SuRo Capital(US:SSSS)2021-11-04 02:49Financial Data and Key Metrics Changes - SuRo Capital achieved a net asset value (NAV) of approximately $426 million or $14.79 per share, marking an increase of $0.48 from the previous quarter's NAV of $14.31 per share [10][51] - The company declared a $2 per share dividend, bringing the total dividends declared or paid in 2021 to $7.25 per share [11][54] Business Line Data and Key Metrics Changes - The top five positions in the investment portfolio accounted for approximately 54% of the fair value, with Course Hero being the largest position [13] - The company added 7 new portfolio companies during the quarter, including investments in Orchard Technologies and Varo Money [27][31] Market Data and Key Metrics Changes - The education technology sector represented approximately 46% of the investment portfolio at fair value, while financial technology and services accounted for about 25% [50] - The company reported strong performance from portfolio companies, with several announcing SPAC mergers and IPOs [17][22] Company Strategy and Development Direction - SuRo Capital is focused on deploying capital into high-growth opportunities, with a strategy that includes investing in companies with strong market positions and growth potential [8][37] - The company plans to continue evaluating additional dividends based on portfolio activity for the remainder of the year [12][67] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the portfolio's positioning to drive long-term value through exits and strategic investments [37] - The company acknowledged the impact of market volatility and the ongoing effects of the COVID-19 pandemic on business operations [4][5] Other Important Information - The company has a current liquidity position of approximately $180.8 million, including $108.2 million in cash [52] - The Board of Directors approved an extension of the share repurchase program until October 31, 2022 [53] Q&A Session Summary Question: How does the company plan to manage certain blocking periods related to SPACs? - Management stated that they strictly adhere to the lockup provisions associated with SPACs [68][69] Question: What is the current loss associated with the Ozy Media investment? - The loss from the Ozy Media investment is reported to be slightly over $11 million [71]