SuRo Capital to redeem $38.22 million 4.75% convertibles due 2023

By Wendy Van Sickle

Columbus, Ohio, Feb. 19 – SuRo Capital Corp. issued a notice to redeem $38,215,000 of its 4.75% convertible senior notes due 2023 (Cusip: 36191JAC5) on March 29 at par plus accrued interest, according to a 424B2 filing with the Securities and Exchange Commission.

Holders may surrender their notes for conversion into shares of the company’s common stock in lieu of cash at any time prior to the close of business on the business day immediately preceding the redemption date. The current conversion rate is 109.0505 shares of the company’s common stock per $1,000 principal amount of the notes, which represents a conversion price of about $9.25 per share.

U.S. Bank NA is the trustee.

SuRo Capital is an investment fund based in San Francisco.

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