SuRo Capital Corp. Third Quarter 2024 Preliminary Investment Portfolio Update

Core Insights - SuRo Capital continues to focus on artificial intelligence (AI) investments, with significant new investments made during the third quarter of 2024 [3][4] - The estimated net asset value (NAV) per share is projected to be between $6.50 and $7.00 as of September 30, 2024 [6] Investment Activities - In Q3 2024, SuRo Capital invested $17.5 million in OpenAI and $5.0 million in CoreWeave, an AI cloud computing provider [3][7] - Subsequent to the quarter-end, the company made an additional $12.0 million investment in VAST Data and increased its investment in CoreWeave by another $5.0 million [3][9] - Overall, nearly $55.0 million has been invested in leading AI infrastructure companies [4] Financial Position - As of September 30, 2024, SuRo Capital's liquid assets amounted to approximately $39.5 million [10] - The company has a total of 23,378,002 shares of common stock outstanding [10] Debt Management - The Board of Directors approved a repurchase program for up to $35.0 million of its 6.00% Notes due 2026 and plans to issue up to $75.0 million in private 6.50% Convertible Notes due 2029 [5][11] - As of September 30, 2024, the company had repurchased 1,010,136 of the 6.00% Notes under the repurchase program [14] Portfolio Overview - As of September 30, 2024, SuRo Capital held positions in 36 portfolio companies, including 32 privately held and 4 publicly held [7] - The company exited or received proceeds from several investments during the quarter, including a loss of $6.6 million from OneValley, Inc. [8]