10-K · March 11, 2026
SuRo Capital Corp. demonstrated a strong recovery in 2025, reporting a net change in net assets from operations of $48.8 million, a significant turnaround from a loss of $38.1 million in 2024. The company executed…
Earnings analysis · 10-K
NSLR earnings analysis
Filed September 23, 2026 · Our reading of the company's report
The latest report
This Form 10-K/A is an administrative amendment rather than a substantive annual-results filing. It re-files the Marcum LLP senior-securities report and adds updated certifications, while expressly leaving the original…
Read full summary
This Form 10-K/A is an administrative amendment rather than a substantive annual-results filing. It re-files the Marcum LLP senior-securities report and adds updated certifications, while expressly leaving the original Form 10-K’s financial and operating disclosures unchanged. The key disclosed considerations are the 6.00% notes due in 2026 and the absence of updated financial information or quantitative outlook.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
What stood out
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Share Count and Listing Confirmed
The amendment confirms that Neostellar Capital Corp. had 26,473,222 common shares outstanding as of September 23, 2026. The filing identifies the common stock as Nasdaq-listed under ticker NSLR.
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Reported Equity Market Value
The company reported an aggregate market value of common stock held by non-affiliates of $179,919,391, based on a June 30, 2025 closing price of $8.21.
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Administrative Filing Correction
The filing states that the amendment is solely to re-file the Marcum LLP report as Exhibit 99.1 after the conformed signature and firm name were omitted from the original exhibit.
What to watch
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Near-Term Debt Maturity
The company has 6.00% notes due in 2026, creating a near-term refinancing, repayment, or liquidity consideration. The amendment does not provide updated information about repayment capacity because it contains no financial statements.
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Filing-Control Error
The filing acknowledges an inadvertent clerical error in the original Exhibit 99.1, where the manually signed Marcum LLP report’s conformed signature and firm name were omitted. Although corrected here, the error indicates a filing-process control issue.
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No Updated Financial Disclosure
This amendment expressly states that it does not modify or update the company’s financial position, results of operations, cash flows, or other disclosures from the original Form 10-K. Investors therefore receive no updated annual financial or operating information from this filing.
Management's outlook
This Form 10-K/A is limited to re-filing Exhibit 99.1 and expressly states that it does not update the company’s financial position, results of operations, cash flows, or other disclosures. No quantitative outlook is provided.
Earlier filings 3
10-Q · November 6, 2025
SuRo Capital Corp. reported significant fluctuations in its financial results for the quarter ended September 30, 2025, showing a strong recovery in net realized gains, contrasting with a net loss in the same period…
10-Q · August 7, 2025
SuRo Capital Corp. reported substantial changes in its performance for the six months ending June 30, 2025, with a significant increase in net realized gains primarily driven by strategic exits from investments. All key…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.