Equus Total Return, Inc. Announces First Quarter Net Asset Value
May 15 2008 - 5:17PM
PR Newswire (US)
HOUSTON, May 15 /PRNewswire-FirstCall/ -- Equus Total Return, Inc.
(NYSE:EQS) (the "Fund") reports net assets as of March 31, 2008, of
$103.7 million, or $12.20 per share. Comparative data is summarized
below (in thousands, except per share amounts): For the March 31,
December 31, September 30, June 30, Quarter 2008 2007 2007 2007
Ended ------------ ------------ ------------ ----------- Net assets
$103,661 $103,243 $87,862 $92,163 Shares outstanding 8,496 8,401
8,333 8,266 Net assets per share $12.20 $12.29 $10.54 $11.15
Dividend per share $0.158 $0.125 $0.125 $0.125 Significant events
for the quarter were as follows: -- Entertainment. On January 3,
2008, the Fund made a $3.0 million mezzanine loan to 1848 Capital
Partners LLC. -- Alternative Energy. On February 14, 2008, the Fund
made a $5.0 million follow-on equity investment in Infinia
Corporation. Based in Kennewick, WA, Infinia Corporation is a solar
technology company currently seeking to commercialize its Infinia
Solar System, a solar power generation product that converts
concentrated solar energy into electricity. -- Revised Managed
Distribution Policy. On February 19, 2008, the Fund revised its
managed distribution policy to pay 10% of the Fund's market value
based on the 2007 year-end closing price of $6.31. On March 31,
2008, in accordance with the revised managed distribution policy,
the Fund paid a $0.158 per share dividend in the form of cash and
stock. -- Sports and Leisure. On February 29, 2008, the Fund made a
$1.0 million follow-on equity investment in Nickent Golf, Inc.
("Nickent"). Nickent is a definitive market leader in the rapidly
growing and expanding, hybrid club segment of the golf industry and
is an emerging leader in game-enhancement technology. As of March
31, 2008, the Fund had approximately $22.8 million in cash.
Approximately $14.7 million has been allocated for follow-on
investments with $7.8 million, $3.5 million, and $3.4 million
committed to RP&C International Investments LLC, Riptide
Entertainment, LLC and HealthSPAC, LLC, respectively. Equus Total
Return, Inc. 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 Equus Total Return, Inc. may be
obtained from the Equus website at http://www.equuscap.com/. This
press release may contain certain forward-looking statements
regarding future circumstances. These forward-looking statements
are based upon the Fund'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 risks and
uncertainties described in the Fund's filings with the Securities
and Exchange Commission. 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. The Fund 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
Fund or any other person that the events or circumstances described
in such statements are material. CONTACT: BRETT CHILES (713)
529-0900 DATASOURCE: Equus Total Return, Inc. CONTACT: Brett Chiles
for Equus Total Return, Inc., +1-713-529-0900 Web site:
http://www.equuscap.com/
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