SuRo Capital Corp. (NASDAQ:SSSS) Q3 2023 Earnings Call Transcript
SuRo Capital Corp. (NASDAQ:SSSS) Q3 2023 Earnings Call Transcript November 8, 2023
Operator: Good day, and welcome to the SuRo Capital's Third Quarter 2023 Earnings Conference Call. Today's call is being recorded. Your lines will be on listen-only. However, you will have the opportunity to ask questions at the end. [Operator Instructions] I will now hand you over to your host Adam Bates to begins today's conference. Thank you.
Adam Bates: Thank you for joining us on today's call. I am joined today by the Chairman and Chief Executive Officer of SuRo Capital, Mark Klein; and Chief Financial Officer, Allison Green. Please note that, a slide presentation corresponding to today's prepared remarks by management is available on our website at www.surocap.com under Investor Relations, Events & Presentations. Today’s call is being recorded and broadcast live on our website, www.surocap.com. Replay information is included in our press release issued today. This call is the property of SuRo Capital and the unauthorized reproduction of this call in any form is strictly prohibited. I would also like to call your attention to customary disclosures in today's earnings press release regarding forward-looking information.
Statements made in today's conference call and webcast may constitute forward-looking statements, which relate to future events or our future performance or financial condition. These statements are not guarantees of our future performance or future financial condition or results and involve a number of risks, estimates, and uncertainties, including the impact of any market volatility that may be detrimental to our business, our portfolio companies, our industry,, and the global economy that could cause actual results to differ materially from the plans, intentions, and expectations reflected in or suggested by the forward-looking statements. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including but not limited to those described from time-to-time in the company’s filings with the SEC.
Management does not undertake to update such forward-looking statements unless required to do so by law. To obtain copies of SuRo Capital's latest SEC filings, please visit our website at www.surocap.com or the SEC’s website at sec.gov. Now, I would like to turn the call over to Mark Klein.
Mark Klein: Thank you, Adam. Good afternoon and thank you for joining us. We are pleased to share the results of SuRo Capital's third quarter 2023. The third quarter of 2023 was characterized by a broad ongoing weakness in the public equity and bond markets. Economic uncertainty has continued into the fourth quarter, although recent reports and commentary from Federal Reserve has led investors believe the Fed may be done or close to done raising interest rates. While the fee be done with interest rate hikes geopolitical unrest, including wars in Israel and Ukraine, coupled with a view that consumers are pulling back has fueled continued volatility in the equity markets. In the first half of the year, we expressed our view that we believe the IPO market could open in Q3, which, in fact, did occur.
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