SSSS - SuRo Capital rallies on modified dutch auction tender offer to repurchase upto 3M shares
2023-03-20 09:16:33 ET
- SuRo Capital ( NASDAQ: SSSS ) commence a modified Dutch Auction tender offer to purchase up to 3M shares at a price per share not less than $3.00 and not greater than $4.50 in $0.10 increments, using available cash.
- "Given our stock is trading at a significant discount to net asset value, coupled with the extreme market volatility, we believe the modified Dutch Auction Tender offer to be an efficient and accretive deployment of capital," chairman & CEO Mark Klein commented.
- If the tender offer is fully subscribed, the company will purchase 3M shares, or ~10.6%, of its outstanding shares.
- Shares rallied 17.8% higher premarket.
For further details see:
SuRo Capital rallies on modified dutch auction tender offer to repurchase upto 3M shares