Equus Announces Third Quarter Net Asset Value
November 13 2019 - 6:18PM
Equus Total Return, Inc. (NYSE: EQS) (the “Fund”
or “Equus”) reports net assets as of September 30, 2019, of $49.0
million, an increase of approximately $1.1 million since June 30,
2019. Net asset value per share increased to $3.63 as of
September 30, 2019 from $3.55 as of June 30, 2019.
Comparative data is summarized below (in thousands, except
per share amounts):
As of the Quarter Ended |
9/30/2019 |
6/30/2019 |
3/31/2019 |
12/31/2018 |
9/30/2018 |
Net assets |
$49,024 |
$47,933 |
$46,552 |
$43,495 |
$46,571 |
Shares outstanding |
13,518 |
13,518 |
13,518 |
13,518 |
13,518 |
Net assets per share |
$3.63 |
$3.55 |
$3.44 |
$3.22 |
$3.45 |
The overall increase in net asset value during
the third quarter of 2019 was principally due to an increase in the
value of the Fund’s shareholding in PalletOne, Inc.
(“PalletOne”). Equus holds an 18.7% fully-diluted share
interest in PalletOne, Inc. (“PalletOne”) one of the nation’s
largest wooden pallet manufacturers and a major supplier of treated
lumber in the southeastern United States. The fair value of
the Fund’s share interest in PalletOne increased from $24.5 million
to $26.5 million during the third quarter of 2019, principally as a
result of strong operational results during the quarter and the
trailing twelve months ended September 30, 2019. The Fund
received advice and assistance from a third-party valuation firm to
support its determination of the fair value of this investment.
About Equus
The Fund is a business development company that
trades as a closed-end fund on the New York Stock Exchange under
the symbol "EQS". Additional information on the Fund may be
obtained from the Fund’s website at www.equuscap.com.
This press release may contain certain
forward-looking statements regarding future circumstances. These
forward-looking statements are based upon the Fund’s current
expectations and assumptions and are subject to various risks and
uncertainties that could cause actual results to differ materially
from those contemplated in such forward-looking statements
including, in particular, the performance of the Fund, including
our ability to achieve our expected financial and business
objectives, and the other risks and uncertainties described in the
Fund’s filings with the SEC. Actual results, events, and
performance may differ. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
to the date hereof. Except as required by law, the Fund undertakes
no obligation to release publicly any revisions to these
forward-looking statements that may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. The inclusion of any statement in this
release does not constitute an admission by the Fund or any other
person that the events or circumstances described in such
statements are material.
Contact:
Patricia Baronowski Pristine Advisers, LLC (631) 756-2486
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