Equus announces third quarter net asset value
HOUSTON, November 15, 2021 (GLOBE NEWSWIRE) – Equus Total Return, Inc. (NYSE: EQS) (“Equus” or the “Company”) reports net assets as at September 30, 2021 of $ 36.2 million, an increase of approximately $ 1.5 million since June 30, 2021. The net asset value per share was increased to $ 2.68 as at September 30, 2021 from $ 2.57 as at June 30, 2021. Comparative data is summarized below (in thousands, except per share amounts):
|At the end of the term||09/30/2021||06/30/2021||03/31/2021||12/31/2020||09/30/2020|
|Net assets||$ 36,243||$ 34,724||$ 34,075||$ 33,777||$ 37,431|
|Net assets per share||$ 2.68||$ 2.57||$ 2.52||$ 2.50||$ 2.77|
The following were the main contributors to the growth in net asset value during the third quarter of 2021:
- Increase in the value of Equus Energy. During the third quarter of 2021, the fair value of Equus Energy, LLC increased from $ 10.25 million to $ 12.0 million. Among the various leasehold rights held by Equus Energy is a 50% working interest in 2,400 acres in the Permian Basin known as the Conger Field. A number of transactions completed in late 2020 and the first nine months of 2021 were concentrated in the Permian Basin, at imputed area values significantly higher than values attributed to such area in recent years. In addition, there were price increases for crude and natural gas during the quarter.
Equus also owns a 7.5% and 2.5% direct interest in the Burnell and North Pettus units, respectively, which total approximately 13,000 acres located in the area known as the “Eagle Ford Shale” area. The Company received advice and assistance from a third party valuation firm to support its determination of the fair value of this investment.
- Increase in escrow receivable related to sale of PalletOne. After the end of the third quarter of 2021, we received $ 1.2 million in cash, which was the last installment of the proceeds from the sale of PalletOne in December 2020. The recently received amount was approximately 0.5% higher. million dollars the amount we received. accrued as receiver receivable for this final payment.
The Company is a business development company that trades as a closed-end fund on the New York Stock Exchange under the symbol “EQS”. Additional information about the Company can be obtained from the Company’s website at www.equuscap.com.
This press release may contain certain forward-looking statements concerning future circumstances. These forward-looking statements are based on the Company’s current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in these forward-looking statements, including, in particular, the performance of the Company, including our ability to meet our expected financial and business objectives, and other risks and uncertainties described in the Company’s filings with the SEC. Actual results, events and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by law, the Company does not undertake to publicly disclose any revisions to these forward-looking statements that may be made to reflect events or circumstances subsequent to the date hereof or to reflect the occurrence of unforeseen events. . The inclusion of any statement in this press release does not constitute an admission by the Company or any other person that the events or circumstances described in such statements are material.
Pristine Consultants, LLC