What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2024-11-08 compared with 2024-08-08 · 1084 added, 914 removed, 1625 unchanged (55% of the section changed)

10 unchanged sentences

of $ 20,605,400 and $ 32,775,940 , respectively)

Controlled investments (cost of $ 8,764,352

and $ 18,771,097 , respectively)

Controlled investments

(cost of $ 1,602,940 and $ 18,771,097 , respectively)

Total Portfolio Investments

Investments in U.S.

Treasury bills (cost of

$ 0 and $ 63,792,704 , respectively)

bills (cost of $ 0 and $ 63,792,704 , respectively)

Total Investments (cost of $ 241,532,648 and

$ 276,333,902 , respectively)

Proceeds receivable

Escrow proceeds receivable

1 unchanged sentence

Deferred financing costs

Prepaid expenses and other

expenses and other assets (1)

Accounts payable and accrued

1 unchanged sentence

6.00% Notes due December

6.50% Convertible Notes

due August 14, 2029 (3)

Commitments and contingencies

12 unchanged sentences

( 12,348,772 )

Accumulated net unrealized appreciation/(depreciation)

of investments

Accumulated net unrealized

appreciation/(depreciation) of investments

( 42,467,968 )

2 unchanged sentences

$ 203,357,646

Net Asset Value Per Share

Asset Value Per Share

accompanying notes to condensed consolidated financial statements.

This balance includes a right

of use asset and corresponding operating lease liability, respectively.

Refer to “Note 7—Commitments and Contingencies— Operating

Leases and Related Deposits ” for more detail.

As of June 30, 2024, the 6.00 % Notes due December

30, 2026 (the “ 6.00 % Notes due 2026”) (effective interest rate of 6.53 %) had a face value $ 75,000,000 .

As of December 31,

2023, the 6.00 % Notes due 2026 (effective interest rate of 6.53 %) had a face value $ 75,000,000 .

Refer to “Note 10—Debt

Capital Activities” for a reconciliation of the carrying value to the face value.

balance includes a right of use asset and corresponding operating lease liability, respectively.

Refer to “Note 7—Commitments

and Contingencies— Operating Leases and Related Deposits ” for more detail.

of September 30, 2024, the 6.00 % Notes due December 30, 2026 (the “ 6.00 % Notes due 2026”) (effective interest rate of

6.50 %) had a face value $ 49,746,600 .

As of December 31, 2023, the 6.00 % Notes due 2026 (effective interest rate of 6.53 %) had a face

value $ 75,000,000 .

Refer to “Note 10—Debt Capital Activities” for a reconciliation of the carrying value to the

of September 30, 2024, the 6.50 % Convertible Notes due August 14, 2029 (the “ 6.50 % Convertible Notes due 2029”) (effective

interest rate of 7.16 %) had a face value $ 25,000,000 .

Refer to “Note 10—Debt Capital Activities” for a reconciliation

of the carrying value to the face value.

CAPITAL CORP.

1 unchanged sentence

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

Months Ended June 30,

Months Ended September 30,

INVESTMENT INCOME

6 unchanged sentences

Treasury bills

Total Investment Income

Investment Income

OPERATING EXPENSES

5 unchanged sentences

Other expenses

Total Operating Expenses

Operating Expenses

Investment Loss

3 unchanged sentences

( 10,695,531 )

Realized Gain/(Loss) on

Realized Loss on

Non-controlled/non-affiliated investments

4 unchanged sentences

( 6,598,530 )

( 10,945,024 )

Controlled investments

( 6,786,462 )

( 6,793,207 )

Realized Loss on Investments

1 unchanged sentence

( 1,461,281 )

( 14,167,198 )

( 14,542,137 )

Realized loss on partial

repurchase of 6.00% Notes due December 30, 2026

Change in Unrealized Appreciation/(Depreciation)

3 unchanged sentences

( 24,362,275 )

( 19,876,809 )

( 14,216,377 )

Non-controlled/affiliate investments

( 3,485,172 )

( 5,501,871 )

Controlled investments

1 unchanged sentence

( 13,769,932 )

( 25,384,316 )

Change in Net Assets Resulting from Operations

1 unchanged sentence

$ ( 38,168,774 )

$ ( 32,716,529 )

$ ( 11,003,515 )

Change in Net Assets Resulting from Operations per Common Share:

2 unchanged sentences

accompanying notes to condensed consolidated financial statements.

Includes interest income

earned on cash.

the three and six months ended June 30, 2024 and June 30, 2023, there were no potentially dilutive

interest income earned on cash.

the three and nine months ended September 30, 2024, 3,225,808 potentially dilutive common shares were excluded from the weighted-average

common shares outstanding for diluted net decrease in net assets resulting from operations per common share because the effect of

these shares would have been anti-dilutive.

For the three and nine months ended September 30, 2023, there were no potentially dilutive

securities outstanding.

Refer to “Note 6 — Net Change in Net Assets Resulting from Operations

per Common Share — Basic and Diluted”.

Refer to “Note 6 — Net Change in Net Assets Resulting from Operations per Common Share —

Basic and Diluted”.

CAPITAL CORP.

1 unchanged sentence

CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS (UNAUDITED)

Months Ended June 30,

Months Ended September 30,

Net Assets at

9 unchanged sentences

on investments

Net change in unrealized

appreciation/(depreciation) of investments

change in unrealized appreciation/(depreciation) of investments

( 18,418,370 )

3 unchanged sentences

from Capital Transactions

Stock-based compensation

Change in Net Assets Resulting from Capital Transactions

Total Change in Net Assets

Change in Net Assets

( 21,636,511 )

Net Assets at March 31

Assets at March 31

$ 181,721,135

7 unchanged sentences

( 13,270,199 )

Net change in unrealized

appreciation/(depreciation) of investments

change in unrealized appreciation/(depreciation) of investments

( 6,965,946 )

5 unchanged sentences

Stock-based compensation

Repurchases of common stock

of common stock

( 9,400,000 )

3 unchanged sentences

( 12,730,321 )

Total Change in Net Assets

Change in Net Assets

( 19,408,944 )

( 28,350,345 )

Net Assets at June 30

Assets at June 30

$ 162,312,191

$ 186,692,724

Change in Net Assets Resulting

from Operations

Net investment loss

$ ( 3,207,873 )

$ ( 2,668,426 )

Net realized loss on investments

( 13,713,512 )

( 1,461,281 )

Realized loss on partial

repurchase of 6.00% Notes due 2026

change in unrealized appreciation/(depreciation) of investments

Change in Net Assets Resulting from Operations

( 5,452,245 )

Change in Net Assets Resulting

from Capital Transactions

Stock-based compensation

of common stock

Change in Net Assets Resulting from Capital Transactions

Change in Net Assets

( 4,874,984 )

Assets at September 30

$ 157,437,207

$ 211,971,043

Capital Share Activity

4 unchanged sentences

( 3,186,493 )

Shares Outstanding at End of Period

Shares Outstanding

at End of Period

accompanying notes to condensed consolidated financial statements.

Refer to “Note 11 —

Stock-Based Compensation” for more detail.

to “Note 11 — Stock-Based Compensation” for more detail.

CAPITAL CORP.

1 unchanged sentence

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

Months Ended June 30,

Cash Flows from Operating Activities

Months Ended September 30,

Cash Flows from Operating

Net change in net assets resulting

1 unchanged sentence

$ ( 38,168,774 )

$ ( 11,003,515 )

Adjustments to reconcile

net change in net assets resulting from operations to net cash provided by/(used in) operating activities:

net change in net assets resulting from operations to net cash provided by operating activities:

Net realized loss on investments

4 unchanged sentences

on 6.00 % Notes due 2026

Amortization of discount

on 6.50 % Convertible Notes due 2029

Stock-based compensation

12 unchanged sentences

Treasury bills

Change in operating assets

and liabilities:

Prepaid expenses and other

Interest and dividends

Change in operating assets and liabilities:

Proceeds receivable

Escrow proceeds receivable

Accounts payable and accrued

Net Cash Provided by/(Used

in) Operating Activities

( 1,967,046 )

Prepaid expenses and other

Interest and dividends

payable and accrued expenses

Cash Provided by Operating Activities

Cash Flows from Financing

Gross proceeds from the

issuance of 6.50 % Convertible Notes due 2029

Deferred debt issuance costs

Repurchases of 6.00 % Notes

( 25,028,770 )

Realized loss on partial

repurchase of 6.00 % Notes due 2026

Repurchases of common stock

2 unchanged sentences

Cash dividends paid

Net Cash Used in Financing

( 9,507,823 )

Cash Used in Financing Activities

( 10,258,089 )

Total Increase/(Decrease)

in Cash Balance

( 14,286,508 )

Cash Balance at Beginning of Year

Cash Balance at End of Period

Supplemental Information:

Increase in Cash Balance

Cash Balance at Beginning

Balance at End of Period

Interest paid

Right of use asset obtained in exchange for operating lease liabilities

accompanying notes to condensed consolidated financial statements.

5 unchanged sentences

of Initial Investment

Principal/Quantity (5)

NON-CONTROLLED/NON-AFFILIATE

1 unchanged sentence

Redwood City, CA

Preferred shares,

Preferred shares, Series A 8%

Online Education

Preferred shares, Series C

Preferred shares, Series

Online Education

Preferred shares, Series A

CW Opportunity 2 LP **(8)

Membership Interest, Class A *** **(8)

AI Infrastructure Fund

Type One Deep Ventures Fund LLC **(9)

Petersburg, FL

Membership Interest, Class A **(9)

AI Application Fund

Preferred shares, Series

Pharmaceutical Technology

Preferred shares, Series C

Preferred shares, Series

Pharmaceutical Technology

CW Opportunity

Class A Interest **(16)

GPUs-as-a-Service

ServiceTitan,

1 unchanged sentence

Contractor Management Software

Preferred shares, Series C

Fitness Technology

Robotics Corp.

2 unchanged sentences

Warehouse Automation

Common shares

Supply Chain Technology

(d/b/a Liquid Death)

5 unchanged sentences

Productivity Software

Preferred shares, Series C

Fitness Technology

Common shares

Supply Chain Technology

Enterprises, Inc.

8 unchanged sentences

Home Improvement Finance

Common Warrants, Strike Price

$0.01, Expiration Date 7/12/2026

Common Warrants, Strike

Price $0.01, Expiration Date 7/12/2026

Home Improvement Finance

CoreWeave, Inc.

Common shares

AI Infrastructure

PSQ Holdings,

(d/b/a PublicSquare)

West Palm Beach, FL

Common shares, Class A (3)

E-Commerce Marketplace

Warrants, Strike Price $11.50, Expiration Date 7/19/2028 (3)

Holdings, Inc.

1 unchanged sentence

San Francisco, CA

Junior Preferred shares, Series

Junior Preferred shares, Series 1-D

Micromobility

Junior Preferred Convertible

Note 4% Due 5/11/2027 ***

Preferred Convertible Note 4% Due 5/11/2027*** ***

Micromobility

Common Warrants, Strike Price

$0.01, Expiration Date 5/11/2027

Common Warrants, Strike

Price $0.01, Expiration Date 5/11/2027

Micromobility

3 unchanged sentences

Venture Investment Fund

accompanying notes to condensed consolidated financial statements.

CAPITAL CORP.

AND SUBSIDIARIES

CONSOLIDATED SCHEDULE OF INVESTMENTS (UNAUDITED) - continued

Investments *

Headquarters/

Industry (15)

of Initial Investment

Principal/Quantity (5)

Technologies, Inc.

12 unchanged sentences

Mobile Access Technology

accompanying notes to condensed consolidated financial statements.

CAPITAL CORP.

AND SUBSIDIARIES

CONSOLIDATED SCHEDULE OF INVESTMENTS (UNAUDITED) - continued

Investments *

Headquarters/

of Initial Investment

Singapore, Singapore

Common shares **

Retail Technology

Preferred shares, Investec

Retail Technology

Homes for Rent, LLC (d/b/a Second Avenue) (11)

Preferred shares, Series A (11)

Real Estate Platform

Holdings Limited (d/b/a Xpoint) (7)(12)

2 unchanged sentences

Geolocation Technology

Series A-1 Warrants, Strike

Price $0.0001, Expiration Date 5/14/2044 (7)(15)

Series A-1 Warrants, Strike Price $0.0001,

Expiration Date 5/14/2044 (7)(12)

Series A Warrants, Strike

Price $0.0001, Expiration Date 5/14/2044 (7)(12)

Total (7)(12)

1 unchanged sentence

Common shares (3) (3)

Financial Services

San Francisco, CA

Common shares (3) ** (3)

Online Marketplace Finance

2 unchanged sentences

Advanced Nuclear Technology

San Francisco, CA

Common shares **

Financial Services

Property Group, Inc.

1 unchanged sentence

Cannabis REIT

Homes for Rent, LLC (d/b/a Second Avenue) (6)

Preferred shares, Series A (6)

Real Estate Platform

Streaming Solutions Inc.

1 unchanged sentence

Las Vegas, NV

Simple Agreement for Future

Simple Agreement for Future Equity (7)

Interactive Media & Services

(d/b/a Prophet Exchange) (7)

Simple Agreement for Future

Simple Agreement for Future Equity (7)

Sports Betting

5 unchanged sentences

Gaming Technology

Sponsor VII LLC ** (10)(14)

Common share units ** (10)(14)

Special Purpose Acquisition

Warrant units ** (10)(14)

Special Purpose Acquisition

Total ** (10)(14)

(d/b/a Compliable) (7)

5 unchanged sentences

Social Data Platform

Technology, Inc.

(d/b/a FanPower) (7)

Preferred shares, Series Seed-2 (7)

Digital Media Technology

Singapore, Singapore

Common shares **

Retail Technology

Preferred shares, Investec

Retail Technology

Holdings, Inc.

1 unchanged sentence

Marina Del Rey, CA

Preferred shares, Series A

Preferred shares, Series

Carbon Credit Services

Preferred shares, Series C-3

Carbon Credit Services

Cambridge, MA

Common shares

Business Education

Promissory Note 1.47%, Due

11/9/2021 (4)(11) (4)(11)

Business Education

Credit Services

accompanying notes to condensed consolidated financial statements.

4 unchanged sentences

Headquarters/

Industry (15)

of Initial Investment

Principal/Quantity (5)

Cambridge, MA

Common shares

Business Education

Note 1.47%, Due 11/9/2021 (4)(14) (4)(14)

Business Education

Real Estate Investment Trust, Inc.

9 unchanged sentences

Preferred shares, Series C 8% (1)(15)

Interactive Learning

Preferred shares, Series B 8% (1)(15)

Interactive Learning

Preferred shares, Series A

Interactive Learning

Holdings, Inc.

(d/b/a PublicSquare) **

West Palm Beach, FL

Common shares, Class A (3)(13) **

E-Commerce Marketplace

Warrants, Strike Price $11.50,

Expiration Date 7/19/2028 (3) **

E-Commerce Marketplace

(f/k/a NestGSV, Inc.)

San Mateo, CA

Derivative Security, Expiration

Date 8/23/2024 (9)

Global Innovation Platform

Convertible Promissory Note

8% Due 8/23/2024 (4)

Global Innovation Platform

Preferred shares, Series

Total (1)(15)

Research, Inc.

2 unchanged sentences

Knowledge Networks

Preferred shares, Series B

Preferred shares, Series

Knowledge Networks

7 unchanged sentences

Class B Units **(2)(6)

Special Purpose Acquisition

Special Purpose Acquisition Company

Class W Units **(2)(6)

1 unchanged sentence

Total **(2)(6)

(f/k/a GSV Sustainability Partners, Inc.)

Cupertino, CA

Preferred shares, Class A (2)

Clean Technology

Common shares (2)

Clean Technology

Controlled (2)

3 unchanged sentences

accompanying notes to condensed consolidated financial statements.

All portfolio investments

are non-control/non-affiliated and non-income-producing, unless otherwise identified.

Equity investments may be subject to lock-up restrictions

upon their initial public offering (“IPO”).

Preferred dividends are generally only payable when declared and paid by the

portfolio company’s board of directors.

The Company’s directors, officers, employees and staff, as applicable, may serve

on the board of directors of the Company’s portfolio investments.

(Refer to “Note 3—Related-Party Arrangements”).

All portfolio investments are considered Level 3 and valued using significant unobservable inputs, unless otherwise noted.

“Note 4—Investments at Fair Value”).

All of the Company’s portfolio investments are restricted as to resale,

unless otherwise noted, and were valued at fair value as determined in good faith by the Company’s Board of Directors.

to “Note 2—Significant Accounting Policies— Investments at Fair Value ”).

Indicates assets that SuRo Capital Corp.

do not represent “qualifying assets” under Section 55(a) of the Investment Company Act of 1940, as amended (the “1940

Of the Company’s total investments as of June 30, 2024, 24.20 % of its total investments are non-qualifying assets.

is income-producing.

CAPITAL CORP.

1 unchanged sentence

CONSOLIDATED SCHEDULE OF INVESTMENTS (UNAUDITED) - continued

“Affiliate Investments” are investments

in those companies that are “Affiliated Companies” of SuRo Capital Corp., as defined in the 1940 Act.

In general, a company

is deemed to be an “Affiliate” of SuRo Capital Corp.

portfolio investments are non-control/non-affiliated and non-income-producing, unless otherwise identified.

Equity investments may

be subject to lock-up restrictions upon their initial public offering (“IPO”).

Preferred dividends are generally only

payable when declared and paid by the portfolio company’s board of directors.

The Company’s directors, officers, employees

and staff, as applicable, may serve on the board of directors of the Company’s portfolio investments.

(Refer to “Note

3—Related-Party Arrangements”).

All portfolio investments are considered Level 3 and valued using significant unobservable

inputs, unless otherwise noted.

(Refer to “Note 4—Investments at Fair Value”).

All of the Company’s portfolio

investments are restricted as to resale, unless otherwise noted, and were valued at fair value as determined in good faith by the

Company’s Board of Directors.

(Refer to “Note 2—Significant Accounting Policies— Investments at Fair Value ”).

assets that SuRo Capital Corp.

believes do not represent “qualifying assets” under Section 55(a) of the Investment Company

Act of 1940, as amended (the “1940 Act”).

Of the Company’s total investments as of September 30, 2024, 28.23 % of

its total investments are non-qualifying assets.

is income-producing.

Investments” are investments in those companies that are “Affiliated Companies” of SuRo Capital Corp., as defined

in the 1940 Act.

In general, a company is deemed to be an “Affiliate” of SuRo Capital Corp.

if SuRo Capital Corp.

beneficially owns, directly or indirectly, between

5% and 25% of the voting securities ( i.e.

, securities with the right to elect directors) of such company.

For the Schedule of

Investments In, and Advances To, Affiliates, as required by SEC Regulation S-X, Rule 12-14, refer to “Note 4—Investments

at Fair Value”.

“Control Investments”

are investments in those companies that are “Controlled Companies” of SuRo Capital Corp., as defined in the 1940 Act.

general, under the 1940 Act, the Company would “Control” a portfolio company if the Company beneficially owns, directly

or indirectly, more than 25% of its outstanding voting securities (i.e., securities with the right to elect directors) and/or had the

power to exercise control over the management or policies of such portfolio company.

For the Schedule of Investments In, and Advances

To, Affiliates, as required by SEC Regulation S-X, Rule 12-14, refer to “Note 4—Investments at Fair Value”.

Denotes an investment considered Level 1 or

Level 2 and valued using observable inputs.

owns, directly or indirectly, between 5% and 25% of the voting securities ( i.e.

, securities with the right to elect directors)

of such company.

For the Schedule of Investments In, and Advances To, Affiliates, as required by SEC Regulation S-X, Rule 12-14,

refer to “Note 4—Investments at Fair Value”.

As of June 30, 2024, the investments noted

had been placed on non-accrual status.

SuRo Capital Corp.’s investments in

StormWind, LLC are held through SuRo Capital Corp.’s wholly owned subsidiary, GSVC SW Holdings, Inc.

SuRo Capital Corp.’s investment in Residential Homes for Rent, LLC (d/b/a Second Avenue) is held through SuRo Capital Corp.’s wholly owned subsidiary,

GSVC AV Holdings, Inc.

SuRo Capital Corp.’s

investments in Commercial Streaming Solutions Inc.

(d/b/a BettorView), YouBet Technology, Inc.

(d/b/a FanPower), Rebric, Inc.

Compliable), EDGE Markets, Inc., Xgroup Holdings Limited (d/b/a Xpoint), and Stake Trade, Inc.

(d/b/a Prophet Exchange) are held through

SuRo Capital Corp.’s wholly owned subsidiary, SuRo Capital Sports, LLC (“SuRo Sports”).

SuRo Capital Corp.’s investments in

True Global Ventures 4 Plus Pte Ltd are held through SuRo Capital Corp.’s wholly owned subsidiary, GSVC SVDS Holdings, Inc.

On August 23, 2019, SuRo

Capital Corp.

amended the structure of its investment in OneValley, Inc.

(f/k/a NestGSV, Inc.).

As part of the agreement, SuRo Capital

Corp.’s equity holdings (warrants notwithstanding) were restructured into a derivative security.

OneValley, Inc.

(f/k/a NestGSV,

Inc.) has the right to call the position at any time over a five year period, ending August 23, 2024, while SuRo Capital Corp.

put the shares to OneValley, Inc.

(f/k/a NestGSV, Inc.) at the end of the five year period.

Denotes an investment that

is the sponsor of a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset

acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

On November 9, 2021, Fullbridge,

Inc.’s obligations under its financing arrangements with the Company became past due.

Investments” are investments in those companies that are “Controlled Companies” of SuRo Capital Corp., as defined

in the 1940 Act.

In general, under the 1940 Act, the Company would “Control” a portfolio company if the Company beneficially

owns, directly or indirectly, more than 25% of its outstanding voting securities (i.e., securities with the right to elect directors)

and/or had the power to exercise control over the management or policies of such portfolio company.

For the Schedule of Investments

In, and Advances To, Affiliates, as required by SEC Regulation S-X, Rule 12-14, refer to “Note 4—Investments at Fair

an investment considered Level 1 or Level 2 and valued using observable inputs.

Refer to “Note 4—Investments at Fair

of September 30, 2024, the investments noted had been placed on non-accrual status.

Represents the respective number of shares, principal amount, fund commitment, or membership interest.

Denotes an investment that is the sponsor of a special purpose acquisition company formed for the purpose of effecting

a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

SuRo Capital Corp.’s investments in Commercial Streaming Solutions Inc.

(d/b/a BettorView),

(d/b/a Compliable), EDGE Markets, Inc., Xgroup Holdings Limited (d/b/a Xpoint), and Stake Trade, Inc.

(d/b/a Prophet

Exchange) are held through SuRo Capital Corp.’s wholly owned subsidiary, SuRo Capital Sports, LLC (“SuRo

(8) CW Opportunity 2 LP is a special purpose vehicle (“SPV”) for

which the Class A Interest is solely invested in the Series C Preferred Shares of CoreWeave, Inc.

SuRo Capital is invested in the

Series C Preferred Shares of CoreWeave, Inc.

through its investment in the Class A Interest of CW Opportunity 2 LP.

Preferred Shares of CoreWeave, Inc.

accrue a 10 %

per annum dividend, paid quarterly in cash or in-kind.

The SPV does not charge a management fee but does charge an incentive fee of 20 %,

subject to an annual 15 %

IRR hurdle rate.

(9) ARK Type One Deep Ventures Fund LLC is an investment fund for which the

Class A Interest is solely invested in the Convertible Equity of OpenAI Global, LLC.

SuRo Capital Corp.

is invested in the

Convertible Equity of OpenAI Global, LLC through its investment in the Class A Interest of ARK Type One Deep Ventures Fund LLC.

Type One Deep Ventures Fund LLC charges a 1 %

management fee per year, and an incentive fee of 10 %.

The management fees will adjust the cost of SuRo Capital Corp.’s investment in the fund.

(10) SuRo Capital Corp.’s investments in True Global Ventures 4 Plus Pte Ltd are held through SuRo Capital

Corp.’s wholly owned subsidiary, GSVC SVDS Holdings, Inc.

(11) SuRo Capital Corp.’s investment in Residential Homes for Rent, LLC (d/b/a Second Avenue) is held

through SuRo Capital Corp.’s wholly owned subsidiary, GSVC AV Holdings, Inc.

(12) On May 14, 2024, as part of Xgroup Holding Limited (d/b/a Xpoint)’s most recent financing round,

SuRo Capital Corp.’s 6% Convertible Note due October 17, 2024 was converted into Series A Warrants, Series A-1 Warrants, and Series

(13) On May 7, 2024, AltC Acquisition Corp.

stockholders approved a business combination with Oklo, Inc.

(“AltC”) stockholders approved a business combination

with Oklo, Inc.

(“Oklo”) and related proposals at a special meeting.

9, 2024, Oklo announced that it had consummated the business combination with AltC pursuant to a merger agreement between the

parties, creating the resultant combined company Oklo, Inc.

Upon closing of the business combination with Oklo, SuRo Capital Corp.’s Class A common shares and Class B common shares

were converted into Class A shares of the post-closing company.

On May 9, 2024, Oklo announced that it had consummated

the business combination with AltC pursuant to a merger agreement between the parties, creating the resultant combined company Oklo, Inc.

Upon closing of the business combination with Oklo, SuRo Capital Corp.’s Class A common shares and Class B common shares of AltC

Sponsor LLC were converted into Class A shares of the post-closing company.

SuRo Capital Corp.’s shares of Oklo, Inc.

are subject to

certain vesting conditions.

Capital Corp.’s shares of PSQ Holdings, Inc.

(d/b/a PublicSquare) Class A Common shares are subject to contractual sale restrictions

in the form of a lock-up agreement applicable to the common shares after the company’s IPO.

The lock-up agreement expires on July 19, 2024.

On August 1, 2023, Churchill Capital Corp.

VII announced it signed a definitive agreement to merge with CorpAcq Holdings Limited.

The fair value of SuRo Capital Corp.’s

Churchill Sponsor VII LLC position is adjusted for certain lock-up provisions.

On May 14, 2024,

as part of the most recent financing round, the 6% Convertible Note due October 17, 2024 which SuRo Capital Corp.

previously extended

to Xgroup Holdings Limited (d/b/a Xpoint) converted into Series A Warrants, Series A-1 Warrants, and Series A-1 Shares.

CW Opportunity 2 LP is a special purpose vehicle that is invested in the Series C Preferred Shares of CoreWeave, Inc.

to certain vesting conditions.

(14) On November 9, 2021, Fullbridge, Inc.’s obligations under its financing arrangements with the Company

became past due.

(15) SuRo Capital Corp.’s investments in StormWind, LLC are held through SuRo Capital Corp.’s wholly

owned subsidiary, GSVC SW Holdings, Inc.

CAPITAL CORP.

7 unchanged sentences

Redwood City, CA

Preferred shares,

Preferred shares, Series A 8%

Online Education

Preferred shares, Series C

Preferred shares, Series

Online Education

2 unchanged sentences

Contractor Management Software

Preferred shares, Series A

Preferred shares, Series

Pharmaceutical Technology

Preferred shares, Series C

Preferred shares, Series

Pharmaceutical Technology

10 unchanged sentences

Preferred shares, Series B-2 (13)

Home Improvement Finance

Improvement Finance

Preferred shares, Series B-3 (13)

2 unchanged sentences

Home Improvement Finance

Common Warrants, Strike Price

$0.01, Expiration Date 7/12/2026 (13)

Common Warrants, Strike

Price $0.01, Expiration Date 7/12/2026 (13)

Home Improvement Finance

17 unchanged sentences

San Francisco, CA

Junior Preferred shares, Series

Junior Preferred shares, Series 1-D

Micromobility

Junior Preferred Convertible

Note 4% Due 5/11/2027 *** ***

Preferred Convertible Note 4% Due 5/11/2027 *** ***

Micromobility

Common Warrants, Strike Price

$0.01, Expiration Date 5/11/2027

Common Warrants, Strike

Price $0.01, Expiration Date 5/11/2027

Micromobility

30 unchanged sentences

Las Vegas, NV

Simple Agreement for Future

Simple Agreement for Future Equity (7)

Interactive Media & Services

(d/b/a Prophet Exchange) (7)

Simple Agreement for Future

Simple Agreement for Future Equity (7)

Sports Betting

1 unchanged sentence

Common shares, Class B **(10)(14)

Special Purpose Acquisition

shares, Class A **(10)(14)

Special Purpose Acquisition Company

Common shares, Class A **(10)(14)

Special Purpose Acquisition

11 unchanged sentences

Common share units **(10)

Special Purpose Acquisition

Special Purpose Acquisition Company

Warrant units **(10)

Special Purpose Acquisition

2 unchanged sentences

Common shares, Class B (3) **(3)

Social Networking

Technology, Inc.

6 unchanged sentences

Social Data Platform

Singapore, Singapore

Common shares **

shares, Investec Series **

Retail Technology

Preferred shares, Investec

Retail Technology

Partners, Inc.

shares, Series A

Marina Del Rey, CA

Preferred shares, Series

Financial Services

Preferred shares, Series C-3

Financial Services

Cambridge, MA

6 unchanged sentences

Cannabis REIT

Total Non-controlled/Non-affiliate

Non-controlled/Non-affiliate

$ 160,994,161

9 unchanged sentences

Scottsdale, AZ

Preferred shares,

Series D 8% (1)(5)

Preferred shares, Series D 8% (1)(5)

Interactive Learning

3 unchanged sentences

Interactive Learning

Preferred shares, Series A

Preferred shares, Series

Interactive Learning

7 unchanged sentences

E-Commerce Marketplace

Total **(1)(3)(15)

(f/k/a NestGSV, Inc.)

3 unchanged sentences

Global Innovation Platform

Convertible Promissory Note

8% Due 8/23/2024 (4) (1)(4)

Promissory Note 8% Due 8/23/2024 (4) (1)(4)

Global Innovation Platform

3 unchanged sentences

Knowledge Networks

Preferred shares, Series B (1)

Preferred shares, Series

Knowledge Networks

6 unchanged sentences

San Francisco, CA

Membership Interest in Lending

SPV*** ** (2)***

Membership Interest in Lending SPV*** **(2)***

Mobile Finance Technology

2 unchanged sentences

Class B Units **(2)(10)

Special Purpose Acquisition

Special Purpose Acquisition Company

Class W Units **(2)(10)

6 unchanged sentences

Common shares (2)

Clean Technology

Controlled (2)

3 unchanged sentences

Treasury bill, 0%, due 3/28/2024*** (3)***

3/28/2024*** (3)***

Treasury bill, 0%, due

6/27/2024*** (3)***

TOTAL INVESTMENTS

Treasury bill, 0%,

due 6/27/2024*** (3)***

$ 276,333,902

1 unchanged sentence

accompanying notes to condensed consolidated financial statements.

All portfolio investments

are non-control/non-affiliated and non-income-producing, unless otherwise identified.

Equity investments are subject to lock-up restrictions

upon their initial public offering (“IPO”).

Preferred dividends are generally only payable when declared and paid by the

portfolio company’s board of directors.

The Company’s directors, officers, employees and staff, as applicable, may serve

on the board of directors of the Company’s portfolio investments.

(Refer to “Note 3—Related-Party Arrangements”).

All portfolio investments are considered Level 3 and valued using significant unobservable inputs, unless otherwise noted.

“Note 4—Investments at Fair Value”).

All of the Company’s portfolio investments are restricted as to resale,

unless otherwise noted, and were valued at fair value as determined in good faith by the Company’s Board of Directors.

to “Note 2—Significant Accounting Policies— Investments at Fair Value ”).

Indicates assets that SuRo Capital Corp.

do not represent “qualifying assets” under Section 55(a) of the Investment Company Act of 1940, as amended (the “1940

Of the Company’s total investments as of December 31, 2023, 14.03 % of its total investments are non-qualifying assets.

Investment is income-producing.

CAPITAL CORP.

1 unchanged sentence

CONSOLIDATED SCHEDULE OF INVESTMENTS - continued

“Affiliate Investments” are investments

in those companies that are “Affiliated Companies” of SuRo Capital Corp., as defined in the 1940 Act.

In general, a company

is deemed to be an “Affiliate” of SuRo Capital Corp.

portfolio investments are non-control/non-affiliated and non-income-producing, unless otherwise identified.

Equity investments are

subject to lock-up restrictions upon their initial public offering (“IPO”).

Preferred dividends are generally only payable

when declared and paid by the portfolio company’s board of directors.

The Company’s directors, officers, employees and

staff, as applicable, may serve on the board of directors of the Company’s portfolio investments.

(Refer to “Note 3—Related-Party

Arrangements”).

All portfolio investments are considered Level 3 and valued using significant unobservable inputs, unless otherwise

(Refer to “Note 4—Investments at Fair Value”).

All of the Company’s portfolio investments are restricted

as to resale, unless otherwise noted, and were valued at fair value as determined in good faith by the Company’s Board of Directors.

(Refer to “Note 2—Significant Accounting Policies— Investments at Fair Value ”).

assets that SuRo Capital Corp.

believes do not represent “qualifying assets” under Section 55(a) of the Investment Company

Act of 1940, as amended (the “1940 Act”).

Of the Company’s total investments as of December 31, 2023, 14.03 % of

its total investments are non-qualifying assets.

is income-producing.

Investments” are investments in those companies that are “Affiliated Companies” of SuRo Capital Corp., as defined

in the 1940 Act.

In general, a company is deemed to be an “Affiliate” of SuRo Capital Corp.

if SuRo Capital Corp.

beneficially owns, directly or indirectly, between

5% and 25% of the voting securities ( i.e.

, securities with the right to elect directors) of such company.

For the Schedule of

Investments In, and Advances To, Affiliates, as required by SEC Regulation S-X, Rule 12-14, refer to “Note 4—Investments

at Fair Value”.

“Control Investments” are investments

in those companies that are “Controlled Companies” of SuRo Capital Corp., as defined in the 1940 Act.

In general, under

the 1940 Act, the Company would “Control” a portfolio company if the Company beneficially owns, directly or indirectly,

more than 25% of its outstanding voting securities (i.e., securities with the right to elect directors) and/or had the power to exercise

control over the management or policies of such portfolio company.

For the Schedule of Investments In, and Advances To, Affiliates,

as required by SEC Regulation S-X, Rule 12-14, refer to “Note 4—Investments at Fair Value”.

Denotes an investment considered Level 1 or

Level 2 and valued using observable inputs.

owns, directly or indirectly, between 5% and 25% of the voting securities ( i.e.

, securities with the right to elect directors)

of such company.

For the Schedule of Investments In, and Advances To, Affiliates, as required by SEC Regulation S-X, Rule 12-14,

refer to “Note 4—Investments at Fair Value”.

As of December 31, 2023,

the investments noted had been placed on non-accrual status.

SuRo Capital Corp.’s investments in

StormWind, LLC are held through SuRo Capital Corp.’s wholly owned subsidiary, GSVC SW Holdings, Inc.

SuRo Capital Corp.’s investment in preferred

shares of Residential Homes for Rent, LLC (d/b/a Second Avenue) are held through SuRo Capital Corp.’s wholly owned subsidiary,

GSVC AV Holdings, Inc.

SuRo Capital Corp.’s investments in

Commercial Streaming Solutions Inc.

Investments” are investments in those companies that are “Controlled Companies” of SuRo Capital Corp., as defined

in the 1940 Act.

In general, under the 1940 Act, the Company would “Control” a portfolio company if the Company beneficially

owns, directly or indirectly, more than 25% of its outstanding voting securities (i.e., securities with the right to elect directors)

and/or had the power to exercise control over the management or policies of such portfolio company.

For the Schedule of Investments

In, and Advances To, Affiliates, as required by SEC Regulation S-X, Rule 12-14, refer to “Note 4—Investments at Fair

an investment considered Level 1 or Level 2 and valued using observable inputs.

Refer to “Note 4—Investments at Fair

of December 31, 2023, the investments noted had been placed on non-accrual status.

Capital Corp.’s investments in StormWind, LLC are held through SuRo Capital Corp.’s wholly owned subsidiary, GSVC SW

Holdings, Inc.

Capital Corp.’s investment in preferred shares of Residential Homes for Rent, LLC (d/b/a Second Avenue) are held through SuRo

Capital Corp.’s wholly owned subsidiary, GSVC AV Holdings, Inc.

Capital Corp.’s investments in Commercial Streaming Solutions Inc.

(d/b/a BettorView), YouBet Technology, Inc.

(d/b/a FanPower), Rebric, Inc.

(d/b/a Compliable),

EDGE Markets, Inc., Xgroup Holdings Limited (d/b/a Xpoint), and Stake Trade, Inc.

(d/b/a Prophet Exchange) are held through SuRo Capital

Corp.’s wholly owned subsidiary, SuRo Capital Sports, LLC (“SuRo Sports”).

SuRo Capital Corp.’s investments in

True Global Ventures 4 Plus Pte Ltd are held through SuRo Capital Corp.’s wholly owned subsidiary, GSVC SVDS Holdings, Inc.

March 31, 2023, the previously unfunded capital commitment of $ 1.3 million was deemed fully contributed in lieu of cash distributions.

On March 31, 2023, the full $ 2.0 million capital commitment to True Global Ventures 4 Plus Fund LP had been called and funded.

On August 23, 2019, SuRo

Capital Corp.

(d/b/a FanPower),

(d/b/a Compliable), EDGE Markets, Inc., Xgroup Holdings Limited (d/b/a Xpoint), and Stake Trade, Inc.

(d/b/a Prophet

Exchange) are held through SuRo Capital Corp.’s wholly owned subsidiary, SuRo Capital Sports, LLC (“SuRo Sports”).

Capital Corp.’s investments in True Global Ventures 4 Plus Pte Ltd are held through SuRo Capital Corp.’s wholly owned

subsidiary, GSVC SVDS Holdings, Inc.

On March 31, 2023, the previously unfunded capital commitment of $ 1.3 million was deemed fully

contributed in lieu of cash distributions.

On March 31, 2023, the full $ 2.0 million capital commitment to True Global Ventures 4

Plus Fund LP had been called and funded.

August 23, 2019, SuRo Capital Corp.

amended the structure of its investment in OneValley, Inc.

(f/k/a NestGSV, Inc.).

As part of the agreement, SuRo Capital

Corp.’s equity holdings (warrants notwithstanding) were restructured into a derivative security.

the agreement, SuRo Capital Corp.’s equity holdings (warrants notwithstanding) were restructured into a derivative security.

OneValley, Inc.

(f/k/a NestGSV,

Inc.) has the right to call the position at any time over a five year period, ending August 23, 2024, while SuRo Capital Corp.

put the shares to OneValley, Inc.

(f/k/a NestGSV, Inc.) has the right to call the position at any time over a five year period, ending August 23, 2024,

while SuRo Capital Corp.

can put the shares to OneValley, Inc.

(f/k/a NestGSV, Inc.) at the end of the five year period.

Denotes an investment that

is the sponsor of a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset

acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

On November 9, 2021, Fullbridge, Inc.’s

obligations under its financing arrangements with the Company became past due.

On January 13, 2023, SuRo Capital Corp.

$ 2.0 million in Orchard Technologies, Inc.’s Series 1 Senior Preferred financing round.

As part of the transaction, SuRo Capital

exchanged a portion of its existing Series D Preferred shares investment for Series 1 Senior Preferred shares, Series 2 Senior

Preferred shares, and Common shares.

Additionally, SuRo Capital Corp.’s previous investment in the Simple Agreement for Future

Equity was converted into additional Series 1 Senior Preferred shares.

On July 12, 2023, SuRo Capital

an investment that is the sponsor of a special purpose acquisition company formed for the purpose of effecting a merger, capital

stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

November 9, 2021, Fullbridge, Inc.’s obligations under its financing arrangements with the Company became past due.

January 13, 2023, SuRo Capital Corp.

invested $ 2.0 million in Orchard Technologies, Inc.’s Series 1 Senior Preferred financing

As part of the transaction, SuRo Capital Corp.

exchanged a portion of its existing Series D Preferred shares investment for

Series 1 Senior Preferred shares, Series 2 Senior Preferred shares, and Common shares.

Additionally, SuRo Capital Corp.’s previous

investment in the Simple Agreement for Future Equity was converted into additional Series 1 Senior Preferred shares.

July 12, 2023, SuRo Capital Corp.

invested $ 0.5 million in Shogun Enterprises, Inc.

(d/b/a Hearth)’s Series B-4 Preferred financing round.

As part of the

transaction, the previous investment in the Convertible Note was converted into Series B-3 Preferred shares.

Additionally, SuRo Capital

(d/b/a Hearth)’s Series B-4 Preferred financing

As part of the transaction, the previous investment in the Convertible Note was converted into Series B-3 Preferred shares.

Additionally, SuRo Capital Corp.

received Common Warrants as part of the transaction.

On July 11, 2023, AltC Acquisition Corp.

it signed a definitive agreement to merge with Oklo, Inc.

As part of the transaction, SuRo Capital Corp.’s Share units converted

to 24,900 Class A Common shares and 214,400 Class B Common shares.

On July 19, 2023, Colombier Acquisition Corp.

(“Colombier”) stockholders approved a business combination with PSQ Holdings, Inc.

(d/b/a PublicSquare) and related proposals

at a special meeting.

July 11, 2023, AltC Acquisition Corp.

announced it signed a definitive agreement to merge with Oklo, Inc.

As part of the transaction,

SuRo Capital Corp.’s Share units converted to 24,900 Class A Common shares and 214,400 Class B Common shares.

July 19, 2023, Colombier Acquisition Corp.

(“Colombier”) stockholders approved a business combination with PSQ Holdings,

(d/b/a PublicSquare) and related proposals at a special meeting.

Also on July 19, 2023, PSQ Holdings, Inc.

announced that it had consummated the business combination with Colombier

pursuant to a merger agreement between the parties, creating the resultant combined company PSQ Holdings, Inc.

announced that it

had consummated the business combination with Colombier pursuant to a merger agreement between the parties, creating the resultant

combined company PSQ Holdings, Inc.

(d/b/a PublicSquare).

SuRo Capital Corp.’s shares of PSQ Holdings, Inc.

(d/b/a PublicSquare) Class A Common shares are subject to certain restrictions

on transfer, while the Company’s PSQ Holdings, Inc.

warrants are freely tradable.

(d/b/a PublicSquare)

Class A Common shares are subject to certain restrictions on transfer, while the Company’s PSQ Holdings, Inc.

freely tradable.

CAPITAL CORP.

1 unchanged sentence

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2024

1— NATURE OF OPERATIONS

14 unchanged sentences

The Company began its investment operations during the second quarter of 2011.

table below displays the Company’s subsidiaries as of June 30, 2024, which, other than GSV Capital Lending, LLC (“GCL”)

table below displays the Company’s subsidiaries as of September 30, 2024, which, other than GSV Capital Lending, LLC (“GCL”)

and SuRo Capital Sports, LLC, are collectively referred to as the “Taxable Subsidiaries.” The Taxable Subsidiaries were formed

7 unchanged sentences

Incorporation

Capital Sports, LLC (“SuRo Sports”)

below are referred to collectively as the “Taxable Subsidiaries”

AE Holdings, Inc.

AV Holdings, Inc.

SW Holdings, Inc.

SVDS Holdings, Inc.

Company’s investment objective is to maximize its portfolio’s total return, principally by seeking capital gains on its

equity and equity-related investments, and to a lesser extent, income from debt investments.

The Company invests principally in the

equity securities of what it believes to be rapidly growing venture capital-backed emerging companies.

The Company may invest in

these portfolio companies through direct offerings of the prospective portfolio companies, transactions on secondary marketplaces

for private companies, or negotiations with selling stockholders.

In addition, the Company may invest in private credit and in

founders equity, founders warrants, forward purchase agreements, and private investment in public equity transactions of special

purpose acquisition companies (“SPACs”).

The Company may also invest on an opportunistic basis in select publicly traded

equity securities or certain non-U.S.

companies that otherwise meet its investment criteria, subject to any applicable limitations

under the 1940 Act.

April 13, 2012

SuRo Capital Sports, LLC (“SuRo Sports”)

March 19, 2021

Subsidiaries below are referred

to collectively as the “Taxable Subsidiaries”

GSVC AE Holdings, Inc.

November 28, 2012

GSVC AV Holdings, Inc.

November 28, 2012

GSVC SW Holdings, Inc.

November 28, 2012

GSVC SVDS Holdings, Inc.

August 13, 2013

Company’s investment objective is to maximize its portfolio’s total return, principally by seeking capital gains on its equity

and equity-related investments, and to a lesser extent, income from debt investments.

The Company invests principally in the equity securities

of what it believes to be rapidly growing venture capital-backed emerging companies.

The Company may invest in these portfolio companies

through direct offerings of the prospective portfolio companies, transactions on secondary marketplaces for private companies, negotiations

with selling stockholders, investment funds, or through special purpose vehicles (“SPVs”) and other investment funds for the purpose of investing in securities of a single

private issuer.

In addition, the Company may invest in private credit and in founders equity, founders warrants, and private investment

in public equity transactions of special purpose acquisition companies (“SPACs”).

The Company may also invest on an opportunistic

basis in select publicly traded equity securities or certain non-U.S.

companies that otherwise meet its investment criteria, subject

to any applicable limitations under the 1940 Act.

CAPITAL CORP.

1 unchanged sentence

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2024

2— SIGNIFICANT ACCOUNTING POLICIES

23 unchanged sentences

and transactions have been eliminated in consolidation.

The Company invests in and lends to portfolio companies in various industries, including artificial intelligence,

consumer goods and services, education technology, financial technology and services, logistics and supply chain, software-as-a-service,

The Company separately evaluates the performance of each of its portfolio company investments.

However, because each of these

venture capital investments has similar business and economic characteristics, they have been aggregated into a single reportable segment.

preparation of Condensed Consolidated Financial Statements in accordance with GAAP requires the Company’s management to make a

25 unchanged sentences

The levels of the fair value hierarchy are as follows:

1 —Valuations based on unadjusted quoted prices for identical assets or liabilities in an active market that the Company has

the ability to access at the measurement date.

CAPITAL CORP.

1 unchanged sentence

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2024

1 —Valuations based on unadjusted quoted prices for identical assets or liabilities in an active market that the Company has

the ability to access at the measurement date.

2 —Valuations based on observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities;

40 unchanged sentences

be valued as follows:

The quarterly valuation process

begins with each portfolio company or investment being initially valued by the internal investment professionals responsible for the

portfolio investment;

Preliminary valuation estimates are then documented

and discussed with senior management;

For all investments for which there are no

readily available market quotations, the Valuation Committee engages an independent third-party valuation firm to conduct independent

appraisals, review management’s preliminary valuations and make its own independent assessment;

quarterly valuation process begins with each portfolio company or investment being initially valued by the internal investment professionals

responsible for the portfolio investment;

valuation estimates are then documented and discussed with senior management;

all investments for which there are no readily available market quotations, the Valuation Committee engages an independent third-party

valuation firm to conduct independent appraisals, review management’s preliminary valuations and make its own independent assessment;

CAPITAL CORP.

1 unchanged sentence

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2024

The Valuation Committee applies

the appropriate valuation methodology to each portfolio asset in a consistent manner, considers the inputs provided by management and

the independent third-party valuation firm, discusses the valuations and recommends to the Company’s Board of Directors a fair

value for each investment in the portfolio;

The Company’s Board of Directors then

discusses the valuations recommended by the Valuation Committee and determines in good faith the fair value of each investment in the

Valuation Committee applies the appropriate valuation methodology to each portfolio asset in a consistent manner, considers the inputs

provided by management and the independent third-party valuation firm, discusses the valuations and recommends to the Company’s

Board of Directors a fair value for each investment in the portfolio;

Company’s Board of Directors then discusses the valuations recommended by the Valuation Committee and determines in good faith

the fair value of each investment in the portfolio.

making a good faith determination of the fair value of investments, the Board of Directors applies valuation methodologies consistent

26 unchanged sentences

in unrealized appreciation or depreciation currently reflected in the condensed consolidated financial statements.

investments for which market quotations are readily available in an active market are generally valued at the most recently

available closing market prices and are classified as Level 1 assets.

Equity investments with readily available market quotations

that are subject to sales restrictions due to an initial public offering (“IPO”) by the portfolio company will be

classified as Level 1.

Any other equity investments with readily available market quotations that are subject to sales restrictions

that would transfer to market participants who would buy the security may be valued at a discount for a lack of marketability

(“DLOM”) to the most recently available closing market prices.

These investments are generally classified as Level 2

The DLOM used is generally based upon the market value of publicly traded put options with similar terms.

securities with readily available market quotations that are subject to entity-specific contractual sale restrictions, rather than

security-specific contractual sale restrictions, if such entity-specific contractual sale restrictions first applied or were

modified on or after December 15, 2023, the restrictions are not considered in the determination of fair value for that security.

investments for which market quotations are readily available in an active market are generally valued at the most recently available

closing market prices and are classified as Level 1 assets.

Equity investments with readily available market quotations that are subject

to sales restrictions due to an initial public offering (“IPO”) by the portfolio company will be classified as Level 1.

other equity investments with readily available market quotations that are subject to sales restrictions that would transfer to market

participants who would buy the security may be valued at a discount for a lack of marketability (“DLOM”) to the most recently

available closing market prices.

These investments are generally classified as Level 2 assets.

The DLOM used is generally based upon

the market value of publicly traded put options with similar terms.

For equity securities with readily available market quotations that

are subject to entity-specific contractual sale restrictions, rather than security-specific contractual sale restrictions, if such entity-specific

contractual sale restrictions first applied or were modified on or after December 15, 2023, the restrictions are not considered in the

determination of fair value for that security.

See “Recently Issued or Adopted Accounting Standards” for more information.

13 unchanged sentences

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2024

determining the fair value of equity or equity-linked securities (including simple agreement for future equity (“SAFE”) notes

1 unchanged sentence

and limitations of such securities.

In cases where a portfolio company’s capital structure includes multiple classes of preferred

and common stock and equity-linked securities with different rights and preferences, the Board of Directors may use an option pricing

model to allocate value to each equity-linked security, unless it believes a liquidity event such as an acquisition or a dissolution

is imminent, or the portfolio company is unlikely to continue as a going concern.

When equity-linked securities expire worthless, any

16 unchanged sentences

The Company’s options are valued at estimated fair value as determined in good faith by the Company’s Board of Directors.

Special Purpose Vehicles and

Investment Funds

At various times, the Company may utilize SPVs and similar investment fund

structures in the investment process.

The Company advances money to these SPVs or investment funds that are formed for the specific purpose

of investing in securities of a single private issuer.

Generally speaking, these single asset SPVs have the following characteristics:

(1) the underlying investment in the securities of the single private issuer is the sole activity of the SPV or investment fund;

Company’s underlying ownership of the single private issuer is proportionate to the Company’s contributions made to the SPV

or investment fund;

and (3) the Company will receive its proportionate share of the cash proceeds as the single private issuer is monetized

and distributed.

The Condensed Consolidated Schedule of Investments presents the value of the Company’s investment in the SPV or

investment fund.

These SPV and fund investments are valued at estimated fair value as determined in good faith by the Company’s

Board of Directors.

The SPVs may incur a tax liability associated with distributions made by underlying portfolio investments.

or investment fund charges management fees or prepaid partnership expenses, those fees may adjust the cost of the SPV.

In valuing the

Company’s investments in venture investment funds (“Venture Investment

Funds”), the Company may apply the practical expedient provided by the ASC Topic 820 relating to investments in certain

entities that calculate net asset value (“NAV”) per share (or its equivalent).

ASC Topic 820 permits an entity holding

investments in certain entities that either are investment companies, or have attributes similar to an investment company, and

calculate NAV per share or its equivalent for which the fair value is not readily determinable, to measure the fair value of such

investments on the basis of that NAV per share, or its equivalent, without adjustment.

Purpose Acquisition Companies

6 unchanged sentences

less a DLOM if there are security-specific contractual sale restrictions.

The Company’s SPAC investments are valued

at estimated fair value as determined in good faith by the Company’s Board of Directors.

valuing the Company’s investments in venture investment funds (“Venture Investment Funds”), the Company applies the

practical expedient provided by the ASC Topic 820 relating to investments in certain entities that calculate net asset value (“NAV”)

per share (or its equivalent).

ASC Topic 820 permits an entity holding investments in certain entities that either are investment companies,

or have attributes similar to an investment company, and calculate NAV per share or its equivalent for which the fair value is not readily

determinable, to measure the fair value of such investments on the basis of that NAV per share, or its equivalent, without adjustment.

The Company’s SPAC investments are valued at estimated

fair value as determined in good faith by the Company’s Board of Directors.

CAPITAL CORP.

AND SUBSIDIARIES

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Company Investment Classification

9 unchanged sentences

Refer to the Condensed Consolidated Schedules of

Investments as of June 30, 2024 and December 31, 2023 for details regarding the nature and composition of the Company’s investment

CAPITAL CORP.

AND SUBSIDIARIES

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2024

Investments as of September 30, 2024 and December 31, 2023 for details regarding the nature and composition of the Company’s investment

portfolio companies in which the Company invests may offer their shares in IPOs.

35 unchanged sentences

from contingent consideration are to be recognized when the amount of the contingent consideration becomes realized or realizable.

of June 30, 2024 and December 31, 2023, the Company had $ 71,044 and $ 309,293 , respectively, in escrow proceeds receivable.

of September 30, 2024 and December 31, 2023, the Company had $ 63,745

and $ 309,293 ,

respectively, in escrow proceeds receivable.

CAPITAL CORP.

1 unchanged sentence

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2024

Financing Costs

Company records fees and expenses incurred in connection with financing or capital raising activities other than the Company’s 6.00 %

Notes due 2026

as deferred financing costs.

These costs are deferred and amortized using the straight-line method over the respective life of the

financing instrument.

For modifications to a financing instrument, any unamortized origination costs are expensed.

Included within

deferred financing costs are offering costs incurred relating to the Company’s shelf registration statement on Form N-2.

Company defers these offering costs until capital is raised pursuant to the shelf registration statement or until the shelf

registration statement expires.

For equity capital raised, the offering costs reduce paid-in capital resulting from the offering.

Company records fees and expenses incurred in connection with its 6.00% Notes due 2026 as deferred debt issuance costs.

are reflected in the carrying value of the 6.00% Notes due 2026, and not the Company’s deferred financing costs.

debt capital raised, the associated offering costs are deferred and amortized as part of interest expense using the straight-line

method over the life of the debt instrument.

As of June 30, 2024 and December 31, 2023, the Company had deferred financing costs of

and $ 594,726 ,

respectively, on the Condensed Consolidated Statement of Assets and Liabilities.

Company records fees and expenses incurred in connection with financing or capital raising activities relating to the

Company’s shelf registration statement on Form N-2 as deferred financing costs.

The Company also incurred additional offering

costs in connection with its 6.00 % Notes due 2026.

The Company defers these offering costs until capital is raised pursuant to the

shelf registration statement or as the shelf registration statement expires.

For equity capital raised, the offering costs reduce

paid-in capital resulting from the offering.

These costs are deferred and amortized using the straight-line method over the

respective life of the financing instrument.

For modifications to a financing instrument, any unamortized origination costs are

Company records fees and expenses incurred in connection with debt capital raises as deferred

debt issuance costs.

Such costs are reflected in the carrying value of the related debt instrument,

and not the Company’s deferred financing costs.

For debt capital raised, the associated offering costs are deferred and amortized

as part of interest expense using the straight-line method over the life of the debt instrument.

As of September 30, 2024 and December

31, 2023, the Company had deferred financing costs of $ 492,952 and $ 594,726 , respectively, on the Condensed Consolidated Statement of

Assets and Liabilities.

OF DEFERRED FINANCING COSTS

10 unchanged sentences

parking) are not included in the lease cost.

On June 3, 2019, the Company entered an operating lease expiring August 31, 2024 for

office space, for which the Company has recorded a right-of-use asset and a corresponding lease liability for the operating lease

These amounts have been discounted using the rate implicit in the lease.

Refer to “Note 7—Commitments and

Contingencies— Operating Leases and Related Deposits ” for further detail.

On September 1, 2024, the Company extended the previous operating lease for office

space, for an additional term of three years and three months, expiring March 31, 2028 .

The Company has

recorded a right-of-use asset and a corresponding lease liability for the operating lease obligation.

These amounts have been

discounted using the rate implicit in the lease.

Refer to “Note 7—Commitments and Contingencies— Operating

Leases and Related Deposits ” for further detail.

the fair value recognition provisions as prescribed by ASC 718, Stock Compensation , stock-based compensation cost is measured

22 unchanged sentences

on the Condensed Consolidated Statement of Assets and Liabilities as escrow deposits.

As of June 30, 2024 and December 31, 2023, the

Company had no escrow deposits.

As of September 30, 2024 and December 31, 2023,

the Company had no escrow deposits.

CAPITAL CORP.

1 unchanged sentence

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2024

Appreciation or Depreciation of Investments

64 unchanged sentences

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2024

Share Information

4 unchanged sentences

securities, by the weighted-average number of common shares outstanding plus any potentially dilutive shares outstanding during the period.

When applicable, the Company uses the if-converted method in accordance with FASB ASC 260 , Earnings Per Share (“ASC 260”), to determine

the number of potentially dilutive shares outstanding.

Refer to “Note 6—Net Increase in Net Assets Resulting from Operations

per Common Share—Basic and Diluted” for further detail.

When applicable, the Company uses the if-converted method in accordance with FASB ASC 260 , Earnings Per Share (“ASC 260”),

to determine the number of potentially dilutive shares outstanding.

Refer to “Note 6—Net Increase in Net Assets Resulting

from Operations per Common Share—Basic and Diluted” for further detail.

Issued or Adopted Accounting Standards

1 unchanged sentence

2022-03, “Fair Value Measurements (Topic 820):

Fair Value Measurement of Equity Securities

Subject to Contractual Sale Restrictions.” This change prospectively prohibits entities from taking into account certain

contractual restrictions on the sale of equity securities when estimating fair value and introduces required disclosures for such

transactions.

The standard is effective for annual periods beginning after December 15, 2023, and applied prospectively.

adopted the requirements of ASU 2022-03 during the period ended March 31, 2024.

Fair Value Measurement of Equity Securities Subject

to Contractual Sale Restrictions.” This change prospectively prohibits entities from taking into account certain contractual restrictions

on the sale of equity securities when estimating fair value and introduces required disclosures for such transactions.

The standard is

effective for annual periods beginning after December 15, 2023, and applied prospectively.

The Company adopted the requirements of ASU

2022-03 during the period ended March 31, 2024.

December 2023, the FASB issued ASU 2023-09, “Improvements to Income Tax Disclosures.” The amendments in this update require

19 unchanged sentences

have a material impact on the Company’s future financial statements.

November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280):

Improvements to Reportable Segment Disclosures

(“ASU 2023- 07”),” which enhances disclosure requirements about significant segment expenses that are regularly

provided to the chief operating decision maker (the “CODM”).

ASU 2023-07, among other things, (i) requires a single

segment public entity to provide all of the disclosures as required by Topic 280, (ii) requires a public entity to disclose the

title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in

assessing segment performance and deciding how to allocate resources and (iii) provides the ability for a public entity to elect

more than one performance measure.

ASU 2023-07 is effective for the fiscal years beginning after December 15, 2023, and interim

periods beginning with the first quarter ended March 31, 2025.

Early adoption is permitted and retrospective adoption is required

for all prior periods presented.

The Company is currently assessing the impact of this guidance, however, the Company does not

expect a material impact on its condensed consolidated financial statements.

time to time, new accounting pronouncements are issued by the FASB or other standards setting bodies that are adopted by the Company

8 unchanged sentences

stockholders.

CAPITAL CORP.

AND SUBSIDIARIES

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

1940 Act prohibits the Company from participating in certain negotiated co-investments with certain affiliates unless it receives an

11 unchanged sentences

by the Company, and the Company’s executive officers and directors.

CAPITAL CORP.

AND SUBSIDIARIES

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2024

Company’s investment in Churchill Sponsor VI LLC, the sponsor of Churchill Capital Corp.

VI, a SPAC, constituted a “remote-affiliate”

Company’s investment in Churchill Sponsor VII LLC, the sponsor of Churchill Capital Corp.

VII, a SPAC, constituted a “remote-affiliate”

transaction for purposes of the 1940 Act in light of the fact that Mark D.

Klein, the Company’s Chairman, Chief Executive Officer

and President, has a non-controlling interest in the entity that controlled Churchill Sponsor VI LLC, and was a non-controlling member

and President, has a non-controlling interest in the entity that controls Churchill Sponsor VII LLC, and is a non-controlling member

of the board of directors of Churchill Capital Corp.

In addition, Mr.

Klein’s brother, Michael Klein, was a control person

Klein’s brother, Michael Klein, is a control person

of such Churchill entities.

On November 17, 2023, Churchill Capital Corp.

VI announced that it would not consummate an initial business

On August 18, 2024, Churchill Capital Corp.

VII announced that it would not consummate an initial business

combination within the time period required by its Amended and Restated Certificate of Incorporation, as amended, and the Company realized

a loss on the entirety of its Churchill Sponsor VI LLC common share units and warrant units in the amount of $ 200,000 .

Company’s investment in Churchill Sponsor VII LLC, the sponsor of Churchill Capital Corp.

VII, a SPAC, constituted a

“remote-affiliate” transaction for purposes of the 1940 Act in light of the fact that Mark D.

Klein, the Company’s

Chairman, Chief Executive Officer and President, has a non-controlling interest in the entity that controls Churchill Sponsor VII

LLC, and is a non-controlling member of the board of directors of Churchill Capital Corp.

In addition, Mr.

brother, Michael Klein, is a control person of such Churchill entities.

As of June 30, 2024, the fair value of the Company’s

remote-affiliate investment in Churchill Sponsor VII LLC was $ 403,871 .

a loss on the entirety of its Churchill Sponsor VII LLC common share units and warrant units in the amount of $ 300,000 .

Company’s investment in Skillsoft Corp.

(f/k/a Software Luxembourg Holding S.A.) (“Skillsoft”) constituted a

“remote-affiliate” transaction for purposes of the 1940 Act in light of the fact that Mr.

Klein has a non-controlling

interest in the entity that controlled Churchill Sponsor II LLC, the sponsor of Churchill Capital Corp.

II, a SPAC, and was a

non-controlling member of the board of directors of Churchill Capital Corp.

II, through which the Company executed a private

investment in public equity transaction in order to acquire common shares of Skillsoft alongside the merger of Skillsoft and

Churchill Capital Corp II.

(f/k/a Software Luxembourg Holding S.A.) (“Skillsoft”) constituted a “remote-affiliate”

transaction for purposes of the 1940 Act in light of the fact that Mr.

Klein has a non-controlling interest in the entity that controlled

Churchill Sponsor II LLC, the sponsor of Churchill Capital Corp.

II, a SPAC, and was a non-controlling member of the board of directors

of Churchill Capital Corp.

II, through which the Company executed a private investment in public equity transaction in order to acquire

common shares of Skillsoft alongside the merger of Skillsoft and Churchill Capital Corp II.

In addition, Mr.

Klein’s brother, Michael Klein, was a control person of such Churchill entities.

As of June 30, 2024, the fair value of the Company’s remote-affiliate investment in Skillsoft was $ 678,942 .

Klein’s brother, Michael

Klein, was a control person of such Churchill entities.

As of September 30, 2024, the fair value of the Company’s remote-affiliate

investment in Skillsoft was $ 760,926 .

Company’s initial investment in Shogun Enterprises, Inc.

3 unchanged sentences

and held a minority equity interest in such portfolio company.

As of June 30, 2024, the fair value of the Company’s remote-affiliate

As of September 30, 2024, the fair value of the Company’s remote-affiliate

investment in Shogun Enterprises, Inc.

11 unchanged sentences

(d/b/a PublicSquare).

As of June 30, 2024, the fair value of the Company’s investment in PSQ

Holdings, Inc.

As of September 30, 2024, the fair value of the Company’s investment

in PSQ Holdings, Inc.

(d/b/a PublicSquare) was $ 4,457,988 .

Company’s investment in AltC Sponsor LLC, the sponsor of AltC Acquisition Corp, a SPAC, constituted a

“remote-affiliate” transaction for purposes of the 1940 Act in light of the fact that Mr.

Klein has a non-controlling

interest in one of the entities that controls AltC Sponsor LLC, and Allison Green, the Company’s Chief Financial Officer,

Chief Compliance Officer, Treasurer and Secretary, was a non-controlling member of the board of directors of AltC Acquisition Corp

until its dissolution upon completion of AltC Acquisition Corp.’s business combination into Oklo, Inc.

As of June 30, 2024, the

fair value of the Company’s investment in Oklo, Inc.

Company’s investment in AltC Sponsor LLC, the sponsor of AltC Acquisition Corp, a SPAC, constituted a “remote-affiliate”

transaction for purposes of the 1940 Act in light of the fact that Mr.

Klein has a non-controlling interest in one of the entities that

controlled AltC Sponsor LLC, and Allison Green, the Company’s Chief Financial Officer, Chief Compliance Officer, Treasurer and

Secretary, was a non-controlling member of the board of directors of AltC Acquisition Corp until its dissolution upon completion of AltC

Acquisition Corp.’s business combination into Oklo, Inc.

As of September 30, 2024, the fair value of the Company’s investment

in Oklo, Inc.

was $ 1,405,641 .

2 unchanged sentences

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2024

4— INVESTMENTS AT FAIR VALUE

1 unchanged sentence

Company’s investments in portfolio companies consist primarily of equity securities (such as common stock, preferred stock and

options or agreements to purchase or acquire common and preferred stock) and to a lesser extent, debt securities, issued by private and

publicly traded companies.

options or agreements to purchase or acquire common and preferred stock), and to a lesser extent, debt securities, issued by private

and publicly traded companies.

The Company may also, from time to time, invest in U.S.

3 unchanged sentences

Treasury bills.

As of June 30, 2024, the Company had 65 positions in 39 portfolio companies.

As of December

31, 2023, the Company had 63 positions in 38 portfolio companies.

As of September 30, 2024, the Company had 60

positions in 37

portfolio companies.

As of December 31, 2023, the Company had 63

following tables summarize the composition of the Company’s investment portfolio by security type at cost and fair value as of

June 30, 2024 and December 31, 2023:

September 30, 2024 and December 31, 2023:

SCHEDULE OF COMPOSITION OF INVESTMENT PORTFOLIO

3 unchanged sentences

$ 138,567,805

$ 107,209,010

$ 122,744,564

Common Stock (2)

Debt Investments

2 unchanged sentences

Publicly Traded Portfolio Companies

Total Portfolio Investments

Portfolio Investments

Non-Portfolio Investments

Treasury Bills

Total Investments

$ 241,532,648

2 unchanged sentences

$ 247,892,104

Preferred Stock includes the Company’s investment

in the Class A Interest of ARK Type One Deep Ventures Fund LLC which is invested in the Convertible Equity of OpenAI Global, LLC, and the Company’s

investment in the Class A Interest of CW Opportunity 2 LP which is invested in the Series C Preferred shares of CoreWeave, Inc.

Common Stock includes the Company’s Limited Partner Fund Investment in True Global Ventures

4 Plus Pte Ltd.

CAPITAL CORP.

1 unchanged sentence

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2024

geographic and industrial compositions of the Company’s portfolio at fair value as of June 30, 2024 and December 31, 2023 were

of June 30, 2024

geographic and industrial compositions of the Company’s portfolio at fair value as of September 30, 2024 and December 31, 2023

were as follows:

of September 30, 2024

of December 31, 2023

4 unchanged sentences

$ 184,081,249

of June 30, 2024

of September 30, 2024

of December 31, 2023

AI/Big Data/Cloud

Software-as-a-Service

Artificial Intelligence Infrastructure & Application

Consumer Goods & Services

Education Technology

Social/Mobile/Consumer

Financial Technology

Sustainability/Alternative Energy

Logistics & Supply Chain

Financial Technology & Services

$ 199,302,778

3 unchanged sentences

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2024

table below details the composition of the Company’s industrial themes presented in the preceding tables:

Management Software

GPUs-as-a-Service

Chain Technology

Innovation Platform

Intelligence Infrastructure

Advanced Nuclear Technology

& Application

AI Application Fund

AI Infrastructure

AI Infrastructure Fund

Goods & Services

Beverage Brand

Micromobility

Pharmaceutical

Estate Platform

Improvement Finance

Technology & Services

Credit Services

Access Technology

Finance Technology

Marketplace Finance

Estate Platform

Purpose Acquisition Company

Investment Fund

Social/Mobile/Consumer

& Supply Chain

Chain Technology

Software-as-a-Service

Management Software

Innovation Platform

Improvement Finance

Pharmaceutical

Data Platform

Media Technology

Media & Services

Beverage Brand

Access Technology

Data Platform

Sustainability/Alternative Energy

Advanced Nuclear

Carbon Credit Services

Clean Technology

CAPITAL CORP.

1 unchanged sentence

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2024

Valuation Inputs

fair values of the Company’s investments disaggregated into the three levels of the fair value hierarchy based upon the lowest

level of significant input used in the valuation as of June 30, 2024 and December 31, 2023 are as follows:

level of significant input used in the valuation as of September 30, 2024 and December 31, 2023 are as follows:

SCHEDULE OF FAIR VALUE OF INVESTMENT VALUATION INPUTS

of June 30, 2024

of September 30, 2024

Investments at Fair Value

3 unchanged sentences

$ 138,567,805

Common Stock (2)

Debt Investments

5 unchanged sentences

$ 199,302,778

Preferred Stock includes the Company’s investment

in the Class A Interest of ARK Type One Deep Ventures Fund LLC which is invested in the Convertible Equity of OpenAI Global, LLC, and the Company’s

investment in the Class A Interest of CW Opportunity 2 LP which is invested in the Series C Preferred shares of CoreWeave, Inc.

Common Stock includes the Company’s Limited Partner Fund Investment in True Global Ventures

4 Plus Pte Ltd.

of December 31, 2023

4 unchanged sentences

$ 122,744,564

Common Stock (1)

Debt Investments

8 unchanged sentences

$ 247,892,104

Common Stock includes the Company’s

Limited Partner Fund Investment in True Global Ventures 4 Plus Pte Ltd.

CAPITAL CORP.

3 unchanged sentences

accordance with FASB ASC 820, Fair Value Measurement , the tables below provide quantitative information about the fair value measurements

of the Company’s Level 3 assets as of June 30, 2024 and December 31, 2023.

In addition to the techniques and inputs noted in the

tables below, according to the Company’s valuation policy, the Board of Directors may also use other valuation techniques and methodologies

when determining the fair value measurements of the Company’s assets.

The tables below are not intended to be all-inclusive, but

rather provide information on the significant Level 3 inputs as they relate to the fair value measurements of the Company’s assets.

To the extent an unobservable input is not reflected in the tables below, such input is deemed insignificant with respect to the Company’s

Level 3 fair value measurements as of June 30, 2024 and December 31, 2023.

Significant changes in the inputs in isolation would result

in a significant change in the fair value measurement, depending on the input and the materiality of the investment.

Refer to “Note

2—Significant Accounting Policies— Investments at Fair Value ” for more detail.

of the Company’s Level 3 assets as of September 30, 2024 and December 31, 2023.

In addition to the techniques and inputs noted

in the tables below, according to the Company’s valuation policy, the Board of Directors may also use other valuation techniques

and methodologies when determining the fair value measurements of the Company’s assets.

The tables below are not intended to be

all-inclusive, but rather provide information on the significant Level 3 inputs as they relate to the fair value measurements of the

Company’s assets.

To the extent an unobservable input is not reflected in the tables below, such input is deemed insignificant

with respect to the Company’s Level 3 fair value measurements as of September 30, 2024 and December 31, 2023.

Significant changes

in the inputs in isolation would result in a significant change in the fair value measurement, depending on the input and the materiality

of the investment.

Refer to “Note 2—Significant Accounting Policies— Investments at Fair Value ” for more

SCHEDULE OF FAIR VALUE OF ASSETS ON UNOBSERVABLE INPUT

of June 30, 2024

of September 30, 2024

Approach/ Technique (1)

(Weighted Average) (3)

stock in private companies

- 10.79 x ( 8.07 x)

- 18.0 % ( 16.2 %)

stock in private companies

Preferred stock in private

companies (6)

$ 138,567,805

- 5.61 x ( 1.52 x)

- 1.89 x ( 1.78 x)

Market approach

Revenue multiples

- 5.93 x ( 1.61 x)

Pricing Model

to expiration (Years)

Private Company Discount

Precedent Transaction

25 % - 100 % ( 57 %)

Conversion Adjustment Premium

Revenue multiples

- 1.88 x ( 1.81 x)

Dissolution Risk

Common stock in private companies (7)

Market approach

Revenue multiples

0.10 x - 11.00 x ( 8.44 x)

Private Company Discount

15 % - 30 % ( 24 %)

of June 30, 2024, the Board of Directors used a hybrid market and income approach to value

certain common and preferred stock investments, as the Board of Directors felt this approach

better reflected the fair value of these investments.

In considering multiple valuation approaches

(and consequently, multiple valuation techniques), the valuation approaches and techniques

are not likely to change from one period of measurement to the next;

however, the weighting

of each in determining the final fair value of a Level 3 investment may change based on recent

events or transactions.

Precedent Transaction

AFFO (4) multiple

Dissolution Risk

Debt investments

Market approach

Revenue multiples

- 1.59 x ( 1.49 x)

Option Pricing Model

Term to expiration (Years)

of September 30, 2024, the Board of Directors used a hybrid market and income approach to value certain common and preferred stock

investments, as the Board of Directors felt this approach better reflected the fair value of these investments.

In considering multiple

valuation approaches (and consequently, multiple valuation techniques), the valuation approaches and techniques are not likely to

change from one period of measurement to the next;

however, the weighting of each in determining the final fair value of a Level

3 investment may change based on recent events or transactions.

The hybrid approach may also consider certain risk weightings to

account for the uncertainty of future events.

Refer to “Note 2—Significant Accounting

Policies— Investments at Fair Value ” for more detail.

CAPITAL CORP.

AND SUBSIDIARIES

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Board of Directors considers all relevant information that can reasonably be obtained when

determining the fair value of Level 3 investments.

Due to any given portfolio company’s

information rights, changes in capital structure, recent events, transactions, or liquidity

events, the type and availability of unobservable inputs may change.

Increases/(decreases)

in revenue multiples, earnings before interest and taxes (“EBIT”) multiples,

time to expiration, and stock price/strike price would result in higher (lower) fair values,

all else equal.

Decreases/(increases) in discount rates, volatility, and annual risk rates,

would result in higher (lower) fair values, all else equal.

The market approach utilizes

market value (revenue and EBIT) multiples of publicly traded comparable companies and available

precedent sales transactions of comparable companies.

Refer to “Note 2—Significant Accounting Policies— Investments at

Fair Value ” for more detail.

Board of Directors considers all relevant information that can reasonably be obtained when determining the fair value of Level 3

Due to any given portfolio company’s information rights, changes in capital structure, recent events, transactions,

or liquidity events, the type and availability of unobservable inputs may change.

Increases/(decreases) in revenue multiples, earnings

before interest and taxes (“EBIT”) multiples, time to expiration, and stock price/strike price would result in higher

(lower) fair values, all else equal.

Decreases/(increases) in discount rates, volatility, and annual risk rates, would result in

higher (lower) fair values, all else equal.

The market approach utilizes market value (revenue and EBIT) multiples of publicly traded

comparable companies and available precedent sales transactions of comparable companies.

The Board of Directors carefully considers

numerous factors when selecting the appropriate companies whose multiples are used to value

the Company’s portfolio companies.

These factors include, but are not limited to, the

type of organization, similarity to the business being valued, relevant risk factors, as

well as size, profitability and growth expectations.

In general, precedent transactions include

recent rounds of financing, recent purchases made by the Company, and tender offers.

to “Note 2—Significant Accounting Policies— Investments at Fair Value ”

for more detail.

numerous factors when selecting the appropriate companies whose multiples are used to value the Company’s portfolio companies.

These factors include, but are not limited to, the type of organization, similarity to the business being valued, relevant risk factors,

as well as size, profitability and growth expectations.

In general, precedent transactions include recent rounds of financing, recent

purchases made by the Company, and tender offers.

Refer to “Note 2—Significant Accounting Policies— Investments

at Fair Value ” for more detail.

weighted averages are calculated based on the fair market value of each investment.

2 unchanged sentences

Expected Return Method, or “PWERM”.

Stock includes the Company’s investment in the Class A Interest of ARK Type One Deep Ventures Fund LLC which is invested in

the Convertible Equity of OpenAI Global, LLC, and the Company’s investment in the Class A Interest of CW Opportunity 2 LP

which is invested in the Series C Preferred shares of CoreWeave, Inc.

Stock includes the Company’s Limited Partner Fund Investment in True Global Ventures 4 Plus Pte Ltd.

CAPITAL CORP.

AND SUBSIDIARIES

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

of December 31, 2023

Technique (1)

Approach/ Technique (1)

(Weighted Average) (3)

stock in private companies

- 11.13 x ( 9.29 x)

- 25.0 % ( 18.5 %)

stock in private companies

Preferred stock in private companies

$ 122,744,564

Market approach

Revenue multiples

0.15 x - 11.41 x ( 2.73 x)

Discount rate

Common stock in private companies (6)

Market approach

Revenue multiples

- 11.13 x ( 9.29 x)

- 25.0 % ( 18.5 %)

Discount Rate

Debt investments

Market approach

Revenue multiples

- 1.66 x ( 1.56 x)

to expiration (Years)

Term to expiration (Years)

- 5.63 ( 0.79 )

Discount Rate

- 18 % ( 16.0 %)

of December 31, 2023, the Board of Directors used a hybrid market and income approach to

value certain common and preferred stock investments, as the Board of Directors felt this

approach better reflected the fair value of these investments.

In considering multiple valuation

approaches (and consequently, multiple valuation techniques), the valuation approaches and

techniques are not likely to change from one period of measurement to the next;

the weighting of each in determining the final fair value of a Level 3 investment may change

based on recent events or transactions.

The hybrid approach may also consider certain risk

weightings to account for the uncertainty of future events.

Refer to “Note 2—Significant

Accounting Policies— Investments at Fair Value ” for more detail.

CAPITAL CORP.

AND SUBSIDIARIES

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Board of Directors considers all relevant information that can reasonably be obtained when

determining the fair value of Level 3 investments.

Due to any given portfolio company’s

information rights, changes in capital structure, recent events, transactions, or liquidity

events, the type and availability of unobservable inputs may change.

Increases/(decreases)

in revenue multiples, earnings before interest and taxes (“EBIT”) multiples,

time to expiration, and stock price/strike price would result in higher (lower) fair values,

all else equal.

Decreases/(increases) in discount rates, volatility, and annual risk rates,

would result in higher (lower) fair values, all else equal.

The market approach utilizes

market value (revenue and EBIT) multiples of publicly traded comparable companies and available

precedent sales transactions of comparable companies.

of December 31, 2023, the Board of Directors used a hybrid market and income approach to value certain common and preferred stock

investments, as the Board of Directors felt this approach better reflected the fair value of these investments.

In considering multiple

valuation approaches (and consequently, multiple valuation techniques), the valuation approaches and techniques are not likely to

change from one period of measurement to the next;

however, the weighting of each in determining the final fair value of a Level

3 investment may change based on recent events or transactions.

The hybrid approach may also consider certain risk weightings to

account for the uncertainty of future events.

Refer to “Note 2—Significant Accounting Policies— Investments at

Fair Value ” for more detail.

Board of Directors considers all relevant information that can reasonably be obtained when determining the fair value of Level 3

Due to any given portfolio company’s information rights, changes in capital structure, recent events, transactions,

or liquidity events, the type and availability of unobservable inputs may change.

Increases/(decreases) in revenue multiples, earnings

before interest and taxes (“EBIT”) multiples, time to expiration, and stock price/strike price would result in higher

(lower) fair values, all else equal.

Decreases/(increases) in discount rates, volatility, and annual risk rates, would result in

higher (lower) fair values, all else equal.

The market approach utilizes market value (revenue and EBIT) multiples of publicly traded

comparable companies and available precedent sales transactions of comparable companies.

The Board of Directors carefully considers

numerous factors when selecting the appropriate companies whose multiples are used to value

the Company’s portfolio companies.

These factors include, but are not limited to, the

type of organization, similarity to the business being valued, relevant risk factors, as

well as size, profitability and growth expectations.

In general, precedent transactions include

recent rounds of financing, recent purchases made by the Company, and tender offers.

to “Note 2—Significant Accounting Policies— Investments at Fair Value ”

for more detail.

numerous factors when selecting the appropriate companies whose multiples are used to value the Company’s portfolio companies.

These factors include, but are not limited to, the type of organization, similarity to the business being valued, relevant risk factors,

as well as size, profitability and growth expectations.

In general, precedent transactions include recent rounds of financing, recent

purchases made by the Company, and tender offers.

Refer to “Note 2—Significant Accounting Policies— Investments

at Fair Value ” for more detail.

weighted averages are calculated based on the fair market value of each investment.

2 unchanged sentences

Expected Return Method, or “PWERM”.

aggregate values of Level 3 assets and liabilities changed during the six months ended June 30, 2024 as follows:

Common Stock includes the Company's Limited Partner Fund Investment in True Global Ventures 4 Plus Pte Ltd.

CAPITAL CORP.

AND SUBSIDIARIES

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

aggregate values of Level 3 assets and liabilities changed during the nine months ended September 30, 2024 as follows:

SCHEDULE OF AGGREGATE VALUE OF ASSETS AND LIABILITIES

Six Months Ended June 30, 2024

Months Ended September 30, 2024

Fair Value as of December 31, 2023

6 unchanged sentences

( 1,414,278 )

( 1,585,722 )

( 13,607,969 )

Exercises and conversions

( 1,338,976 )

Realized losses

Net change in unrealized appreciation/(depreciation) included in earnings

Realized gains/(losses)

( 7,529,405 )

( 7,076,812 )

Transfers out of Level 3

Fair Value as of June 30, 2024

( 14,444,680 )

Net change in unrealized

appreciation/(depreciation) included in earnings

( 19,286,404 )

Net change in unrealized appreciation/ (depreciation) of Level 3 investments still held as of June 30, 2024

( 6,400,047 )

Fair Value as of September 30, 2024

$ 138,567,805

the six months ended June 30, 2024, the Company’s portfolio investments had the following

corporate actions which are reflected above:

Portfolio Company

Conversion from

Conversion to

AltC Sponsor LLC

Common shares, Class A

Common shares, Class B

$ 191,177,127

Net change in unrealized

appreciation/ (depreciation) of Level 3 investments still held as of September 30, 2024

$ ( 27,903,880 )

$ ( 22,682,197 )

Preferred Stock includes the Company’s investment

in the Class A Interest of ARK Type One Deep Ventures Fund LLC which is invested in the Convertible Equity of OpenAI Global, LLC, and the Company’s

investment in the Class A Interest of CW Opportunity 2 LP which is invested in the Series C Preferred shares of CoreWeave, Inc.

Common Stock includes the Company’s Limited Partner Fund Investment in True Global Ventures

4 Plus Pte Ltd.

the nine months ended September 30, 2024, the Company’s portfolio investments had the following corporate actions which are

reflected above:

shares, Class A

shares, Class B

- Common shares, Class A (Level 2)

Xgroup Holdings Limited (d/b/a Xpoint)

Convertible Note 6 %, Due 10/17/2024

Preferred shares, Series A-1

Warrants, Series A-1

Warrants, Series A

Holdings Limited (d/b/a Xpoint)

Note 6 %, Due 10/17/2024

shares, Series A-1

CAPITAL CORP.

2 unchanged sentences

aggregate values of Level 3 assets and liabilities changed during the year ended December 31, 2023 as follows:

Year Ended December 31, 2023

Ended December 31, 2023

Fair Value as of December 31, 2022

17 unchanged sentences

( 9,815,023 )

Net change in unrealized appreciation/(depreciation) included in earnings

( 2,010,693 )

Transfers out of Level 3

( 1,554,355 )

( 1,157,487 )

Net change in unrealized

appreciation/(depreciation) included in earnings

( 2,010,693 )

5 unchanged sentences

$ 168,568,251

Net change in unrealized appreciation/ (depreciation) of Level 3 investments still held as of December 31, 2023

Net change in unrealized

appreciation/ (depreciation) of Level 3 investments still held as of December 31, 2023

$ ( 2,010,694 )

1 unchanged sentence

$ ( 512,480 )

Net change in unrealized appreciation/ (depreciation) of Level 3 investments still held

Net change in unrealized

appreciation/ (depreciation) of Level 3 investments still held

$ ( 2,010,694 )

1 unchanged sentence

$ ( 512,480 )

the year ended December 31, 2023, the Company’s portfolio investments had the following

corporate actions which are reflected above:

Portfolio Company

Conversion from

Conversion to

Orchard Technologies, Inc.

Preferred shares, Series D

Simple Agreement for Future Equity

Senior Preferred shares, Series 1

Senior Preferred shares, Series 2

Common Shares, Class A

Shogun Enterprises, Inc.

Common Stock includes the Company's Limited Partner Fund Investment in True Global Ventures 4 Plus Pte Ltd.

the year ended December 31, 2023, the Company’s portfolio investments had the following corporate actions which are reflected

Technologies, Inc.

shares, Series D

Agreement for Future Equity

Preferred shares, Series 1

Preferred shares, Series 2

Shares, Class A

Enterprises, Inc.

(d/b/a Hearth)

Convertible Note 0.5 %

Preferred Shares, Series B-3

Colombier Sponsor LLC

Class B Units

Class W Units

PSQ Holdings, Inc.

Shares, Series B-3

Holdings, Inc.

(d/b/a PublicSquare) - Common shares, Class A (Level 2)

PSQ Holdings, Inc.

Holdings, Inc.

(d/b/a PublicSquare) Warrants (Level 1)

AltC Sponsor LLC

Common shares, Class A

Common shares, Class B

shares, Class A

shares, Class B

CAPITAL CORP.

2 unchanged sentences

of Investments In, and Advances to, Affiliates

during the six months ended June 30, 2024 involving the Company’s controlled investments and non-controlled/affiliate

investments were as follows:

during the nine months ended September 30, 2024 involving the Company’s controlled investments and non-controlled/affiliate investments

were as follows:

OF INVESTMENTS IN AND ADVANCES TO AFFILIATES

2 unchanged sentences

Value at December 31, 2023

and Amortization

Sales/Redemptions

1 unchanged sentence

Gains/(Losses)

Value at June 30, 2024

Value at September 30, 2024

INVESTMENTS * (2)

Purpose Acquisition Company

Sponsor II LLC**–Class W Units

Colombier Sponsor

II LLC**–Class W Units

$ 498,305 - -

(f/k/a GSV Sustainability Partners, Inc.)–Preferred shares, Class A

Total Options

Preferred Stock

(f/k/a GSV Sustainability Partners, Inc.)–Common shares

Sustainability Partners, Inc.)–Preferred shares, Class A

( 6,776,462 )

Total Preferred Stock

( 6,776,462 )

Sustainability Partners, Inc.)–Common shares

Finance Technology

Capital PayJoy SPV, LLC**–Membership Interest in Lending SPV***

Architect Capital PayJoy

SPV, LLC**–Membership Interest in Lending SPV***

( 10,000,000 )

Purpose Acquisition Company

Sponsor II LLC**–Class B Units

Colombier Sponsor II LLC**–Class

( 10,000,000 )

1 unchanged sentence

$ ( 10,374,950 )

$ ( 6,793,207 )

NON-CONTROLLED/AFFILIATE

INVESTMENTS * (1)

Innovation Platform

(f/k/a NestGSV, Inc.) –Convertible Promissory Note 8 %, Due 8/23/2024 (4)

Debt Investments

Research, Inc.–Preferred shares, Series C

Innovation Platform

(f/k/a NestGSV, Inc.) –Convertible Promissory Note 8 %,

Due 8/23/2024

$ ( 1,414,278 )

$ ( 237,219 )

Total Debt Investments

( 1,414,278 )

Preferred Stock

Maven Research, Inc.–Preferred

shares, Series C

Research, Inc.–Preferred shares, Series B

8 unchanged sentences

( 3,890,410 )

Preferred Stock

Total Preferred Stock

( 3,890,410 )

1 unchanged sentence

(f/k/a NestGSV, Inc.)–Derivative Security, Expiration Date 8/23/2024 (6)

( 1,585,722 )

( 6,982,628 )

Global Innovation Platform

Holdings, Inc.

(d/b/a PublicSquare)** (7)(3) – Warrants

( 1,585,722 )

Inc.–Common shares

Holdings, Inc.

(d/b/a PublicSquare)** (7)(3) – Common shares, Class A

( 6,982,628 )

PSQ Holdings,

(d/b/a PublicSquare)** (3)(4) – Warrants

( 1,585,722 )

( 6,982,628 )

Curious.com, Inc.–Common shares

PSQ Holdings,

(d/b/a PublicSquare)** (3)(4) – Common shares, Class A

NON-CONTROLLED/AFFILIATE INVESTMENTS* (1)

1 unchanged sentence

$ ( 6,598,526 )

CAPITAL CORP.

AND SUBSIDIARIES

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

portfolio investments are non-income-producing, unless otherwise identified.

1 unchanged sentence

may be subject to lock-up restrictions upon their IPO.

Preferred dividends are generally only

payable when declared and paid by the portfolio company’s board of directors.

The Company’s

directors, officers, employees and staff, as applicable, may serve on the board of directors

of the Company’s portfolio investments.

(Refer to “Note 3—Related-Party

Arrangements”).

All portfolio investments are considered Level 3 and valued using significant

unobservable inputs, unless otherwise noted.

(Refer to “Note 4—Investments at

Fair Value”).

All of the Company’s portfolio investments are restricted

as to resale, unless otherwise noted, and were valued at fair value as determined in good

faith by the Company’s Board of Directors.

Preferred dividends are generally

only payable when declared and paid by the portfolio company’s board of directors.

The Company’s directors, officers, employees and staff, as applicable, may serve on

the board of directors of the Company’s portfolio investments.

(Refer to “Note

3—Related-Party Arrangements”).

All portfolio investments are considered Level

3 and valued using significant unobservable inputs, unless otherwise noted.

(Refer to “Note

4—Investments at Fair Value”).

All of the Company’s portfolio investments

are restricted as to resale, unless otherwise noted, and were valued at fair value as determined

in good faith by the Company’s Board of Directors.

(Refer to “Note 2—Significant

Accounting Policies— Investments at Fair Value ”).

CAPITAL CORP.

AND SUBSIDIARIES

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Indicates assets that SuRo Capital Corp.

believes do not represent

“qualifying assets” under Section 55(a) of the 1940 Act.

Of the Company’s total investments as of June 30, 2024, 24.20 %

assets that SuRo Capital Corp.

believes do not represent “qualifying assets”

under Section 55(a) of the 1940 Act.

Of the Company’s total investments as of September

30, 2024, 28.23 % of its total investments are non-qualifying assets.

19 unchanged sentences

“Note 4—Investments at Fair Value”.

of June 30, 2024, the investments noted had been placed on non-accrual status.

(4) SuRo Capital Corp.’s ownership percentage in PSQ Holdings, Inc.

(d/b/a PublicSquare) decreased to below 5% and as

such, PSQ Holdings, Inc.

(d/b/a PublicSquare) is no longer classified as an “affiliate investment” as of September 30, 2024.

As such, the Company has reflected a “transfer out” of the “Non-Controlled/Affiliate Investment” category above as

of September 30, 2024 to indicate that the investment in PSQ Holdings, Inc.

(d/b/a PublicSquare), while still held as of September 30,

2024, does not meet the criteria of an affiliate investment as defined in the 1940 Act.

Capital Corp.’s investments in StormWind, LLC are held through SuRo Capital Corp.’s

wholly owned subsidiary, GSVC SW Holdings, Inc.

August 23, 2019, SuRo Capital Corp.

amended the structure of its investment in OneValley,

(f/k/a NestGSV, Inc.).

As part of the agreement, SuRo Capital Corp.’s equity holdings

(warrants notwithstanding) were restructured into a derivative security.

OneValley, Inc.

(f/k/a NestGSV, Inc.) has the right to call the position at any time over a five year period,

ending August 23, 2024, while SuRo Capital Corp.

can put the shares to OneValley, Inc.

NestGSV, Inc.) at the end of the five year period.

Capital Corp.’s shares of PSQ Holdings, Inc.

(d/b/a PublicSquare) Class A Common shares are subject to contractual sale restrictions

in the form of a lock-up agreement applicable to the common shares after the company’s IPO, while the PSQ Holdings, Inc.

PublicSquare) warrants are freely tradable.

The lock-up agreement expires on July 19, 2024.

CAPITAL CORP.

16 unchanged sentences

( 1,159,150 )

Total Options

( 1,159,150 )

(f/k/a GSV Sustainability Partners, Inc.)–Preferred shares, Class A

Preferred Stock

(f/k/a GSV Sustainability Partners, Inc.)–Common shares

Sustainability Partners, Inc.)–Preferred shares, Class A

Total Preferred Stock

Sustainability Partners, Inc.)–Common shares

Finance Technology

Capital PayJoy SPV, LLC**–Membership Interest in Lending SPV***

Architect Capital PayJoy

SPV, LLC**–Membership Interest in Lending SPV***

Purpose Acquisition Company

Sponsor II LLC**–Class B Units

Colombier Sponsor II

LLC**–Class B Units

Sponsor LLC** (6) –Class B Units

4 unchanged sentences

$ ( 600,693 )

AND SUBSIDIARIES

NOTES TO CONDENSED

CONSOLIDATED FINANCIAL STATEMENTS

Type/Industry/Portfolio Company/Investment

Interest, Fees, or Dividends Credited in Income

Fair Value at December 31, 2022

Transfer In/ (Out)

Capitalized Fees,

Realized Gains/(Losses)

Unrealized Gains/(Losses)

Fair Value at December 31, 2023

Percentage of Net Assets

NON-CONTROLLED/AFFILIATE

INVESTMENTS * (1)

Debt Investments

Innovation Platform

1 unchanged sentence

$ ( 720,805 )

Debt Investments

Research, Inc.–Preferred shares, Series C

Total Debt Investments

Preferred Stock

Maven Research, Inc.–Preferred

shares, Series C

Research, Inc.–Preferred shares, Series B

15 unchanged sentences

Interactive Learning

Preferred Stock

AND SUBSIDIARIES

NOTES TO CONDENSED

CONSOLIDATED FINANCIAL STATEMENTS

Type/Industry/Portfolio Company/Investment

Interest, Fees, or Dividends Credited in Income

Fair Value at December 31, 2022

Transfer In/(Out)

Purchases, Capitalized Fees, Interest and Amortization

Realized Gains/ (Losses)

Unrealized Gains/ (Losses)

Fair Value at December 31, 2023

Percentage of Net Assets

Total Preferred

( 10,914,377 )

7 unchanged sentences

(d/b/a PublicSquare)** (6) – Warrants

Inc.–Common shares

Curious.com, Inc.–Common shares

Holdings, Inc.

27 unchanged sentences

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Indicates assets that SuRo Capital Corp.

believes do not represent

“qualifying assets” under Section 55(a) of the 1940 Act.

assets that SuRo Capital Corp.

believes do not represent “qualifying assets”

under Section 55(a) of the 1940 Act.

Of the Company’s total investments as of December

49 unchanged sentences

its investment in Ozy Media, Inc.

SURO CAPITAL CORP.

CAPITAL CORP.

AND SUBSIDIARIES

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

5 unchanged sentences

Following several intervening

approvals from the Company’s Board of Directors to increase the amount of shares of our common stock that may be repurchased under

the discretionary Share Repurchase Program and/or to extend the Share Repurchase Program to later expiration dates, most recently, on

August 7, 2023, the Company’s Board of Directors authorized an extension of, and an increase in the amount of shares of the Company’s

common stock that may be repurchased under, the discretionary Share Repurchase Program until the earlier of (i) October 31, 2024 or (ii)

the repurchase of $ 60.0 million in aggregate amount of the Company’s common stock.

approvals from the Company’s Board of Directors to increase the amount of shares of the Company’s common stock that may be

repurchased under the discretionary Share Repurchase Program and/or to extend the Share Repurchase Program to later expiration dates, on August 7, 2023, the Company’s Board of Directors authorized an extension of, and an increase in the amount of

shares of the Company’s common stock that may be repurchased under, the discretionary Share Repurchase Program until the earlier

of (i) October 31, 2024 or (ii) the repurchase of $ 60.0 million in aggregate amount of the Company’s common stock.

timing and number of shares to be repurchased will depend on a number of factors, including market conditions and alternative investment

5 unchanged sentences

procedures and the applicable provisions of the 1940 Act and the Exchange Act.

the three and six months ended June 30, 2024 and 2023, the Company did no t repurchase any shares of the Company’s common stock

under the Share Repurchase Program.

As of June 30, 2024, the dollar value of shares that remained available to be purchased by the Company

under the Share Repurchase Program was approximately $ 20.7 million.

the three and nine months ended September 30, 2024, the Company did no t repurchase any shares of the Company’s common stock under

the Share Repurchase Program.

During the three and nine months ended September 30, 2023, the Company repurchased 186,493 shares of the

Company’s common stock under the Share Repurchase Program.

As of September 30, 2024, the dollar value of shares that remained available

to be purchased by the Company under the Share Repurchase Program was approximately $ 20.7 million.

Dutch Auction Tender Offer

33 unchanged sentences

agreements of the Company, conditions to closing, indemnification rights and obligations of the parties and termination provisions.

the three and six months ended June 30, 2024 and 2023, the Company did not issue or sell Shares under the ATM Program.

As of June 30,

the three and nine months ended September 30, 2024 and 2023, the Company did not issue or sell Shares under the ATM Program.

As of September

30, 2024, up to approximately $ 98.8 million in aggregate amount of the Shares remain available for sale under the ATM Program.

1 unchanged sentence

following information sets forth the computation of basic and diluted net change in net assets resulting from operations per common share,

pursuant to ASC 260, for the three and six months ended June 30, 2024 and 2023.

pursuant to ASC 260, for the three and nine months ended September 30, 2024 and 2023.

SCHEDULE OF BASIC AND

DILUTED COMMON SHARE

Three Months Ended June 30,

Six Months Ended June 30,

Earnings per common share–basic:

Net change in net assets resulting from operations

$ ( 10,651,183 )

$ ( 15,620,024 )

Months Ended September 30,

per common share–basic:

Net change in net assets resulting

from operations

$ ( 5,452,245 )

$ ( 38,168,774 )

Weighted-average common shares–basic

Earnings per common share–basic

Earnings per common share–diluted:

Net change in net assets resulting from operations

Weighted-average common

per common share–basic

per common share–diluted:

Net change in net assets

resulting from operations

$ ( 5,452,245 )

$ ( 38,168,774 )

Adjustment for interest and amortization on 6.50 % Convertible Notes due 2029 (1)

Net change in net assets resulting from operations, as adjusted

$ ( 5,452,245 )

$ ( 38,168,774 )

Weighted-average common shares outstanding–diluted (1)

Earnings per common share–diluted

the three and six months ended June 30, 2024 and June 30, 2023, there were no potentially

dilutive securities outstanding.

Adjustment for dilutive effect of 6.50 % Convertible Notes due 2029 (1)

Weighted-average common

shares outstanding–diluted (1)

per common share–diluted

the three and nine months ended September 30, 2024, 3,225,808 potentially dilutive common

shares were excluded from the weighted-average common shares outstanding for diluted net

decrease in net assets resulting from operations per common shares because the effect of

these shares would have been anti-dilutive.

For the three and nine months ended September

30, 2023, there were no potentially dilutive securities outstanding.

7— COMMITMENTS AND CONTINGENCIES

7 unchanged sentences

The Company is not currently a party to any material legal proceedings.

CAPITAL CORP.

AND SUBSIDIARIES

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Leases and Related Deposits

Company currently has one operating lease for office space for which the Company has recorded a right-of-use asset and lease liability

for the operating lease obligation.

The lease commenced June 3, 2019 and expires August 31, 2024.

The lease expense is presented as a single

lease cost that is amortized on a straight-line basis over the life of the lease.

of June 30, 2024 and December 31, 2023, the Company booked a right-of-use asset and operating lease liability of $ 33,025 and $ 112,485 ,

Company currently has one operating lease for office space for which the Company has recorded a right-of-use asset and lease

liability for the operating lease obligation.

The lease originally commenced on June 3, 2019 and expired on August 31, 2024.

September 1, 2024, the Company extended the previous operating lease for office space for an additional term of three years and three

months, expiring March 31, 2028.

The lease expense is presented as a single lease cost

that is amortized on a straight-line basis over the life of the lease.

of September 30, 2024 and December 31, 2023, the Company booked a right-of-use asset and operating lease liability of $ 455,109 and $ 112,485 ,

respectively, on the Condensed Consolidated Statement of Assets and Liabilities.

As of June 30, 2024 and December 31, 2023, the Company

recorded a security deposit of $ 16,574 and $ 16,574 , respectively, on the Condensed Consolidated Statement of Assets and Liabilities.

For the three months ended June 30, 2024 and 2023, the Company incurred $ 53,684 and $ 50,441 , respectively, of operating lease expense.

For the six months ended June 30, 2024 and 2023, the Company incurred $ 106,346 and $ 99,164 , respectively, of operating lease expense.

As of September 30, 2024 and December 31, 2023, the

Company recorded a security deposit of $ 16,574 and $ 16,574 , respectively, on the Condensed Consolidated Statement of Assets and Liabilities.

For the three months ended September 30, 2024 and 2023, the Company incurred $ 49,512 and $ 52,472 , respectively, of operating lease expense.

For the nine months ended September 30, 2024 and 2023, the Company incurred $ 155,859 and $ 151,637 , respectively, of operating lease expense.

The amounts reflected on the Condensed Consolidated Statement of Assets and Liabilities have been discounted using the rate implicit

in the lease.

As of June 30, 2024, the remaining lease term was 0.2 years and the discount rate was 3.00 %.

following table shows future minimum payments under the Company’s operating lease as of June 30, 2024:

As of September 30, 2024, the remaining lease term was 3.3 years and the discount rate was 3.00 %.

following table shows future minimum payments under the Company’s operating lease as of September 30, 2024:

OF FUTURE MINIMUM PAYMENTS OF OPERATION LEASE

For the Year Ended December 31,

Ended December 31,

CAPITAL CORP.

3 unchanged sentences

OF FINANCIAL HIGHLIGHTS

Three Months Ended June 30,

Six Months Ended June 30,

Months Ended September 30,

Per Basic Share Data

Net asset value at beginning of the year

Net investment loss (1)

Net realized loss on investments (1)

Net change in unrealized appreciation/(depreciation) of investments (1)

Net asset value at beginning of

investment loss (1)

realized loss on investments (1)

loss on partial repurchase of 6.00% Notes due December 30, 2026 (1)

change in unrealized appreciation/(depreciation) of investments (1)

Repurchase of common stock (1)

Stock-based compensation (1)

compensation (1)

Net asset value at end of period

Per share market value at end of period

Total return based on market value (2)

return based on market value (2)

Total return based on net

12 unchanged sentences

$ 206,224,853

Ratio of net operating expenses to average net assets (3)

Ratio of net investment loss to average net assets (3)

of net operating expenses to average net assets (3)

of net investment loss to average net assets (3)

Portfolio Turnover Ratio

10 unchanged sentences

an individual investor’s ratios may vary from these ratios.

CAPITAL CORP.

AND SUBSIDIARIES

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

9— INCOME TAXES

19 unchanged sentences

stockholders.

CAPITAL CORP.

AND SUBSIDIARIES

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

a RIC, the Company will be subject to a 4 % nondeductible U.S.

33 unchanged sentences

are not currently payable/receivable.

CAPITAL CORP.

AND SUBSIDIARIES

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

federal and state income tax purposes, a portion of the Taxable Subsidiaries’ net operating loss carryforwards and basis differences

7 unchanged sentences

Further, the Company and the Taxable Subsidiaries accrue all interest and penalties related to uncertain tax positions as incurred.

of June 30, 2024, there were no material interest or penalties incurred related to uncertain tax positions.

of September 30, 2024, there were no material interest or penalties incurred related to uncertain tax positions.

CAPITAL CORP.

AND SUBSIDIARIES

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

10— DEBT CAPITAL ACTIVITIES

11 unchanged sentences

The 6.00% Notes due 2026 have a maturity

date of December 30, 2026, unless previously repurchased in accordance with their terms.

The Company has the right to redeem the 6.00%

Notes due 2026, in whole or in part, at any time or from time to time, on or after December 30, 2024 at a redemption price of 100% of

the outstanding principal amount of the 6.00% Notes due 2026 plus accrued and unpaid interest.

date of December 30, 2026, unless previously repurchased or redeemed in accordance with their terms.

The Company has the right to redeem

the 6.00% Notes due 2026, in whole or in part, at any time or from time to time, on or after December 30, 2024 at a redemption price

of 100% of the outstanding principal amount of the 6.00% Notes due 2026 plus accrued and unpaid interest.

6.00% Notes due 2026 are direct unsecured obligations of the Company and rank pari passu , or equal in right of payment, with all

9 unchanged sentences

obligations of any of the Company’s subsidiaries.

Company records fees and expenses incurred in connection with its 6.00% Notes due 2026 as deferred debt issuance costs.

Such costs are

reflected in the carrying value of the 6.00% Notes due 2026.

As of June 30, 2024 and December 31, 2023, the Company had deferred debt

issuance costs of $ 1,076,259 and $ 1,254,793 , respectively, associated with the 6.00% Notes due 2026.

Company records certain fees and expenses incurred in connection with its 6.00% Notes due 2026 as deferred debt issuance costs.

costs are reflected in the carrying value of the 6.00% Notes due 2026.

As of September 30, 2024 and December 31, 2023, the Company

had deferred debt issuance costs of $ 587,682 and

$ 1,254,793 ,

respectively, associated with the 6.00% Notes due 2026.

The table below shows a reconciliation from the aggregate principal amount

of 6.00% Notes due 2026 to the balance shown on the Condensed Consolidated Statements of Assets and Liabilities.

SCHEDULE OF CONDENSED CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES

September 30, 2024

December 31, 2023

Aggregate principal amount of 6.00% Notes due 2026

Direct deduction of deferred debt issuance costs

( 1,254,793 )

6.00% Notes due 2026 are listed for trading on the Nasdaq Global Select Market under the symbol “SSSSL”.

The reported closing

market price of SSSSL on June 30, 2024 and December 31, 2023 was $ 24.11 and $ 23.80 per note, respectively.

As of June 30, 2024 and December

31, 2023, the fair value of the 6.00% Notes due 2026 was $ 72.3 million and $ 71.4 million, respectively.

The 6.00% Notes due 2026 are

classified as Level 1 of the fair value hierarchy (Refer to “Note 2 — Significant Accounting Policies”).

30, 2024 and December 31, 2023, the Company was in compliance with the terms of the Indenture.

market price of SSSSL on September 30, 2024 and December 31, 2023 was $ 24.68 and $ 23.80 per note, respectively.

As of September 30, 2024

and December 31, 2023, the fair value of the 6.00% Notes due 2026 was $ 49.1 million and $ 71.4 million, respectively.

The 6.00% Notes

due 2026 are classified as Level 1 of the fair value hierarchy (Refer to “Note 2 — Significant Accounting Policies”).

As of September 30, 2024 and December 31, 2023, the Company was in compliance with the terms of the Indenture.

August 6, 2024, the Company’s Board of Directors approved a discretionary note repurchase program (the “Note Repurchase Program”),

which allows the Company to repurchase up to 46.67 %, or $ 35.0 million in aggregate principal amount, of its 6.00% Notes due 2026 through

open market purchases, including block purchases, in such manner as will comply with the provisions of the 1940 Act and the Exchange

During the three months ended September 30, 2024, the Company repurchased and retired $ 25.3 million of aggregate principal amount

of the 6.00% Notes due 2026.

Convertible Notes due 2029

August 14, 2024, the Company issued $ 25.0 million

aggregate principal amount of convertible notes, which bear interest at a rate of 6.50 %

per year, payable

quarterly in arrears on March 30, June 30, September 30, and December 30 of each year, commencing on September 30, 2024 (the

“6.50% Convertible Notes due 2029”).

The 6.50% Convertible Notes due 2029 were issued privately pursuant to a Notes

Purchase Agreement (the “Notes Purchase Agreement”) between the Company and the purchaser identified therein (the

“Purchaser”).

The 6.50% Convertible Notes due 2029 mature on August

14, 2029 (the “6.50% Convertible Notes due 2029”), unless previously repurchased, redeemed or converted in

accordance with the terms of the Notes Purchase Agreement .

The Company does not have the right to redeem the 6.50% Convertible

Notes due 2029 prior to August 6, 2027.

On or after August 6, 2027, the Company may redeem the 6.50% Convertible Notes due 2029 upon

the fulfillment of certain conditions .

6.50% Convertible Notes due 2029 will be convertible into shares of the Company’s common stock at the Purchaser’s sole

discretion at an initial conversion rate of 129.0323 shares of common stock per $1,000 principal amount of the 6.50% Convertible

Notes due 2029, which represent a conversion price of approximately $ 7.75 per share, subject to adjustment as provided in the Notes

Purchase Agreement.

CAPITAL CORP.

1 unchanged sentence

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

6.50% Convertible Notes due 2029 are direct unsecured obligations of the Company and rank pari passu, or equal in right of payment, with

any outstanding existing or future unsecured, unsubordinated indebtedness of the Company.

The 6.50% Convertible Notes due 2029 are junior

in right of payment to any existing or future secured credit facility;

provided, however, that if the Company enters into a future credit

facility senior in right of payment to the 6.50% Convertible Notes due 2029 (including any secured indebtedness), the interest on the outstanding principal amount of the 6.50% Convertible Notes due 2029 shall increase as of the date of such entry to 7.00 %

Company records fees and expenses incurred in connection with its 6.50% Convertible Notes due 2029 as deferred debt issuance costs.

costs are reflected in the carrying value of the 6.50% Convertible Notes due 2029.

As of September 30, 2024, the Company had deferred

debt issuance costs of $ 844,430

associated with the 6.50% Convertible Notes due

SCHEDULE OF CONDENSED CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES

September 30, 2024

December 31, 2023

Aggregate principal amount of 6.50% Convertible Notes due 2029

Direct deduction of deferred debt issuance costs

11— STOCK-BASED COMPENSATION

17 unchanged sentences

of such grant (or, if earlier, the annual meeting of the Company’s stockholders that is closest to the anniversary of such grant).

During the six months ended June 30, 2024, the Company granted 48,192 restricted shares to the Company’s non-employee directors

During the nine months ended September 30, 2024, the Company granted 48,192 restricted shares to the Company’s non-employee directors

pursuant to the Amended & Restated 2019 Equity Incentive Plan.

14 unchanged sentences

granted to a 10% Stockholder, the term of an incentive stock option will be for no more than five years from the date of grant.

the six months ended June 30, 2024, the Company did not grant any restricted shares to the Company’s officers pursuant to the Amended

& Restated 2019 Equity Incentive Plan.

the six months ended June 30, 2024 and 2023, the Company recognized stock-based compensation expense of $ 1,392,266 and $ 1,525,258 , respectively,

not including executive and employee forfeits.

As of June 30, 2024 and December 31, 2023, there were approximately $ 3,657,621 and $ 4,849,887 ,

respectively, of total unrecognized compensation costs related to the restricted share grants.

Compensation expense associated with the

restricted shares is recognized on a quarterly basis over the respective vesting periods.

the nine months ended September 30, 2024, the Company did not grant any restricted shares to the Company’s officers pursuant to

the Amended & Restated 2019 Equity Incentive Plan.

CAPITAL CORP.

1 unchanged sentence

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

following table summarizes the activities for the Company’s restricted share grants for the six months ended June 30, 2024 under

the Amended & Restated 2019 Equity Incentive Plan:

the nine months ended September 30, 2024 and 2023, the Company recognized stock-based compensation expense of $ 1,969,534 and $ 2,300,237 ,

respectively, not including executive and employee forfeits.

As of September 30, 2024 and December 31, 2023, there were approximately

$ 3,080,353 and $ 4,849,887 , respectively, of total unrecognized compensation costs related to the restricted share grants.

expense associated with the restricted shares is recognized on a quarterly basis over the respective vesting periods.

following table summarizes the activities for the Company’s restricted share grants for the nine months ended September 30, 2024

under the Amended & Restated 2019 Equity Incentive Plan:

OF EQUITY INCENTIVE PLAN

Number of Restricted Shares

of Restricted Shares

Outstanding as of December 31, 2023 (1)

Outstanding as of June 30, 2024

Vested as of June 30, 2024

Outstanding as of September 30, 2024

Vested as of September 30, 2024

(1) Not including unvested dividends.

balance of vested shares reflects the total shares vested during the period and has not been

4 unchanged sentences

12— SUBSEQUENT EVENTS

July 1, 2024 through August 7, 2024, the Company exited or received proceeds from the following investments (not including short-term U.S.

Treasury bills).

SCHEDULE OF INVESTMENTS BY COMPANY

Portfolio Company

Transaction Date

Average Net Share Price (1)

Realized Gain (2)

PSQ Holdings, Inc.

(d/b/a PublicSq.) - Common Shares (3)

The average net share price is the net share price realized after deducting

all commissions and fees on the sale(s), if applicable.

Realized gain does not include adjustments to amounts held in escrow receivable.

As of August 7, 2024, SuRo Capital held 1,756,032 PSQ Holdings, Inc.

PublicSq.) public common shares.

October 1, 2024 through November 7, 2024, the Company made the following investments (not including capitalized transaction costs).

SCHEDULE OF INVESTMENTS

CoreWeave, Inc.

Series A Preferred Shares

IH10, LLC (1)

Membership Interest

LLC’s sole portfolio asset is interest in the Series B Preferred Shares of VAST Data, Ltd.

through an SPV.

We are invested in the

Series B Preferred Shares of VAST Data, Ltd.

through our investment in the Membership Interest of IH10, LLC.

October 1, 2024 through November 7, 2024, the Company exited or received proceeds from the following investments.

OF INVESTMENTS BY COMPANY

Net Share Price (1)

Holdings, Inc.

(d/b/a PublicSq.) - Public Common Shares (3)

average net share price is the net share price realized after deducting all commissions and

fees on the sale(s), if applicable.

gain does not include adjustments to amounts held in escrow receivable.

of November 7, 2024, SuRo Capital held 793,882 PSQ Holdings, Inc.

(d/b/a PublicSq.) public

common shares.

CAPITAL CORP.

AND SUBSIDIARIES

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Company is frequently in negotiations with various private companies with respect to investments in such companies.

7 unchanged sentences

equity investments will be effectuated.

Notes due 2026 - Note Repurchase Program

October 1, 2024 and October 4, 2024, the Company repurchased an additional 201,446 units of the 6.00% Notes due 2026 under the Note Repurchase

As of November 7, 2024, the aggregate principal dollar amount of 6.00% Notes due 2026 that may yet be repurchased by the Company

under the Note Repurchase Program is approximately $ 4.7 million.

6.50% Convertible Notes Due 2029

to the Note Purchase Agreement, on October 9, 2024 the Company issued and sold, and the Purchaser purchased, $ 5.0 million in aggregate

principal amount of additional 6.50 % Convertible Notes due 2029 (the “Additional Notes”).

The Additional Notes are treated

as a single series with the Company’s outstanding 6.50 % Convertible Notes due 2029 (the “Initial Notes”) and have the

same terms as the Initial Notes.

The Additional Notes are fungible and rank equally with the Initial Notes.

Upon issuance of the Additional

Notes, the outstanding aggregate principal amount of the Company’s 6.50 % Convertible Notes due 2029 became $ 30.0 million.

Repurchase Program

August 6, 2024, the Company’s Board of Directors approved a discretionary note

repurchase program (the “Note Repurchase Program”) which allows the Company to repurchase

up to 46.67 %, or $ 35.0 million in aggregate principal amount, of its 6.00% Notes due 2026

through open market purchases, including block purchases, in such manner as will comply with

the provisions of the 1940 Act and the Exchange Act.

As of August 7, 2024, the Company had

not repurchased any of the 6.00% Notes due 2026 under the Note Repurchase Program.

Convertible Note Purchase Agreement

On August 6, 2024,

the Company entered into a Note Purchase Agreement (the “Note Purchase Agreement”), by and between the Company and the purchaser identified

therein (the “Purchaser”), pursuant to which the Company may issue up to a maximum of $ 75.0

million in aggregate principal amount of 6.50 %

Convertible Notes due 2029 (the “Convertible Notes”).

Pursuant to the Note Purchase Agreement, the Company agreed to issue and sell,

and the Purchaser agreed to purchase, up to $ 25.0 million in aggregate principal amount of the Convertible Notes (the “Initial

Thereafter, upon mutual agreement between the Company and the Purchaser, it may issue additional Convertible Notes for

sale in subsequent offerings (the “Additional Notes”), or issue additional notes with modified pricing terms (the “New

Notes”), in the aggregate for both the Additional Notes and the New Notes, up to a maximum of $ 50.0 million in one or more private

The Purchaser will acquire, and the Company will issue, up to $ 25.0 million of the Initial Notes on or about August 14, 2024 (the “Initial

Closing Date”), and thereafter at such time and date as the Purchaser and the Company mutually agree to purchase and sell any Additional

Interest on the

Convertible Notes will be paid quarterly in arrears on March 30, June 30, September 30, and December 30, at a rate of 6.50 %

per year, beginning September 30, 2024.

The Convertible Notes will mature on August 14, 2029 and may be redeemed in whole or

in part at any time or from time to time at the Company’s option on or after August 6, 2027 upon the fulfillment of

certain conditions.

Convertible Notes will be convertible into shares of the Company’s common stock at the Purchaser’s sole discretion at an initial

conversion rate of 129.0323 shares of the Company’s common stock per $1,000 principal amount of the Convertible Notes, subject to adjustment as provided in the Note Purchase Agreement.

The net proceeds from the offering will be used to repay outstanding indebtedness, make

investments in accordance with the Company’s investment objective and investment strategy, and for other general corporate

The Note Purchase Agreement includes customary representations, warranties, and covenants by the Company.

October 29, 2024, the Company’s Board of Directors authorized an extension of the Company’s discretionary Share Repurchase

Program until the earlier of (i) October 31, 2025 or (ii) the repurchase of $ 64.3 million in aggregate amount of the Company’s

common stock.

timing and number of shares to be repurchased pursuant to the Company’s discretionary Share Repurchase Program will depend on a

number of factors, including market conditions and alternative investment opportunities.

The Share Repurchase Program may be suspended,

terminated or modified at any time for any reason and does not obligate the Company to acquire any specific number of shares of its common

Under the Share Repurchase Program, the Company may repurchase its outstanding common stock in the open market, provided that

it complies with the prohibitions under its insider trading policies and procedures and the applicable provisions of the 1940 Act and

the Exchange Act.

of November 7, 2024, the dollar value of shares that remained available to be purchased by the Company under the Share Repurchase Program

was approximately $ 25.0 million.

13— SUPPLEMENTAL FINANCIAL DATA

5 unchanged sentences

under the applicable rules of Regulation S-X.

Company’s two controlled portfolio companies as of June 30, 2024, SPBRX, INC.

(f/k/a GSV Sustainability Partners, Inc.) and Colombier

Sponsor II LLC, did not meet the definition of a “significant subsidiary” as set forth in Rule 1-02(w)(2) of Regulation S-X.

For comparability purposes, the Company has omitted the previously disclosed summarized financial information of the Company’s

significant subsidiaries for the quarter ended June 30, 2023 as the Company’s significant subsidiaries would not have been considered

significant subsidiaries under Rule 1-02(w)(2).

Company’s controlled portfolio company as of September 30, 2024, Colombier Sponsor II LLC, did not meet the definition of a “significant

subsidiary” as set forth in Rule 1-02(w)(2) of Regulation S-X.

For comparability purposes, the Company has omitted the previously

disclosed summarized financial information of the Company’s significant subsidiaries for the quarter ended September 30, 2023 as

the Company’s significant subsidiaries would not have been considered significant subsidiaries under Rule 1-02(w)(2).

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements