Form 8-K - Current report

 

___________________________________________

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): August 20, 2024

 

EQUUS TOTAL RETURN, INC.

(Exact Name of Registrant as Specified in its Charter)

 

 

Delaware	814-00098	76-0345915
(State or Other Jurisdiction	(Commission File	(IRS Employer
Of Incorporation)	Number)	Identification No.)

 

700 Louisiana Street, 48th Floor Houston, Texas	77002
(Address of Principal Executive Offices)	(Zip Code)

 

Registrant’s telephone number, including area code: [phone]

 

N/A

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-k filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

Item 8.01

Other Events.

 

On August 20, 2024, Equus Total Return, Inc. issued a press release announcing its net asset value for the quarter ended June 30, 2024. The text of the press release is included as Exhibit 99.1 to this Current Report and is incorporated herein by reference.

 

 

Item 9.01

Financial Statements and Exhibits.

 

(d) Exhibits.

 

99.1       Press release issued on August 20, 2024.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

	Equus Total Return, Inc.
Date:  August 20, 2024	By:  /s/ Kenneth I. Denos
	Name: Kenneth I. Denos
	Title: Secretary

 

 

 

EXHIBIT 99.1

 

Contact:

 

Patricia Baronowski
Pristine Advisers, LLC
[phone]

EQUUS ANNOUNCES SECOND QUARTER NET ASSET VALUE

 

HOUSTON, TX – August 20, 2024 – Equus Total Return, Inc. (NYSE: EQS) (“Equus” or the “Company”) reports net assets as of June 30, 2024, of $49.8 million. Net asset value per share increased to $3.66 as of June 30, 2024, from $3.38 as of March 31, 2024. Comparative data is summarized below (in thousands, except per share amounts):

As of the Quarter Ended	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023
Net assets	$49,792	$45,892	$48,287	$47,128	$40,051
Shares outstanding	13,586	13,586	13,586	13,518	13,518
Net assets per share	$3.66	$3.38	$3.55	$3.49	$2.96

 

 

The following were the principal contributors to the changes in fair value of the Company’s portfolio holdings in the second quarter of 2024:

 

Increase in Fair Value of Morgan E&P. During 2023, the Company formed Morgan E&P, LLC (“Morgan”), as a wholly-owned subsidiary and completed the acquisition of approximately 5,897 net acres in the Bakken/Three Forks formation in the Williston Basin of North Dakota. During the second quarter of 2024, Morgan acquired an additional 810 net acres, which resulted in an increase in Morgan’s proved reserves, as well as the number of future drilling sites. As of June 30, 2024, we recorded the fair value of Morgan’s equity at approximately $26.0 million, an increase of $4.75 million from March 31, 2024.

 

The Company received advice and assistance from a third-party valuation firm to support its determination of the fair value of its investment in Morgan.

 

About Equus

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 on the Company may be obtained from the Company’s website at www.equuscap.com.

 

This press release may contain certain forward-looking statements regarding future circumstances. These forward-looking statements are based upon 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 such forward-looking statements including, in particular, the performance of the Company, including our ability to achieve our expected financial and business objectives, and the 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 to the date hereof. Except as required by law, the Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the Company or any other person that the events or circumstances described in such statements are material.

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