Jonathan Kitchen
New York-based SuRo Capital (NASDAQ:SSSS) has had a colorful history as a public company. Three name changes in recent years first from GSV Capital to Sutter Rock and then to the current iteration have come against surging
The SPAC Collapse Isn't Good News For SuRo Capital
Summary
- The collapse of SPACs has left SuRo Capital without its main source of exits on its investments.
- NAV per share at $9.24 places the fund in relative value territory. The company launched a tender offer in a bid to try and close this gap.
- While the discount will likely remain sticky on the back of continued macro headwinds, SuRo's large cash position will drive future shareholder value.
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