SuRo Capital to commence modified dutch auction tender offer for 3M shares

SuRo Capital will commence a modified "Dutch Auction" tender offer to purchase up to 3 million shares of its common stock at a price per share not less than $3.00 and not greater than $4.50 in $0.10 increments, using available cash. "As we have consistently demonstrated, SuRo Capital is committed to initiatives that enhance shareholder value, and we believe the market is currently undervaluing our portfolio. Accordingly, on March 17, 2023, our Board of Directors authorized a modified Dutch Auction Tender Offer to purchase up to 3 million shares of our common stock at a price per share between $3.00 and $4.50. Given our stock is trading at a significant discount to net asset value, coupled with the extreme market volatility, we believe the modified Dutch Auction Tender offer to be an efficient and accretive deployment of capital," said Mark Klein, Chairman and Chief Executive Officer of SuRo Capital.