Investments

SuRo Capital Corp. Second Quarter Preliminary Funding

SAN FRANCISCO, July 14, 2021 (GLOBE NEWSWIRE) — SuRo Capital Corp. (“SuRo Capital”, the “Firm”, “we”, “us”, and “our”) (Nasdaq: SSSS) as we speak offered the next preliminary replace on its funding portfolio for the second quarter ended June 30, 2021.

“As we’ve accomplished over the previous a number of quarters, we want to present an replace on the continuing exercise in our funding portfolio and a preliminary quarter-end replace for our shareholders. Based mostly on data presently accessible, for the quarter ended June 30, 2021, we anticipate SuRo Capital’s web asset worth to be roughly $16.50 to $17.00 per share, inclusive of the results of $2.50 per share of dividends declared and paid through the quarter. This represents our highest dividend-adjusted web asset worth per share since inception,” mentioned Mark Klein, Chairman and Chief Government Officer of SuRo Capital. “Throughout the second quarter, we made new fairness investments in Skillsoft Corp. and Trax Ltd. along with follow-on investments in Architect Capital PayJoy SPV, LLC and Blink Well being, Inc.”

Klein continued, “Consistent with our beforehand mentioned technique to put money into pre-merger SPAC PIPEs and SPAC founder shares, we additionally made a $2.7 million funding in Colombier Sponsor LLC and retained two board seats as a part of the transaction. We proceed to guage thrilling alternatives throughout the SPAC market and imagine our proprietary entry throughout the SPAC universe has delivered, and can proceed to floor, distinctive alternatives for SuRo Capital.”

As beforehand reported, SuRo Capital’s web belongings totaled roughly $436.0 million, or $18.01 per share, at March 31, 2021 and roughly $192.7 million, or $11.84 per share, at June 30, 2020. As of June 30, 2021, SuRo Capital’s web asset worth is estimated to be between $16.50 and $17.00 per share. This vary features a customary low cost to the quarter-end pricing of investments in public widespread shares, as these shares had been topic to sure lock up provisions at quarter-end.

As of June 30, 2021, there have been 26,540,743 shares of the Firm’s widespread inventory excellent.

Funding Portfolio Replace

At June 30, 2021, SuRo Capital held positions in 34 portfolio firms – all privately-held except Coursera, Inc and Skillsoft Corp.

Throughout the three months ended June 30, 2021, SuRo Capital made the next new investments:

Portfolio Firm Funding Transaction Date Quantity
Colombier Sponsor LLC(1) Widespread Share Items & Warrant Items Numerous $2.7 million
Skillsoft Corp. Widespread Shares 6/8/2021 $10.0 million
Trax Ltd. Bizarre Shares & Investec Shares 6/9/2021 $10.0 million

(1) Colombier Sponsor LLC is the sponsor of Colombier Acquisition Corp., a particular function acquisition firm fashioned for the aim of effecting a merger, capital inventory alternate, asset acquisition, inventory buy, reorganization, or comparable enterprise mixture with a number of companies.

Throughout the three months ended June 30, 2021, SuRo Capital funded the next follow-on investments:

Portfolio Firm Funding Transaction Date Quantity
Architect Capital PayJoy SPV, LLC Membership Curiosity in Lending SPV Numerous $2.1 million(1)
Blink Well being Inc. Sequence C Most popular Shares 6/28/2021 $5.0 million

(1) As of June 30, 2021, $2.6 million of a $10.0 million capital dedication to Architect Capital PayJoy SPV LLC had been referred to as and funded.

Throughout the three months ended June 30, 2021, SuRo Capital exited or acquired proceeds from the next investments:

Portfolio Firm Transaction Date Shares Offered Common Web Share Worth(1) Web Proceeds to SuRo Realized Acquire
Coursera, Inc. Numerous 782,090 $39.29 $30.7 million $26.9 million
Palantir Lending Belief SPV I Numerous N/A N/A $0.2 million(2) $0.2 million(2)
Residential Properties For Hire, LLC d/b/a Second Avenue Numerous N/A N/A $0.3 million(3) $-(3)
SP Holdings Group, Inc. 4/29/2021 2,542,587 $0.19 $0.5 million $0.5 million

(1) The typical web share worth is the online share worth realized after deducting all commissions and costs on the sale(s), if relevant.
(2) Throughout the quarter ended June 30, 2021, 100,000 of the Class A standard shares of Palantir Applied sciences, Inc. that comprised the helpful fairness curiosity in underlying shares had been bought. As of June 30, 2021, 612,290 unrestricted Class A standard shares stay in Palantir Lending Belief SPV I. The realized acquire from SuRo Capital’s funding in Palantir Lending Belief SPV I is generated by the proceeds from the sale of shares collateralizing the repaid promissory observe to Palantir Lending Belief SPV I and attributable to the Fairness Participation in Underlying Collateral.
(3) As of June 30, 2021, $0.7 million has been acquired from Residential Properties For Hire, LLC d/b/a Second Avenue associated to the 15% time period mortgage due December 23, 2023. Of the proceeds acquired, $0.5 million repaid a portion of the excellent principal and $0.2 million was attributed to curiosity.

Subsequent to quarter-end, via July 14, 2021, SuRo Capital funded the next investments:

Portfolio Firm Funding Transaction Date Quantity
Architect Capital PayJoy SPV, LLC Membership Curiosity in Lending SPV 7/9/2021 $0.4 million(1)
AltC Sponsor LLC Widespread Share Items 7/14/2021(2) $0.3 million(2)

(1) As of July 14, 2021, $3.0 million of a $10.0 million capital dedication to Architect Capital PayJoy SPV LLC had been referred to as and funded.
(2) Anticipated date of funding. AltC Sponsor LLC is the sponsor of AltC Acquisition Corp., a particular function acquisition firm fashioned for the aim of effecting a merger, capital inventory alternate, asset acquisition, inventory buy, reorganization, or comparable enterprise mixture with a number of companies.

Preliminary Estimates and Steerage

The preliminary monetary estimates offered herein are unaudited and have been ready by, and are the accountability of, the administration of SuRo Capital. Neither our unbiased registered public accounting agency, nor every other unbiased accountants, have audited, reviewed, compiled, or carried out any procedures with respect to the preliminary monetary knowledge included herein. Precise outcomes might differ materially.

The Firm expects to announce its second quarter leads to early August 2021.

Ahead-Trying Statements

Statements included herein, together with statements relating to SuRo Capital’s beliefs, expectations, intentions, or methods for the longer term, might represent “forward-looking statements”. SuRo Capital cautions you that forward-looking statements are usually not ensures of future efficiency and that precise outcomes or developments might differ materially from these projected or implied in these statements. All forward-looking statements contain a lot of dangers and uncertainties, together with the affect of the COVID-19 pandemic and any market volatility that could be detrimental to our enterprise, our portfolio firms, our trade, and the worldwide financial system, that might trigger precise outcomes to vary materially from the plans, intentions, and expectations mirrored in or urged by the forward-looking statements. Threat elements, cautionary statements, and different circumstances which may trigger SuRo Capital’s precise outcomes to vary from administration’s present expectations are contained in SuRo Capital’s filings with the Securities and Trade Fee. SuRo Capital undertakes no obligation to replace any forward-looking assertion to replicate occasions or circumstances which will come up after the date of this press launch.

About SuRo Capital Corp.        

SuRo Capital Corp. (Nasdaq: SSSS) is a publicly traded funding fund that seeks to put money into high-growth, venture-backed personal firms. The fund seeks to create a portfolio of high-growth rising personal firms through a repeatable and disciplined funding strategy, in addition to to supply traders with entry to such firms via its publicly traded widespread inventory. SuRo Capital is headquartered in San Francisco, CA. Join with the corporate on Twitter, LinkedIn, and at www.surocap.com.

Contact
SuRo Capital Corp.
(650) 235-4769
IR@surocap.com

Media Contact
Invoice Douglass
Gotham Communications, LLC
Communications@surocap.com

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