Net Asset Value Anticipated to be $9.00 to $9.50 Per Share Board of Directors Declares $0.25 Per Share Cash Dividend NEW YORK, July 08, 2025 (GLOBE NEWSWIRE) -- SuRo Capital Corp. (“SuRo Capital”, the “Company”, “we”, “us”, and “our”) (Nasdaq: SSSS) today provided the following preliminary update on its investment portfolio for the second quarter ended June 30, 2025. “The second quarter was SuRo Capital’s best quarter since inception, as measured by the appreciation in NAV per share,” said Mark Klein, Chair ...

Net Asset Value and Financial Position - As of June 30, 2025, SuRo Capital's net asset value is estimated to be between $9.00 and $9.50 per share, up from approximately $6.94 per share at June 30, 2024[8]. - The company reported net assets of approximately $162.3 million as of June 30, 2025, compared to $156.8 million at March 31, 2025[8]. Portfolio and Investments - SuRo Capital held positions in 36 portfolio companies as of June 30, 2025, including 33 privately held and 3 publicly held[10]. - During the three months ended June 30, 2025, SuRo Capital invested $5.0 million in Class A Common Shares of Plaid Inc.[11]. - The company realized net proceeds of $25.3 million from the sale of 222,240 shares of CoreWeave, Inc., resulting in a gain of $15.3 million[11]. - SuRo Capital also realized net proceeds of $15.9 million from the sale of 151,515 shares of ServiceTitan, Inc., with a gain of $5.9 million[11]. Dividends and Future Announcements - On July 3, 2025, the Board of Directors declared a dividend of $0.25 per share, payable on July 31, 2025[12]. - The company expects to announce its second quarter results in August 2025[14]. Financial Estimates and Risks - The preliminary financial estimates provided are unaudited and subject to change, with actual results potentially differing materially[13]. - Forward-looking statements indicate potential risks and uncertainties that could impact future performance[15].

Investment Portfolio Performance - The fair value of the investment portfolio as of March 31, 2025, was $213,577,198, compared to $175,015,571 as of March 31, 2024, indicating a year-over-year increase of approximately 22%[248][252]. - Total investment income decreased to $499,094 for the three months ended March 31, 2025, from $1,528,091 for the same period in 2024, representing a decline of about 67%[258][259]. - Net investment loss for the three months ended March 31, 2025, was $(3,661,769), compared to $(3,222,902) for the same period in 2024, reflecting an increase in losses[258]. - The net realized loss on investments for the three months ended March 31, 2025, was $(17,951), compared to a net loss of $(424,074) for the same period in 2024[258]. - The net change in unrealized appreciation of investments for the three months ended March 31, 2025, was $2,888,878, contrasting with a depreciation of $(18,418,370) in the same period in 2024[258]. Investment Strategy and Activities - The company’s investment strategy focuses on non-controlling equity and equity-related investments, primarily in high-growth, venture-backed companies across various sectors[241]. - The company did not exit or receive proceeds from any investments during the three months ended March 31, 2025[250]. - The company is frequently negotiating investments in private companies, subject to closing conditions[298]. - The fair value of investments is determined in good faith by the Board of Directors, which may fluctuate due to inherent uncertainties[300]. Financial Performance and Expenses - Compensation expenses for the three months ended March 31, 2025, were $1,667,835, down from $2,185,318 in the same period in 2024, a decrease of approximately 24%[258]. - Total operating expenses decreased to $4,160,863 for the three months ended March 31, 2025, from $4,750,993 for the same period in 2024, representing a decrease of approximately 12.4%[260]. - Net investment loss for the three months ended March 31, 2025, was $3,661,769, compared to a loss of $3,222,902 for the same period in 2024, indicating an increase in loss of about 13.6%[261]. Cash Reserves and Obligations - Cash reserves decreased to $16,180,542 as of March 31, 2025, down from $20,035,640 at the beginning of the year, primarily due to new investments and operating expenses[269]. - Total cash reserves and liquid securities amounted to $38,518,303 as of March 31, 2025, compared to $37,626,760 as of December 31, 2024, reflecting an increase of approximately 2.4%[267]. - The company has $75.2 million in total contractual obligations as of March 31, 2025, with $39.7 million due for the 6.00% Notes due 2026 and $35.0 million for the 6.50% Convertible Notes due 2029[271]. Share Repurchase and Distributions - No shares were repurchased under the Share Repurchase Program during the three months ended March 31, 2025, with approximately $25.0 million remaining available for repurchase[273]. - The company declared a total distribution of $12.10 per share from its formation through March 31, 2025[287]. - The distribution on May 4, 2021, was $2.50 per share, with 2,335,527 shares issued in lieu of cash, representing approximately 9.6% of outstanding shares prior to the distribution[294]. - The company intends to focus on equity investments primarily for capital gains, with distributions expected to be less consistent than other BDCs[291]. - The company plans to make future distributions in the form of additional shares under its dividend reinvestment plan (DRIP) unless stockholders opt for cash[292]. - All distributions paid from realized gains, with none representing a return of capital[288]. - The company does not anticipate paying distributions on a quarterly basis, expecting to declare and pay at least annually if earnings or realized capital gains are available[291]. Market Risks - The company is subject to market risks, including potential impacts on the valuation of equity investments during periods of capital market disruption[299]. - As of March 31, 2025, all debt investments and outstanding borrowings bore fixed rates of interest[301].

Q1 2025 Earnings Overview - SuRo Capital's NAV per share was $666 as of March 31, 2025[8] - The company's net assets were approximately $1568 million at quarter-end[8] - A new portfolio company investment was made in Plaid Inc for $50 million[7] - An additional $50 million debt refinance occurred in Q1[8] - $353 million in 600% Notes due 2026 were repurchased to date[11] - $350 million in 650% Convertible Notes due 2029 were issued to date[11] Portfolio Company Activity - CoreWeave, Inc successfully executed an IPO on March 28th[8] According to Reuters, CoreWeave raised over $15 billion from the listing at a valuation of approximately $230 billion[32, 38] - OpenAI announced a $400 billion financing round at a $3000 billion post-money valuation[8, 32, 47] Portfolio Composition - The top 5 positions accounted for 46% of the investment portfolio at fair value, based on a total investment portfolio fair value of $2136 million at March 31, 2025[29, 30]

Financial Data and Key Metrics Changes - The company ended the quarter with a net asset value (NAV) of $156.8 million or $6.66 per share, a slight decrease from $6.68 per share at the end of the previous year [19][37] - The decrease in NAV per share was primarily driven by a net investment loss, offset by an increase in unrealized appreciation of investments [37] Business Line Data and Key Metrics Changes - OpenAI announced a $40 billion funding round at a $300 billion post-money valuation, significantly up from its previous $7 billion round [9] - CoreWeave completed a $1.5 billion IPO at a valuation of approximately $23 billion, and its stock price increased over 35% post-IPO [11][13] - Canva reported annualized revenue exceeding $6 billion, marking an increase of over 30% year-over-year [15] Market Data and Key Metrics Changes - The Nasdaq experienced its worst quarterly performance since 2022, impacting private market valuations [6][7] - The S&P 500 saw significant volatility, with a drop of up to 12% before rebounding slightly [8] Company Strategy and Development Direction - The company is focused on AI infrastructure and applications, with significant investments in companies like OpenAI and CoreWeave [24] - The management believes the portfolio is well-positioned for future growth, particularly in AI and fintech sectors [23][42] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the portfolio's positioning despite ongoing market volatility and uncertainties [8][24] - The company is seeing more investment opportunities than ever, particularly in AI and fintech [42] Other Important Information - The company made a $5 million investment in Plaid, which is expected to be its last private financing before going public [16] - The company has a note repurchase program for its 6% notes due 2026, having repurchased $35.3 million in aggregate principal [34] Q&A Session Questions and Answers Question: Plans for ServiceTitan position post-lockup expiration - Management indicated that they do not view themselves as holders of public securities and would exit the position in normalized market conditions [42] Question: Discount for unregistered shares - The discount applied to CoreWeave and ServiceTitan shares is due to their unregistered status, which will be removed once they are registered [48] Question: Return of capital to shareholders - Management stated that if net realized gains are achieved by year-end, a distribution would be made by then or early in the next quarter [52] Question: OpenAI's valuation and investment mark-up - Management clarified that the investment mark-up reflects a less than 100% increase due to the nature of the valuation adjustments [55]

SuRo Capital (SSSS) Q1 2025 Earnings Call May 06, 2025 05:00 PM ET Speaker0 Hello, and welcome to Soro Capital's First Quarter twenty twenty five Earnings Call. My name is Melissa, and I will be your coordinator for today's event. Please note this conference is being recorded, and for the duration of the call, your lines will be on listen only. However, you will have the opportunity to ask questions at the end of the presentation. This can be done by pressing followed by one on your keypad to register your ...

SuRo Capital Portfolio Investment, CoreWeave, Completes Largest Tech IPO Since 2021 SuRo Capital Portfolio Investment, OpenAI, Closes Largest Venture Raise with $300 Billion Valuation Net Asset Value of $6.66 Per Share as of March 31, 2025 NEW YORK, May 06, 2025 (GLOBE NEWSWIRE) -- SuRo Capital Corp. (“SuRo Capital”, the “Company”, “we”, “us”, and “our”) (Nasdaq: SSSS) today announced its financial results for the first quarter ended March 31, 2025. Net assets totaled approximately $156.8 million, or $6.66 ...

NEW YORK, April 29, 2025 (GLOBE NEWSWIRE) -- SuRo Capital Corp. (“SuRo Capital”) (Nasdaq: SSSS) today announced that it will report its financial results for the quarter ended March 31, 2025 after the close of the U.S. market on Tuesday, May 6, 2025. Management will hold a conference call and webcast for investors at 2:00 p.m. PT (5:00 p.m. ET). The conference call access number for U.S. participants is 866-580-3963, and the conference call access number for participants outside the U.S. is +1 786-697-3501. ...

Financial Performance - As of March 31, 2025, SuRo Capital's net asset value is estimated to be between $6.50 and $7.00 per share, compared to $6.68 per share at December 31, 2024[9]. - The total net assets increased from approximately $157.6 million at December 31, 2024, to approximately $181.7 million at March 31, 2025[9]. - The preliminary financial estimates provided are unaudited and subject to change, with actual results potentially differing materially[13]. Investment Activities - The company held positions in 37 portfolio companies as of March 31, 2025, including 32 privately held and 5 publicly held[11]. - During Q1 2025, SuRo Capital invested a total of $1.3 million in Orchard Technologies, Inc. and $1.0 million in Whoop, Inc.[11]. - Subsequent to the quarter-end, the company invested $5.0 million in Plaid Inc. on April 4, 2025[12]. Shareholder Information - There are 23,551,859 shares of common stock outstanding as of March 31, 2025[10]. Future Outlook - The company expects to announce its first quarter results for the period ended March 31, 2025, in May 2025[14]. - The company cautions that forward-looking statements regarding future performance involve risks and uncertainties that could cause actual results to differ materially[15]. - The company is not classified as an emerging growth company under the Securities Act[5].

SuRo Capital Portfolio Investment CoreWeave Completes Largest Tech IPO Since 2021 SuRo Capital Portfolio Investment OpenAI Closes Largest Venture Raise with $300 Billion Valuation Net Asset Value Anticipated to be $6.50 to $7.00 Per Share NEW YORK, April 07, 2025 (GLOBE NEWSWIRE) -- SuRo Capital Corp. (“SuRo Capital”, the “Company”, “we”, “us”, and “our”) (Nasdaq: SSSS) today provided the following preliminary update on its investment portfolio for the first quarter ended March 31, 2025. “The past few mont ...