SuRo Capital Corp. Q1 2024 Preliminary Investment Portfolio Update; Says In Q1 We Added One New Portfolio Company Through A $10M Primary Investment In Supplying Demand, Inc. (d/b/a Liquid Death), And Are In Final Documentation On Another Compelling New Investment
Portfolio Pulse from Benzinga Newsdesk
SuRo Capital Corp. (SSSS) announced a Q1 2024 update, revealing a $10M investment in Liquid Death and a potential new investment. The company highlighted its strong investment pipeline, over $60M in investable capital, and actions to enhance shareholder value, including a Modified Dutch Auction Tender Offer and a Share Repurchase Program. SuRo Capital's net asset value is estimated to be between $6.90 to $7.40 per share as of March 31, 2024.
April 16, 2024 | 8:21 pm
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SuRo Capital Corp. announced a $10M investment in Liquid Death, a potential new investment, and actions to enhance shareholder value, including a Modified Dutch Auction Tender Offer and a Share Repurchase Program. NAV is estimated between $6.90 to $7.40 per share as of March 31, 2024.
The announcement of a significant investment in Liquid Death, alongside a strong investment pipeline and shareholder value initiatives like the Modified Dutch Auction Tender Offer and Share Repurchase Program, signals a proactive growth strategy and financial health. These actions, especially in the context of a strengthening IPO market, are likely to be viewed positively by investors, potentially leading to a short-term positive impact on SSSS's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100