SuRo Capital Corp. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 09, 2023 at 04:44 pm
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SuRo Capital Corp. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 1.37 million compared to USD 0.890631 million a year ago. Net loss was USD 15.62 million compared to USD 94.34 million a year ago. Basic loss per share from continuing operations was USD 0.6 compared to USD 3.08 a year ago. Diluted loss per share from continuing operations was USD 0.6 compared to USD 3.08 a year ago.
For the six months, revenue was USD 2.67 million compared to USD 1.47 million a year ago. Net loss was USD 11 million compared to USD 73.88 million a year ago. Basic loss per share from continuing operations was USD 0.41 compared to USD 2.39 a year ago. Diluted loss per share from continuing operations was USD 0.41 compared to USD 2.39 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.