SAN FRANCISCO, December 9, 2021 (GLOBE NEWSWIRE) – SuRo Capital Corp. (“SuRo Capital” or the “Company”) (Nasdaq:SSSS) announced today that it has priced a registered public offering of $ 70,000,000 in aggregate principal amount of its 6.00% Notes due 2026 (the “Notes”), which will result in net proceeds to the Company of approximately $ 67,462,500 (or approximately $ 77,634,375 if the Underwriters fully exercise the over-allotment option described below) based on a public offering price of 100% of the total principal amount of the Bonds, after deduction of the payment of discounts and underwriting commissions and of the estimated offering costs payable by the Company.
The Notes will mature on December 30, 2026 and may be redeemed in whole or in part at any time, or from time to time, at the option of the Company on or after December 30, 2024. The Notes will bear interest at a rate of 6.00 % per annum, payable quarterly on March 30, June 30, September 30 and December 30 of each year, commencing March 30, 2022. The Company has also granted the underwriters a 30-day option to purchase total capital additional $ 10,500,000 from notes to cover over-allotments, if applicable.
The offering is subject to customary closing conditions and is expected to close on December 17, 2021. The Company has submitted an application to have the Notes listed and traded on the Nasdaq Global Market under the symbol “SSSSL”. If listing is approved, the Company expects the Notes to begin trading within 30 days of the original issue date.
The Company intends to use the net proceeds of this offering to make investments in portfolio companies in accordance with its investment objective and strategies, and for general corporate purposes.
Ladenburg Thalmann & Co. Inc., InspereX LLC and Barrington Research Associates, Inc. are acting as underwriters of this offer.
Investors are urged to carefully consider the investment objective, risks and costs and expenses of the Company before investing. The preliminary prospectus supplement, dated December 9, 2021, and the accompanying prospectus, dated July 27, 2020, each of which has been filed with the Securities and Exchange Commission, contain a description of these matters and other important information. about the Company and should be read carefully before investing.
The information contained in the preliminary prospectus supplement, the accompanying prospectus and this press release is not complete and is subject to change. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of this offering or any other security and there will be no sale of such securities or any other security mentioned in this press release in any state or jurisdiction in which such offering, solicitation or sale would be illegal before registration or qualification under the securities laws of that state or jurisdiction.
A store registration statement relating to these securities is filed with the Securities and Exchange Commission and has been declared effective by the Securities and Exchange Commission. Offer may only be made by way of prospectus and related prospectus supplement, copies of which may be obtained, where available, from: Ladenburg Thalmann & Co. Inc., 640 5th Ave., 4th Floor, New York, New York 10019, or: 1-800-573-2541, or: [email protected]
About SuRo Capital Corp.
SuRo Capital Corp. (Nasdaq: SSSS) is a publicly traded investment fund that seeks to invest in high growth private companies funded by venture capital. The fund seeks to build a portfolio of high growth emerging private companies through a repeatable and disciplined investment approach, as well as providing investors with access to these companies through its publicly traded common stocks. SuRo Capital is headquartered in San Francisco, California. Connect with the company on Twitter, LinkedIn and at www.surocap.com.
Statements included in this document may constitute “forward-looking statements”, which relate to future events or our future operations, performance or financial condition. Forward-looking statements include statements regarding our intentions relating to the offering discussed in this press release, including the use of proceeds from the offering. These statements do not constitute guarantees of future performance, conditions or results and involve a number of risks and uncertainties. Actual results may differ materially from those anticipated in forward-looking statements due to various factors, including those described from time to time in our documents filed with the Securities and Exchange Commission or factors beyond our control. The Company assumes no obligation to publicly update or revise any forward-looking statements contained in this document. All forward-looking statements speak only at the time of this press release.
SuRo Capital Corp.
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