Equus Announces Second Quarter Net Asset Value
November 14 2022 - 8:30AM
Equus Total Return, Inc. (NYSE: EQS) (“Equus” or
the “Company”) reports net assets as of September 30, 2022, of
$36.2 million. Net asset value per share decreased to $2.68 as of
September 30, 2022, from $2.75 as of June 30, 2022. Comparative
data is summarized below (in thousands, except per share
amounts):
As of the Quarter Ended |
9/30/2022 |
6/30/2022 |
3/31/2022 |
12/31/2021 |
9/30/2021 |
|
|
|
|
|
|
Net assets |
$36,230 |
$37,155 |
$37,435 |
$36,365 |
$36,243 |
Shares outstanding |
13,518 |
13,518 |
13,518 |
13,518 |
13,518 |
Net assets per share |
$2.68 |
$2.75 |
$2.77 |
$2.69 |
$2.68 |
The Company’s portfolio investments did not
experience a change in fair value during the quarter. The change in
net assets was due, in part, to increased professional fees and
expense relating to due diligence and the examination of potential
transactions that could, if consummated, be transformative for the
Company.
Subsequent to the end of the quarter, Equus
announced the following:
- Authorization to Withdraw
BDC Election. On November 3, 2022, Equus announced
that shareholders, collectively holding 7,166,015 shares (53.01% of
the Company’s issued and outstanding common stock), had authorized
the Company’s Board of Directors to cause the Company’s withdrawal
of its election to be classified as a business development company
under the Investment Company Act of 1940 as part of a potential
strategic transformation of Equus into an operating company. In
connection with this authorization, the Company filed an
Information Statement with the U.S. Securities and Exchange
Commission on Schedule 14C, dated November 3,
2022.
About Equus
The Company is a business development company
that trades as a closed-end fund on the New York Stock Exchange
under the symbol "EQS". Additional information on the Company may
be obtained from the Company’s website at www.equuscap.com.
This press release may contain certain
forward-looking statements regarding future circumstances. These
forward-looking statements are based upon the Company’s current
expectations and assumptions and are subject to various risks and
uncertainties that could cause actual results to differ materially
from those contemplated in such forward-looking statements
including, in particular, the performance of the Company, including
our ability to achieve our expected financial and business
objectives, and the other risks and uncertainties described in the
Company’s filings with the SEC. Actual results, events, and
performance may differ. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
to the date hereof. Except as required by law, the Company
undertakes no obligation to release publicly any revisions to these
forward-looking statements that may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. The inclusion of any statement in this
release does not constitute an admission by the Company or any
other person that the events or circumstances described in such
statements are material.
Contact:
Patricia Baronowski Pristine Advisers, LLC(631) 756-2486
Equus Total Return (NYSE:EQS)
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