SuRo Capital Corp (NAS:SSSS)
$ 3.83 -0.04 (-1.03%) Market Cap: 89.54 Mil Enterprise Value: 109.08 Mil PE Ratio: 0 PB Ratio: 0.55 GF Score: 46/100
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Q2 2024 SuRo Capital Corp Earnings Call Transcript

Aug 07, 2024 / 09:00PM GMT
Release Date Price: $3.8 (+0.08%)

Key Points

Positve
  • SuRo Capital Corp (SSSS) reported a net asset value (NAV) of $162.3 million or $6.94 per share for Q2 2024.
  • The company made significant investments in high-growth technology companies such as CoreWeave and Canva.
  • SuRo Capital Corp (SSSS) has a strong cash position with approximately $54.4 million available for investment.
  • The company announced a $35 million note repurchase program and a $75 million convertible note issuance, signaling confidence in its financial stability.
  • SuRo Capital Corp (SSSS) successfully completed a modified Dutch auction tender offer, repurchasing 2 million shares at $4.70 per share, enhancing shareholder value.
Negative
  • The NAV per share decreased from $7.17 in Q1 to $6.94 in Q2, indicating a decline in portfolio value.
  • The company experienced unrealized depreciation of portfolio investments, contributing to a $0.30 per share decrease in NAV.
  • SuRo Capital Corp (SSSS) reported a net investment loss, resulting in a $0.16 per share decrease in NAV.
  • Market volatility and weak economic data have created an uncertain investment environment.
  • The company’s stock continues to trade at a significant discount to its net asset value per share.
Operator

Hello. And welcome to SuRo Capital's second-quarter 2024 earnings call. My name is Melissa. And I will be your coordinator for today's event. Please note, this conference is being recorded. (Operator Instructions)

I'll now turn the call over to Evan Schlossman. Please go ahead.

Evan Schlossman
SuRo Capital Corp - Investments

Thank you for joining us on today's call. I'm joined today by the Chairman and Chief Executive Officer of SuRo Capital, Mark Klein; and Chief Financial Officer, Allison Green.

Please note that a slide presentation corresponding to today's prepared remarks by management is available on our website at www.surocap.com under Investor Relations, Events and Presentations. Today's call is being recorded and broadcast live on our website, www.surocap.com. Replay information is included in our press release issued today. This call is the property of SuRo Capital and the unauthorized reproduction of this

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