SuRo Capital adjusts conversion rate of 4.75% convertibles due 2023

By Taylor Fox

New York, Oct. 5 – 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 Sept. 28, according to a news release.

The conversion price has been adjusted to $9.84 per share, or 101.6664 shares of its common stock per $1,000 principal amount of notes, from $10.10 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 $0.25 per share, payable on Oct. 20, to the company’s common stockholders of record as of the close of business on Monday.

The ex-dividend date is Oct. 2.

SuRo Capital is an investment fund based in San Francisco.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.