SURO CAPITAL CORP. Files 8-K on Financials and Operations

TL;DR

SURO CAPITAL CORP. dropped an 8-K on July 11th detailing their financials and operations.

AI Summary

On July 11, 2024, SURO CAPITAL CORP. (formerly GSV Capital Corp.) filed an 8-K report. The filing primarily concerns the company's results of operations and financial condition, along with other events and financial statements. It also details the company's corporate structure, including its state of incorporation (Maryland) and fiscal year end (December 31).

Why It Matters

This 8-K filing provides crucial updates on SURO CAPITAL CORP.'s financial performance and operational status, which are key indicators for investors and stakeholders.

Risk Assessment

Risk Level: low — This filing is a standard 8-K report detailing financial information and operational events, not indicating any immediate or unusual risks.

Key Numbers

• 1231 — Fiscal Year End (Indicates the end of the company's annual accounting period.)

Key Players & Entities

• SURO CAPITAL CORP. (company) — Registrant
• GSV Capital Corp. (company) — Former company name
• July 11, 2024 (date) — Filing date
• Maryland (jurisdiction) — State of incorporation

FAQ

Key Financial Figures

• $0.01 — registered: Common Stock, par value $0.01 per share SSSS Nasdaq Global Select M
• $181.7 m — ital's net assets totaled approximately $181.7 million, or $7.17 per share, at March 31,
• $7.17 — otaled approximately $181.7 million, or $7.17 per share, at March 31, 2024, and appro
• $186.7 m — e, at March 31, 2024, and approximately $186.7 million, or $7.35 per share, at June 30,
• $7.35 — 4, and approximately $186.7 million, or $7.35 per share, at June 30, 2023. As of June
• $6.70 — asset value is estimated to be between $6.70 and $7.20 per share. As of June 30, 20
• $7.20 — ue is estimated to be between $6.70 and $7.20 per share. As of June 30, 2024, there
• $10.0 million — nva, Inc. Common Shares 4/17/2024 $10.0 million CW Opportunity 2 LP Class A Interes
• $15.0 million — ty 2 LP Class A Interest 5/7/2024 $15.0 million During the three months ended March 3
• $0.2 million — bal Ventures 4 Plus Pte Ltd 6/28/2024 $0.2 million $ -- (1) On June 28, 2024, SuRo Cap

Filing Documents

• tm2419209d1_8k.htm (8-K) — 40KB
• tm2419209d1_ex99-1.htm (EX-99.1) — 21KB
• tm2419209d1_ex99-1img001.jpg (GRAPHIC) — 3KB
• 0001104659-24-079242.txt ( ) — 287KB
• ssss-20240711.xsd (EX-101.SCH) — 4KB
• ssss-20240711_def.xml (EX-101.DEF) — 26KB
• ssss-20240711_lab.xml (EX-101.LAB) — 36KB
• ssss-20240711_pre.xml (EX-101.PRE) — 25KB
• tm2419209d1_8k_htm.xml (XML) — 5KB

02

Item 2.02. Results of Operations and Financial Condition. On July 11, 2024, SuRo Capital Corp. ("SuRo Capital" or the "Company") issued a press release containing preliminary estimates of its results for the secpmd quarter ended June 30, 2024 (the "Press Release"). A copy of the Press Release is included as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated into this Item 2.02 by reference. The information disclosed under this Item 2.02, including the information set forth in Exhibit 99.1 hereto, is being "furnished" and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise. The information in this Item 2.02 shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, or into any filing or other document pursuant to the Exchange Act, except as otherwise expressly stated in any such filing.

01

Item 8.01. Other Events. Preliminary Estimates and Investment Portfolio Update On July 11, 2024, the Company disclosed the following information in the Press Release. Preliminary Estimates of Results for the Quarter Ended June 30, 2024 As previously reported, SuRo Capital's net assets totaled approximately $181.7 million, or $7.17 per share, at March 31, 2024, and approximately $186.7 million, or $7.35 per share, at June 30, 2023. As of June 30, 2024, SuRo Capital's net asset value is estimated to be between $6.70 and $7.20 per share. As of June 30, 2024, there were 23,378,002 shares of the Company's common stock outstanding. Investment Portfolio Update As of June 30, 2024, the Company held positions in 39 portfolio companies – 35 privately held and 4 publicly held, some of which may be subject to certain lock-up provisions. During the three months ended June 30, 2024, the Company made the following investments, excluding short-term U.S. treasuries: Portfolio Company Investment Transaction Date Amount Canva, Inc. Common Shares 4/17/2024 $10.0 million CW Opportunity 2 LP Class A Interest 5/7/2024 $15.0 million During the three months ended March 31, 2024, the Company exited or received proceeds from the following investments, excluding short-term U.S. treasuries: Portfolio Company Transaction Date Net Proceeds Realized Gain Architect Capital PayJoy SPV, LLC (1) 6/28/2024 $10.0 million $ -- True Global Ventures 4 Plus Pte Ltd 6/28/2024 $0.2 million $ -- (1) On June 28, 2024, SuRo Capital redeemed its Membership Interest in Architect Capital PayJoy SPV, LLC. Preliminary Estimates and Guidance The preliminary financial estimates provided herein are unaudited and have been prepared by, and are the responsibility of, the management of the Company. Neither the Company's independent registered public accounting firm, nor any other independent accountants, have audited, reviewed, compiled, or performed any procedures

Forward-Looking Statements

Forward-Looking Statements including statements regarding the Company's beliefs, expectations, intentions, or strategies for the future, may constitute "forward-looking or developments may differ materially from those projected or implied in these statements. All forward-looking statements involve a number of risks and uncertainties, including the impact of any market volatility that may be detrimental to our business, our portfolio companies, our industry, and the global economy, that could cause actual results to differ materially from the plans, intentions, and expectations reflected in or suggested by the forward-looking statements. Risk factors, cautionary statements, and other conditions which could cause the Company's actual results to differ from management's current expectations, are contained in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances that may arise after the date of this Current Report on Form 8-K.

Financial Statements and Exhibits

Financial Statements and Exhibits. Exhibit No. Description Exhibit 99.1 Press Release dated July 11, 2024* Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) * The press release attached hereto as Exhibit 99.1 is "furnished" and not "filed," as described in Item 2.02 of this Current Report on Form 8-K. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: July 11, 2024 SURO CAPITAL CORP. By: /s/ Allison Green Allison Green Chief Financial Officer, Chief Compliance Officer, Treasurer and Corporate Secretary

View Full Filing

View this 8-K filing on SEC EDGAR