SuRo Capital announces expiration, final results of tender offer

SuRo Capital announced its final results from its modified “Dutch Auction” tender offer. The Company’s Tender Offer expired at 5:00 P.M., Eastern Time, on April 1, 2024. The Tender Offer was made pursuant to an Offer to Purchase dated February 20, 2024 and the related Letter of Transmittal, by which the Company offered to purchase up to 2,000,000 shares of its common stock at a price per share not less than $4.00 and not greater than $5.00 in $0.10 increments, using available cash, which documents were filed with the Securities and Exchange Commission on February 20, 2024. In accordance with the Company’s previously announced Tender Offer, and based on the final count by Equiniti Trust Company, LLC, the depositary for the Tender Offer, the Company will repurchase 2,000,000 shares, representing 7.9% of its outstanding shares, for payment on or about April 5, 2024, at a price of $4.70 per share on a pro rata basis, excluding fees and expenses relating to the self-tender offer. The per share purchase price of properly tendered shares represents 58.8% of net asset value per share based as of December 31, 2023. The Company, in conjunction with Equiniti Trust Company, LLC, has determined the final proration factor for the tender offer is approximately 69.3%. The Company is funding the repurchase of shares in the Tender Offer using a portion of its cash on hand.