SuRo Capital Corp. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 08, 2022 at 09:05 pm
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SuRo Capital Corp. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported revenue was USD 0.519511 million compared to USD 0.523916 million a year ago. Net loss was USD 45.9 million compared to net income of USD 15.25 million a year ago. Basic loss per share from continuing operations was USD 1.54 compared to basic earnings per share from continuing operations of USD 0.55 a year ago. Diluted loss per share from continuing operations was USD 1.54 compared to diluted earnings per share from continuing operations of USD 0.55 a year ago.
For the nine months, revenue was USD 1.99 million compared to USD 1.09 million a year ago. Net loss was USD 119.79 million compared to net income of USD 156.61 million a year ago. Basic loss per share from continuing operations was USD 3.92 compared to basic earnings per share from continuing operations of USD 6.39 a year ago. Diluted loss per share from continuing operations was USD 3.92 compared to diluted earnings per share from continuing operations of USD 6.11 a year ago.
SuRo Capital Corp. is an internally managed, non-diversified closed-end management investment company. The Company's investment objective is to maximize its portfolio's total return, principally by seeking capital gains on its equity and equity-related investments, and to a lesser extent, income from debt investments. The Company invests principally in the equity securities of what it believes to be rapidly growing venture-capital-backed emerging companies. The Company may invest in these portfolio companies through offerings of the prospective portfolio companies, transactions on secondary marketplaces for private companies, or negotiations with selling stockholders. It may invest in private credit and in founders equity, founders warrants, forward purchase agreements, and private investment in public equity transactions of special purpose acquisition companies. It invests in various industries, such as online education, pharmaceutical technology and home improvement finance.