SuRo Capital Corp. reported a net investment loss of $3.66 million for the first quarter of 2025, compared to a loss of $3.22 million in the same period of 2024. The company's total investment income decreased significantly to $499,094 from $1.53 million year-over-year, primarily due to the cessation of interest income from U.S. Treasury bills and reduced interest income from other investments. Operating expenses also declined to $4.16 million from $4.75 million, driven by lower compensation and other expenses, although professional fees and interest expenses increased slightly.
As of March 31, 2025, SuRo Capital's total assets stood at $231.67 million, a marginal increase from $231.60 million at the end of 2024. The company's net assets decreased to $156.80 million from $157.57 million, resulting in a net asset value per share of $6.66, down from $6.68. The company’s investment portfolio, valued at $213.58 million, included a mix of non-controlled/non-affiliate investments and controlled investments, with a notable increase in the fair value of controlled investments from $1.6 million to $10.21 million.
In terms of strategic developments, SuRo Capital engaged in a note repurchase program, retiring $5 million of its 6.00% Notes due 2026 during the quarter. The company also issued $25 million in 6.50% Convertible Notes due 2029, with an additional $10 million issued in subsequent months. The company’s cash balance decreased to $16.18 million from $20.04 million, reflecting cash outflows for investments and operating expenses.
Operationally, SuRo Capital's investment strategy focuses on equity securities of rapidly growing venture-backed companies across various sectors, including artificial intelligence and software-as-a-service. The company reported a portfolio turnover ratio of 5.28%, indicating a relatively stable investment approach. Looking ahead, SuRo Capital aims to maintain liquidity to support its investment activities while navigating market conditions that may impact its portfolio valuations. The company continues to evaluate potential investments and remains committed to its long-term growth strategy.
About SURO CAPITAL CORP.
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