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SuRo Capital Corp. (SSSS-1.71%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing a net investment loss of $3,207,873 compared to a net investment loss of $2,668,426 in the same quarter of the previous year.
Total investment income for the quarter was $888,717, down from $1,465,746 in the previous year. The decrease is attributed to reduced interest income from short-term U.S. Treasury bills and other investments.
Operating expenses for the quarter were $4,096,590, slightly down from $4,134,172 in the previous year. This decrease was primarily due to reduced compensation and interest expenses.
The company reported a net realized loss on investments of $13,713,512 for the quarter, compared to a net realized loss of $1,461,281 in the previous year.
Net change in unrealized appreciation of investments was $11,614,384, compared to $29,323,067 in the previous year. Significant changes were noted in investments such as OneValley, Inc. and SPBRX, INC.
SuRo Capital's total portfolio investments were valued at $199,302,778 as of September 30, 2024, with new investments including Canva, Inc. and CoreWeave, Inc.
The company repurchased $25.3 million of its 6.00% Notes due 2026 during the quarter as part of a discretionary note repurchase program.
SuRo Capital also issued $25.0 million of 6.50% Convertible Notes due 2029, with terms allowing conversion into common stock at a specified rate.
The filing details the company's financial strategies, including its share repurchase program and recent investment activities aimed at maximizing portfolio returns.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the SuRo Capital Corp. quarterly 10-Q report dated November 8, 2024. To report an error, please email earnings@qz.com.