SuRo Capital adjusts conversion rate of 4.75% convertibles due 2023

By Cady Vishniac

Detroit, Dec. 30 – SuRo Capital Corp. has announced an adjustment to the conversion rate of its 4.75% convertible senior notes due 2023, according to a news release.

The conversion price has been adjusted to $9.42 per share, or 106.1681 shares of its common stock per $1,000 principal amount of notes, from $9.58 per share, or 104.339 shares or $1,000 face amount of notes.

The adjustment to the conversion rate of the notes was made pursuant to the supplemental indenture governing the notes as a result of SuRo Capital’s cash dividend of $0.25 per share, payable on Jan. 15 to the company’s common stockholders of record as of the close of business on Wednesday.

The ex-dividend date is Dec. 29.

SuRo Capital is an investment fund based in San Francisco.

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