jun 30, 2023
SuRo Capital Q2 2023 Earnings Report
Reported financial results for the quarter ended June 30, 2023.
Key Takeaways
SuRo Capital Corp. announced its financial results for the quarter ended June 30, 2023. Net assets totaled approximately $186.7 million, or $7.35 per share. The company made five investments, three in new portfolio companies and two in follow-on investments. The Board of Directors authorized a $5.0 million expansion of the Share Repurchase Program to $60.0 million and an extension of the Share Repurchase Program through October 31st, 2024.
Net assets totaled approximately $186.7 million, or $7.35 per share, at June 30, 2023.
The company made five investments, three in new portfolio companies and two in follow-on investments.
Completed Modified Dutch Auction Tender Offer, purchasing 3.0 million shares of common stock for $4.50 per share.
Board of Directors authorized a $5.0 million expansion of the Share Repurchase Program to $60.0 million and an extension of the Share Repurchase Program through October 31st, 2024.
Forward Guidance
Looking ahead, the company believes the combination of being strategically opportunistic during times of volatility, along with over $100.0 million of investable capital as of quarter-end, will allow it to seize unique opportunities with high potential returns.
Positive Outlook
- Strategically opportunistic during times of volatility.
- Over $100.0 million of investable capital as of quarter-end.
- Ability to seize unique opportunities with high potential returns.
- Improving market conditions
- Early signs of recovery in the private markets
Challenges Ahead
- Impact of any market volatility that may be detrimental to our business.
- Risks related to our portfolio companies.
- Risks related to our industry.
- Risks related to the global economy.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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