Recent Updates — NSLRL
Neostellar Capital Corp. disclosed preliminary net asset value estimates for the third quarter ended September 30, 2026, projecting a range of $12.25 to $12.75 per share. This represents an increase from $9.23 per share as of September 30, 2025, and follows a June 30, 2026 estimate of $13.44 per share. The company held positions in 34 portfolio companies at quarter-end, including exits from Learneo and CW Opportunity 2 LP which generated net proceeds. Additionally, the firm received $20.0 million in gross proceeds from a Magnetar-affiliated redeemable promissory note due in 2029 and repurchased approximately $1.98 million of its 6.00% Notes under an existing repurchase program. Neostellar Capital Corp. is a publicly traded investment company focused on investing in private, venture-backed businesses.
Neostellar Capital Corp. reported financial results for the second quarter ended June 30, 2026, showing net assets of $355.9 million, or $13.44 per share, down from $14.24 per share at March 31, 2026. The company recorded a net investment loss of $23.4 million ($0.90 per share), which included approximately $20.0 million in accelerated expenses related to its transition to an externally managed structure. Net realized gains on investments totaled $5.0 million, while the portfolio's fair value reached $405.9 million across 37 companies. Subsequent to quarter-end, Neostellar received a $20.0 million redeemable promissory note from a Magnetar affiliate and completed its transition to an externally managed platform under Neostellar Advisors LLC. The company operates as a publicly traded investment firm focused on investing in private, venture-backed businesses.
Neostellar Capital Corp. (formerly SuRo Capital Corp.) transitioned to an externally managed structure effective July 15, 2026, entering into an Investment Advisory Agreement with Neostellar Advisors LLC. The company also issued a $20,000,000 redeemable promissory note to MCP Investing LLC at a 6.50% annual interest rate, which is due in 2029. Additionally, Erik Falk of Magnetar has been appointed to the Board of Directors. Neostellar Capital Corp. is a business development company that invests in private, venture-backed businesses.
On July 8, 2026, Neostellar Capital Corp. provided preliminary second quarter estimates for the period ended June 30, 2026. The company estimated its net asset value (NAV) to be between $13.25 and $13.75 per share, compared to $14.24 per share as of March 31, 2026. During the quarter, the company invested $0.2 million in Huntress Labs Inc., $9.5 million in ClickHouse, Inc., and $15.0 million in Magnetar Opportunity 2025-4 LP. It realized net proceeds of $6.5 million from CW Opportunity 2 LP, $0.5 million from GrabAGun Digital Holdings Inc., and $5.2 million from a full exit of HL Digital Assets Inc. Liquid assets totaled approximately $14.7 million as of June 30, 2026. The company is a business development company that invests in a portfolio of private and public companies.
On June 23, 2026, SuRo Capital Corp. filed Articles of Amendment to change its corporate name to Neostellar Capital Corp., effective July 1, 2026. Consequently, the Nasdaq trading symbols for its common stock and 6.00% Notes due 2026 will change from "SSSS" to "NSLR" and "SSSSL" to "NSLRL," respectively. The company also approved Third Amended and Restated Bylaws to reflect the name change, effective July 1, 2026. The company is a business development company that provides financing to middle-market companies.
SuRo Capital Corp. held its 2026 annual meeting on June 10, 2026, where stockholders approved the re-election of directors Mark D. Klein and Lisa Westley, advisory compensation for named executive officers, and the ratification of CBIZ CPAs P.C. as the independent auditor. Additionally, at a special meeting held the same day, stockholders approved an Advisory Agreement with Neostellar Advisors LLC. This approval facilitates the company's transition from an internally managed to an externally managed business development company, a process expected to be effective around July 1, 2026. SuRo Capital Corp. is a business development company.