Sutter Rock Capital Corp. Buyback
OLI recorded this information on 10/21/2019
Sutter Rock Capital Corp.
Sutter Rock Capital Corp. ("Sutter Rock" or the "Company") (Nasdaq:SSSS) announced today that it will commence a modified "Dutch Auction" tender offer (the "Tender Offer") to purchase up to $10.0 million of its common stock at a price per share not less than $6.00 and not greater than $8.00 in $0.10 increments, using available cash. The Tender Offer will commence on October 21, 2019 and will expire at 5:00 P.M., on November 20, 2019, unless extended. If the Tender Offer is fully subscribed, Sutter Rock will purchase between 1,250,000 shares and 1,666,667 shares, or between 6.57% and 8.77%, respectively, of Sutter Rock's outstanding shares of its common stock. Any shares tendered may be withdrawn prior to expiration of the Tender Offer. Stockholders that do not wish to participate in the Tender Offer do not need to take any action.
SuRo Capital is an internally-managed, non-diversified closed-end management investment company. Co.'s investment objective is to maximize its portfolio's total return, principally by seeking capital gains on its equity and equity-related investments.
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Strong Buy (4.00 out of 4)