SuRo Capital Corp. Tender Offer Expiring on September 2, 2022 at 5:00 P.M., Eastern Time
August 30 2022 - 1:00PM
SuRo Capital Corp. (“SuRo Capital”, the
“Company”, “we”, “us”, and “our”) (Nasdaq:
SSSS) today reminded its stockholders its modified
“Dutch Auction” tender offer (the “Tender Offer”), which commenced
on August 8, 2022, remains scheduled to expire at 5:00 P.M.,
Eastern Time, on September 2, 2022. The Company launched the Tender
Offer to purchase up to 2,000,000 shares of its common stock at a
price per share not less than $6.00 and not greater than $7.00 in
$0.10 increments, using available cash. If the Tender Offer is
fully subscribed, the Company will purchase 2,000,000 shares, or
approximately 6.60%, of the Company’s outstanding shares of its
common stock. Any shares tendered may be withdrawn prior to
expiration of the Tender Offer. Stockholders that do not wish to
participate in the Tender Offer do not need to take any action.
Based on the number of shares tendered and the
prices specified by the tendering stockholders, the Company will
determine the lowest per-share price that will enable it to acquire
up to 2,000,000 shares of its common stock. All shares accepted in
the Tender Offer will be purchased at the same price even if
tendered at a lower price.
The Tender Offer is not contingent upon any
minimum number of shares being tendered. The Tender Offer is,
however, subject to other conditions, which have been disclosed in
the Tender Offer documents. In the future, the Board of Directors
may consider additional tender offer(s) or other measures to
enhance shareholder value based upon a variety of factors,
including the market price of the Company’s common stock and its
net asset value.
The Company’s Board of Directors is not making
any recommendation to stockholders as to whether to tender or
refrain from tendering their shares into the Tender Offer.
Stockholders must decide how many shares they will tender, if any,
and the price within the stated range at which they will offer
their shares for purchase.
The information agent for the Tender Offer is
D.F. King & Co. Inc., and the depositary is American Stock
Transfer & Trust Company, LLC. The offer to purchase (the
“Offer to Purchase”), a letter of transmittal and related documents
have been mailed to registered holders and certain of our
beneficial holders. Beneficial holders may alternatively receive
the Offer to Purchase and a communication to consult with their
bank, broker or custodian, if they wish to tender shares. For
questions and information, please contact the information agent at
suro@dfking.com. Banks and brokers may call the information agent
at (212) 269-5550, and all others may call the information agent
toll-free at (800) 769-4414.
Certain Information Regarding the Tender
Offer
The information in this press release describing
the Company’s Tender Offer is for informational purposes only and
does not constitute an offer to buy or the solicitation of an offer
to sell shares of the Company’s common stock in the Tender Offer.
The Tender Offer is being made only pursuant to the Offer to
Purchase and the related materials that the Company filed with the
Securities and Exchange Commission and distributed to its
stockholders, and such materials may be amended or supplemented.
Stockholders should read such Offer to Purchase and related
materials carefully and in their entirety because they contain
important information, including the various terms and conditions
of the Tender Offer. Stockholders of SuRo Capital Corp. may obtain
a free copy of the Tender Offer statement on Schedule TO, the Offer
to Purchase and other documents that the Company will be filing
with the Securities and Exchange Commission from the Securities and
Exchange Commission’s website at www.sec.gov. Stockholders may also
obtain a copy of these documents, without charge, from D.F. King
& Co. Inc., the information agent for the Tender Offer, by
emailing suro@dfking.com or calling toll-free at (800) 769-4414.
Stockholders are urged to carefully read all of these materials
prior to making any decision with respect to the Tender Offer.
Stockholders and investors who have questions or need assistance
may call D.F. King & Co. Inc. or email suro@dfking.com.
Forward-Looking Statements
Statements included herein, including statements
regarding SuRo Capital's beliefs, expectations, intentions, or
strategies for the future, may constitute "forward-looking
statements". SuRo Capital cautions 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 these 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 may be
detrimental to our business, our portfolio companies, our industry,
and the global economy, that could cause actual results to differ
materially from the plans, intentions, and expectations reflected
in or suggested by the forward-looking statements. Risk factors,
cautionary statements, and other conditions which could cause SuRo
Capital's actual results to differ from management's current
expectations are contained in SuRo Capital's filings with the
Securities and Exchange Commission. SuRo Capital undertakes 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,
venture-backed private companies. The fund seeks to create a
portfolio of high-growth emerging private companies via a
repeatable and disciplined investment approach, as well as to
provide investors with access to such companies through its
publicly traded common stock. SuRo Capital is headquartered in New
York, NY and has offices in San Francisco, CA. Connect with the
company on Twitter, LinkedIn, and at www.surocap.com.
ContactSuRo Capital Corp.(212)
931-6331IR@surocap.com
Media ContactBill
DouglassGotham Communications, LLCCommunications@surocap.com
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