Good day, and welcome to the SuRo Capital's Third Quarter 2023 Earnings Conference Call. Today's call is being recorded. Your lines will be on listen-only. However, you will have the opportunity to ask questions at the end. [Operator Instructions] I will now hand you over to your host Adam Bates to begins today's conference. Thank you.

Thank you for joining us on today's call. I am joined today by the Chairman and Chief Executive Officer of SuRo Capital, Mark Klein; and Chief Financial Officer, Allison Green. Please note that, a slide presentation corresponding to today's prepared remarks by management is available on our website at www.surocap.com under Investor Relations, Events & Presentations. Today’s call is being recorded and broadcast live on our website, www.surocap.com. Replay information is included in our press release issued today. This call is the property of SuRo Capital and the unauthorized reproduction of this call in any form is strictly prohibited. I would also like to call your attention to customary disclosures in today's earnings press release regarding forward-looking information. Statements made in today's conference call and webcast may constitute forward-looking statements, which relate to future events or our future performance or financial condition. These statements are not guarantees of our future performance or future financial condition or results and involve a number of risks, estimates, and uncertainties, including the impact of any market volatility that may be detrimental to our business, our portfolio companies, our industry,, and the global economy that could cause actual results to differ materially from the plans, intentions, and expectations reflected in or suggested by the forward-looking statements. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including but not limited to those described from time-to-time in the company’s filings with the SEC. Management does not undertake to update such forward-looking statements unless required to do so by law. To obtain copies of SuRo Capital's latest SEC filings, please visit our website at www.surocap.com or the SEC’s website at sec.gov. Now, I would like to turn the call over to Mark Klein.

Thank you, Adam. Good afternoon and thank you for joining us. We are pleased to share the results of SuRo Capital's third quarter 2023. The third quarter of 2023 was characterized by a broad ongoing weakness in the public equity and bond markets. Economic uncertainty has continued into the fourth quarter, although recent reports and commentary from Federal Reserve has led investors believe the Fed may be done or close to done raising interest rates.\ While the fee be done with interest rate hikes geopolitical unrest, including wars in Israel and Ukraine, coupled with a view that consumers are pulling back has fueled continued volatility in the equity markets. In the first half of the year, we expressed our view that we believe the IPO market could open in Q3, which, in fact, did occur. Unfortunately, while there were several notable tech companies that debuted in the public markets, as of today, all of these companies have declined from their IPO price. The poor performance of these stocks as well as other IPOs has led to a pause in the IPO market. The IPO market is broadly closed and will likely reopen during the first or second quarter of 2024. The apparent delay in the IPO market has led to more volatility in the private markets with secondary trading in many instances, being significantly inconsistent with public comparables. As we have highlighted for several quarters, there is a disconnect between pricing of late-stage secondary opportunities and the recent performance of public markets. While we have been fortunate to find what we believe to be a couple of excellent opportunities, these are more the exception than the rule as valuations of private markets remain inconsistent and higher than their public components. To that end, we have observed private secondary opportunities trading…

Thank you, Mark. I would like to follow Mark's update with a more detailed review of our portfolio activities since the start of the third quarter, details on the share of purchase program, followed by our financial results as of September 30, 2023, and finally, our liquidity positions. First, I'd like to provide a more detailed update on our investment portfolio activity for the third quarter and subsequent to quarter end. This does not include investments in short-term US Treasuries. During the third quarter, we invested a total of $7.3 million in new and follow-on investments. These include a $0.8 million investment in four types of common shares via a secondary transaction, a $1 million investment spent through SuRo Capital Sports and Profit Exchange's simple agreement for future equity or states. And a $500,000 fall on investment in Series B4 preferred shares for which we also received awards. Over the course of the third quarter, we continued to monetize our Nextdoor public shares. We sold 589,996 public common shares Nextdoor for approximately $1.8 million of net proceeds, resulting in a net realized loss of approximately $1.4 million. In addition to sales of our unrestricted publicly traded investments, we received approximately $266,000 in proceeds from Second Avenue related to principal repayment and interest on the 15% term loan due December 2023, as well as other investment dividend and interest income. At the quarter end, we made a $325,000 follow-on investment through SuRo Capital Sports and X-Point Convertible Notes. Subsequent to quarter end as well, through yesterday we sold $57,931 PSQ Holdings Inc warrants for approximately $68,000 of net proceeds, resulting in a net realized gain of approximately $39,000. Finally, in subsequent quarter end, we received approximately $86,000 in net proceeds from Second Avenue related to principal repayment and interest on the…

Thank you, everybody, for participating on our call. We greatly appreciate your support. If you have any further follow-up questions, feel free to reach out to us either through our IR portal or just directly through e-mail. Thank you very much.

That concludes today's event. Thank you for your participation. You may now disconnect.