SuRo Capital adjusts conversion rate of 4.75% convertible notes due 2023

By Taylor Fox

New York, Aug. 11 – SuRo Capital Corp. has announced an adjustment to the conversion rate of its 4.75% convertible senior notes due 2023 as a result of the its cash dividend payable on Aug. 25, according to an 8-K filing with the Securities and Exchange Commission.

The conversion price has been adjusted to $10.10 per share, or 99.0298 shares of the its common stock per $1,000 principal amount of notes, from $10.21 per share.

The adjustment to the conversion rate of the notes was made pursuant to the supplemental indenture governing the notes as a result of the SuRo Capital’s cash dividend of $0.15 per share, payable on Aug. 25, to the company’s common stockholders of record as of the close of business on Tuesday.

The ex-dividend date is Aug. 10.

SuRo Capital is an investment fund based in San Francisco.

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