Sutter Rock lowers conversion price on 4.75% convertibles due 2023

By Sarah Lizee

Olympia, Wash., Dec. 31 – Sutter Rock Capital Corp. announced it adjusted the conversion rate for its 4.75% convertible senior notes due 2023.

The rate was changed to $10.21 per share from $10.39 per share, effective as of Dec. 31.

The adjustment to the conversion rate was made as a result of the company’s cash dividend of $0.12 per share, payable on Jan. 15, 2020 to the company’s common stockholders of record as of the close of business on Dec. 31. The ex-dividend date is Dec. 30.

Sutter Rock is a San Francisco-based investment fund that seeks to invest in high-growth, venture-backed private companies.

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