SuRo Capital Corp. announces an adjustment of the conversion rate of convertible notes

SAN FRANCISCO, December 30, 2020 (GLOBE NEWSWIRE) – SuRo Capital Corp. (“SuRo Capital” or the “Company”) (Nasdaq: SSSS) today announced an adjustment to the conversion rate of its 4.75% Senior Convertible Bonds due 2023 (the “Bonds”) due to the Company’s cash dividend payable on January 15, 2021.

Effective December 30, 2020, the conversion price applicable to the Notes has been adjusted to $ 9.42 per share (106.1681 common shares of the Company for $ 1,000 principal amount of the Notes) from the highest conversion price. recent $ 9.58 per share (104.3390 shares of the common shares of the Company per $ 1,000 principal amount of notes), which has been in effect since November 10, 2020. The adjustment of the conversion rate of the notes was made in accordance with the Supplementary Indenture governing the Notes due to the Company’s liquidity dividend of $ 0.22 per share, payable January 15, 2021 to common shareholders of the Company of record at the close of business on December 30 2020. The ex-dividend date is December 29, 2020.

Notice of the conversion rate adjustment will be given to the holders of the Notes and to the US Bank National Association, as trustee, in accordance with the terms of the Supplementary Indenture governing the Notes.

Certain information concerning the dividend

The declaration date and amount of any dividends, including any future dividends, are subject to the sole discretion of the Board of Directors of SuRo Capital. The total amount of dividends declared and paid by SuRo Capital will be fully taxable to shareholders. The tax nature of SuRo Capital dividends can only be definitively determined at the end of SuRo Capital’s tax year (December 31). SuRo Capital will report the actual tax characteristics of each year’s dividends to shareholders and to the IRS on Form 1099-DIV after the end of the year.

Registered shareholders with questions regarding declared dividends can call American Stock Transfer at 800-937-5449.

The story continues

Forward-looking statements

Statements included in this document, including statements regarding SuRo Capital’s beliefs, expectations, intentions or strategies for the future, may constitute “forward-looking statements”. SuRo Capital warns you that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected or implied in such statements. All forward-looking statements involve a number of risks and uncertainties, including the impact of the COVID-19 pandemic and any market volatility that could harm our business, our holding companies, our industry and the economy. global, which could cause actual results to differ materially from plans, intentions and expectations reflected or suggested by forward-looking statements. The risk factors, cautions and other conditions that could cause SuRo Capital’s actual results to differ from management’s current expectations are contained in the documents filed by SuRo Capital with the Securities and Exchange Commission. SuRo Capital assumes no obligation to update any forward-looking statement to reflect events or circumstances that may arise after the date of this press release.

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 on www.surocap.com.

Contact
SuRo Capital Corp.
(650) 235-4769
[email protected]

Media contact
Bill Douglass
Gotham Communications, LLC
[email protected]