EQUUS TOTAL RETURN, INC.
For the period ended Sep 30, 2025. Filed Nov 20, 2025.
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Sep 30, 2025 · Filed Nov 20, 2025
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Item 1A. Risk Factors
In connection with our efforts to convert Equus into an operating company in furtherance of our plan to convert the Fund into an operating company, we may be subject to a number of risks associated with this process, the transactions that would embody a consolidation of Equus with another company, as well as specific risks associated with the commercial enterprise with which Equus may seek to combine itself. We intend to identify, as will be reasonably possible, such risks and include the same in our subsequent filings and reports with the SEC.
Readers should carefully consider these risks and all other information contained in our annual report on Form 10-K (“10-K”) for the year ended December 31, 2024, including the Fund’s financial statements and the related notes thereto. The risks and uncertainties described in our 10-K and throughout this 10-Q are not the only ones facing the Fund.
Additional risks and uncertainties not presently known to us, or not presently deemed material by us, may also impair our operations and performance.
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