SURO CAPITAL CORP
For the period ended Sep 30, 2024. Filed Nov 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 8, 2024
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Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Sales of Unregistered Equity Securities
We did not sell any equity securities during the period covered in this report that were not registered under the Securities Act of 1933, as amended.
Issuer Purchases of Equity Securities(1)
Information relating to our purchases of our common stock during the nine months ended September 30, 2024 is as follows:
| Period | Total Number of Shares Purchased(2) | Average Price Paid Per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Approximate Dollar Value of Shares that May Yet Be Purchased Under the Share Repurchase Program |
|---|---|---|---|---|
| January 1 through January 31, 2024 | — | $— | — | $20,686,087 |
| February 1 through February 28, 2024 | — | — | — | 20,686,087 |
| March 1 through March 31, 2024 | — | — | — | 20,686,087 |
| April 1 through April 30, 2024(3) | 2,000,000 | 4.70 | 2,000,000 | 20,686,087 |
| May 1 through May 31, 2024 | — | — | — | 20,686,087 |
| June 1 through June 30, 2024 | — | — | — | 20,686,087 |
| July 1 through July 31, 2024 | — | — | — | 20,686,087 |
| August 1 through August 31, 2024 | 12,000 | 3.84 | — | 20,686,087 |
| September 1 through September 30, 2024 | — | — | — | 20,686,087 |
| Total | 2,012,000 | 2,000,000 |
| (1) | On August 7, 2023, our Board of Directors approved an extension of the Share Repurchase Program until the earlier of (i) October 31, 2024 or (ii) the repurchase of $60.0 million in aggregate amount of our common stock. The timing and number of shares to be repurchased will depend on a number of factors, including market conditions and alternative investment opportunities. The Share Repurchase Program may be suspended, terminated or modified at any time for any reason and does not obligate us to acquire any specific number of shares of our common stock. During the three and nine months ended September 30, 2024, we did not repurchase shares of common stock under the Share Repurchase Program. As of September 30, 2024, the dollar value of shares that remained available to be purchased under the Share Repurchase Program was approximately $20.7 million. For more information on the Share Repurchase Program, see “Note 5 — Common Stock” to our Condensed Consolidated Financial Statements as of September 30, 2024. |
| (2) | Includes purchases of our common stock made on the open market by or on behalf of any “affiliated purchaser,” as defined in Exchange Act Rule 10b-18(a)(3), of the Company. |
| (3) | On April 5, 2024, we repurchased 2,000,000 shares of our common stock pursuant to the Modified Dutch Auction Tender Offer. See “Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources—Modified Dutch Auction Tender Offer” in Part I of this quarterly report on Form 10-Q for more information. |
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