Equus Announces Second Quarter Net Asset Value

Nachrichtenquelle: globenewswire
14.08.2020, 01:26  |  153   |   |   

HOUSTON, Aug. 13, 2020 (GLOBE NEWSWIRE) -- Equus Total Return, Inc. (NYSE: EQS) (the “Fund” or “Equus”) reports net assets as of June 30, 2020, of $41.5 million, an increase of approximately $2.6 million since March 31, 2020.  Net asset value per share increased to $3.07 as of June 30, 2020 from $2.88 as of March 31, 2020.  Comparative data is summarized below (in thousands, except per share amounts): 

As of the Quarter Ended 6/30/2020 3/31/2020 12/31/2019 9/30/2019 6/30/2020
Net assets $ 41,469 $ 38,895 $ 45,989 $ 49,024 $ 47,933
Shares outstanding   13,518   13,518   13,518   13,518   13,518
Net assets per share $ 3.07 $ 2.88 $ 3.40 $ 3.63 $ 3.55

The following were the portfolio companies that experienced increases in their fair values during the second quarter of 2020:

  • Increase in the Value of PalletOne.  Equus holds an 18.7% fully-diluted share interest in PalletOne, Inc. (“PalletOne”) one of the nation’s largest wooden pallet manufacturers and a major supplier of treated lumber in the southeastern United States.  The fair value of the Fund’s share interest in PalletOne increased from $26.5 million to $27.5 million during the second quarter of 2020, principally as a result of strong operational results during the quarter and the trailing twelve months ended June 30, 2020.  The Fund received advice and assistance from a third-party valuation firm to support its determination of the fair value of this investment.  Notwithstanding the strong operational results of PalletOne, it remains uncertain as to the extent that the general economic contraction caused by the coronavirus may have on the business of PalletOne in subsequent quarters in 2020 and into 2021 (see A Note About the Coronavirus and Other Events below).
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