Equus Announces Reports Q2 Net Assets As Of September 30, 2022, Of $36.2M. Net Asset Value Per Share Decreased To $2.68 As Of September 30, 2022, From $2.75 As Of June 30, 2022

Author: Benzinga Newsdesk | November 14, 2022 09:41am

Equus Total Return, Inc. (NYSE:EQS) ("Equus" or the "Company") reports net assets as of September 30, 2022, of $36.2 million. Net asset value per share decreased to $2.68 as of September 30, 2022, from $2.75 as of June 30, 2022. Comparative data is summarized below (in thousands, except per share amounts):  
 

As of the Quarter Ended	9/30/2022	6/30/2022	3/31/2022	12/31/2021	9/30/2021
Net assets	$36,230	$37,155	$37,435	$36,365	$36,243
Shares outstanding	13,518	13,518	13,518	13,518	13,518
Net assets per share	$2.68	$2.75	$2.77	$2.69	$2.68

 

The Company's portfolio investments did not experience a change in fair value during the quarter. The change in net assets was due, in part, to increased professional fees and expense relating to due diligence and the examination of potential transactions that could, if consummated, be transformative for the Company.

Subsequent to the end of the quarter, Equus announced the following:

• Authorization to Withdraw BDC Election. On November 3, 2022, Equus announced that shareholders, collectively holding 7,166,015 shares (53.01% of the Company's issued and outstanding common stock), had authorized the Company's Board of Directors to cause the Company's withdrawal of its election to be classified as a business development company under the Investment Company Act of 1940 as part of a potential strategic transformation of Equus into an operating company. In connection with this authorization, the Company filed an Information Statement with the U.S. Securities and Exchange Commission on Schedule 14C, dated November 3, 2022.  

Posted In: EQS