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SuRo Capital Corp. (SSSS+6.40%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, showing a decrease in total investment income to $4,673,427 from $6,596,780 in the previous year. This decrease was primarily due to the cessation of interest income from short-term U.S. Treasury bills and other investments.
Total operating expenses for the year were $18,624,714, down from $20,036,389 in the previous year, with decreases in income tax expense, professional fees, and other expenses.
The company reported a net investment loss of $13,951,287 for the year, compared to a net investment loss of $13,439,609 in the previous year.
Net realized loss on investments was $5,020,314, compared to $11,947,504 in the previous year. The change was attributed to various exits and sales of investments during the year.
The net change in unrealized appreciation/depreciation of investments was $(18,968,978) for the year, compared to $30,453,935 in the previous year.
SuRo Capital's investment portfolio at fair value was $209,380,742 as of December 31, 2024, with investments in private portfolio companies comprising 91.6% of the portfolio.
The company completed a Modified Dutch Auction Tender Offer, repurchasing 2,000,000 shares of its common stock at $4.70 per share.
SuRo Capital also issued $30 million in 6.50% Convertible Notes due 2029 during the year, with a conversion rate of 129.0323 shares of common stock per $1,000 principal amount.
The company continues to focus on investments in high-growth venture-backed companies, with a significant portion of its portfolio in the artificial intelligence infrastructure & applications and software-as-a-service sectors.
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. annual 10-K report dated March 12, 2025. To report an error, please email earnings@qz.com.