GAMCO Investors Files 13D for SuRo Capital Corp.

TL;DR

GAMCO just bought a big chunk of SURO. Watch this space.

AI Summary

On October 8, 2024, GAMCO Investors, Inc. et al. filed a Schedule 13D, reporting beneficial ownership of SuRo Capital Corp. The filing indicates a change in ownership or control, with GAMCO Investors, Inc. now holding a significant stake in the company. Specific details regarding the exact percentage of ownership and the total value of the holdings are not immediately available in this excerpt but are typically detailed within the full filing.

Why It Matters

This filing signals a significant shift in the ownership structure of SuRo Capital Corp., potentially leading to changes in company strategy or management as GAMCO Investors, Inc. asserts its influence.

Risk Assessment

Risk Level: medium — A Schedule 13D filing indicates a significant stake, which can lead to activist investor behavior or a change in control, introducing uncertainty.

Key Players & Entities

• GAMCO Investors, Inc. et al. (company) — Filing entity
• SuRo Capital Corp. (company) — Subject company
• 0000807249-24-000134.txt (document) — Filing document identifier
• 20241008 (date) — Filing date

FAQ

Key Financial Figures

• $5,036,565 — sons used an aggregate of approximately $5,036,565 to purchase the Securities reported as
• $810,094 — CO and Gabelli Funds used approximately $810,094 and $4,170,451, respectively, of funds
• $4,170,451 — i Funds used approximately $810,094 and $4,170,451, respectively, of funds that were provi
• $6,260 — r such clients. GCIA used approximately $6,260 of client funds to purchase the Securit
• $20,245 — ed by it. Foundation used approximately $20,245 of funds of a private entity to purchas
• $29,515 — s reported by it. AC used approximately $29,515 of working capital to purchase the Secu

Filing Documents

• ssss_00.htm (SC 13D) — 186KB
• 0000807249-24-000134.txt ( ) — 187KB

Security and Issuer

Item 1. Security and Issuer The class of equity securities to which this statement on Schedule 13D relates is the Common Stock of SuRo Capital Corp. (the "Issuer"), a Maryland corporation with principal offices located at 640 Fifth Avenue, 12 th Floor, New York, NY 10019.

Identity and Background

Item 2. Identity and Background

to Schedule 13D is amended, in pertinent part, as follows

Item 2 to Schedule 13D is amended, in pertinent part, as follows: This statement is being filed by various entities which except for LICT Corporation ("LICT) and CIBL, Inc. ("CIBL"), engage in various aspects of the securities business, primarily as investment adviser to various institutional and individual clients, including registered investment companies and pension plans, and as general partner or the equivalent of various private investment partnerships or private funds and as a registered broker-dealer. Certain of these entities may also make investments for their own accounts. Mario J. Gabelli ("Mario Gabelli") is deemed to directly or indirectly control these entities through his ownership interest. The foregoing persons in the aggregate often own beneficially more than 5% of a class of equity securities of a particular issuer. Although several of the foregoing persons are treated as institutional investors for purposes of reporting their beneficial ownership on the short-form Schedule 13G, the holdings of those who do not qualify as institutional investors may exceed the 1% threshold presented for filing on Schedule 13G or implementation of their investment philosophy may from time to time require action which could be viewed as not completely passive. In order to avoid any question as to whether their beneficial than on the short-form Schedule 13G and thereby to provide more expansive disclosure than may be necessary. (a), (b) and (c) - This statement is being filed by one or more of the following persons: GGCP, Inc. ("GGCP"), GGCP Holdings LLC ("GGCP Holdings"), GAMCO Investors, Inc. ("GBL"), Associated Capital Group, Inc. ("AC"), Gabelli Funds, LLC ("Gabelli Funds"), GAMCO Asset Management Inc. ("GAMCO"),

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration The Reporting Persons used an aggregate of approximately $5,036,565 to purchase the Securities reported as beneficially owned in Item 5. GAMCO and Gabelli Funds used approximately $810,094 and $4,170,451, respectively, of funds that were provided through the accounts of certain of their investment advisory clients (and, in the case of some of such accounts at GAMCO, may be through borrowings from client margin accounts) in order to purchase the Securities for such clients. GCIA used approximately $6,260 of client funds to purchase the Securities reported by it. Foundation used approximately $20,245 of funds of a private entity to purchase the Securities reported by it. AC used approximately $29,515 of working capital to purchase the Securities reported by it.

Purpose of Transaction

Item 4. Purpose of Transaction Each of the Reporting Persons has purchased and holds the Securities reported by it for investment for one or more accounts over which it has shared, sole, or both investment and/or voting power, for its own account, or both. The Reporting Persons are engaged in the business of securities analysis and investment. The Reporting Persons analyze the operations, capital structure and markets of companies in which they invest, including the Issuer, on a continuous basis through analysis of documentation and discussions with knowledgeable industry and market observers and with representatives of such companies (often at the invitation of management). As a result of these analytical activities one or more of the Reporting Persons may issue analysts reports, participate in interviews or hold discussions with third parties, with management or with Directors in which the Reporting Person may suggest or take a position with respect to potential changes in the operations, management or capital structure of such companies as a means of enhancing shareholder values. Such suggestions or positions may relate to one or more of the transactions specified in clauses (a) through (j) of Item 4 of Schedule 13D including, without limitation, such matters as disposing of one or more businesses, selling the company or acquiring another company or business, changing operating or marketing strategies, adopting or not adopting, certain types of anti-takeover measures and restructuring the company's capitalization or dividend policy. Each of the Reporting Persons intends to adhere to the foregoing investment philosophy with respect to the Issuer. However, none of the Reporting Persons intends to seek control of the Issuer or participate in the management of the Issuer, and any Reporting Person that is registered as an investment company under the Company Act will participate in such a transaction only following receipt of an exemption from the SEC under Rule 1

Interest In Securities Of The Issuer

Item 5. Interest In Securities Of The Issuer (a) The aggregate number of Securities to which this Schedule 13D relates is 1,198,575 shares, representing 5.13% of the 23,378,002 shares outstanding as reported in the Issuer's most recently filed Form 10-Q for the quarterly period ended June 30, 2024. The Reporting Persons beneficially own those Securities as follows: Name Shares of Common Stock % of Class of Common GAMCO Gabelli Funds GCIA Foundation 192,000 992,500 1,575 5,000 0.82% 4.25% 0.01% 0.02% AC 7,500 0.03% Mario Gabelli is deemed to have beneficial ownership of the Securities owned beneficially by each of the foregoing persons. AC, GBL and GGCP are deemed to have beneficial ownership of the Securities owned beneficially by each of the foregoing persons other than Mario Gabelli and the Foundation. (b) Each of the Reporting Persons and Covered Persons has the sole power to vote or direct the vote and sole power to dispose or to direct the disposition of the Securities reported for it, either for its own benefit or for the benefit of its investment clients or its partners, as the case may be, except that (i) Gabelli Funds has sole dispositive and voting power with respect to the shares of the Issuer held by the Funds so long as the aggregate voting interest of all joint filers does not exceed 25% of their total voting interest in the Issuer and, in that event, the Proxy Voting Committee of each Fund shall respectively vote that Fund's shares, (ii) at any time, the Proxy Voting Committee of each such Fund may take and exercise in its sole discretion the entire voting power with respect to the shares held by such fund under special circumstances such as regulatory considerations, and (iii) the power of Mario Gabelli, AC, GBL, and GGCP is indirect with respect to Securities beneficially owned directly by other Reporting Persons. (c) Information with respect to all transactions in the Securities which were effected during the past sixty day

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer The powers of disposition and voting of Gabelli Funds, Teton Advisors, GAMCO, GCIA and MJG Associates with respect to Securities owned beneficially by them on behalf of their investment advisory clients, and of MJG Associates and GCIA with respect to Securities owned beneficially by them on behalf of the partnerships or corporations which they directly or indirectly manage, are held pursuant to written agreements with such clients, partnerships and funds.

Material to be Filed as an Exhibit

Item 7. Material to be Filed as an Exhibit The following Exhibit A is attached hereto. The following Exhibit B is incorporated by reference to Exhibit B in the Initial Schedule 13D of the Reporting Persons with respect to Lincare Holdings Inc. Exhibit A: Joint Filing Agreement Exhibit B: Powers of Attorney to David M. Goldman and Douglas R. Jamieson from Mario J. Gabelli individually and/or as an executive officer or director of any entity of which Mr. Gabelli serves. 10 Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: O

View Full Filing

View this SC 13D filing on SEC EDGAR