Neostellar Capital Corp. completed a $20 million investment in TensorWave and a $9.5 million investment in ClickHouse during the second quarter ended June 30, 2026, driving its preliminary net asset value to an estimated $13.25 to $13.75 per share. The company funded the remaining $15 million commitment to TensorWave through Magnetar Opportunity 2025-4 LP, adding to an initial $5 million investment made in the first quarter of 2026. These moves align with its strategy to partner with category-leading private technology companies benefiting from durable secular growth trends in artificial intelligence and enterprise software infrastructure.

Effective July 1, 2026, the company changed its name from SuRo Capital Corp. to Neostellar Capital Corp. and its Nasdaq ticker symbol from "SSSS" to "NSLR". Mark Klein, Chairman and Chief Executive Officer, stated that stockholders overwhelmingly approved the transition to an externally managed structure, which is now subject to customary regulatory approvals expected in the near-term. The company believes this evolution will enhance sourcing capabilities and broaden its investment opportunity set.

Investment Portfolio Update

As of June 30, 2026, Neostellar Capital held positions in 37 portfolio companies, consisting of 34 privately held and 3 publicly held entities. During the quarter, the company deployed capital into three primary investments, including the completion of its Magnetar Opportunity 2025-4 LP funding and a significant stake in ClickHouse.

Magnetar Opportunity 2025-4 LP is a special purpose vehicle invested in TensorWave, Inc. The entire $20.0 million capital commitment to this vehicle has been funded as of June 30, 2026.

Realized Gains and Exits

The company exited several positions during the quarter, realizing significant gains from sales in CoreWeave and GrabAGun Digital Holdings Inc. It also fully exited its investment in HL Digital Assets Inc., which primarily invests in the HYPE digital token.

Subsequent to the quarter-end through July 8, 2026, the company received additional proceeds from the sale of 110,855 common shares of GrabAGun Digital Holdings Inc. at an average net share price of $3.13, generating $0.3 million in net proceeds and $0.2 million in realized gain. As of July 8, 2026, the company retains 341,764 common shares of GrabAGun Digital Holdings Inc.

Financial Position

Liquid assets totaled approximately $14.7 million as of June 30, 2026, comprising cash and securities of publicly traded portfolio companies. The company reported 26,473,222 shares of common stock outstanding. Net assets were approximately $361.6 million, or $14.24 per share, as of March 31, 2026, compared to approximately $219.4 million, or $9.18 per share, as of June 30, 2025. The preliminary estimates for the second quarter are unaudited and subject to change. Neostellar Capital expects to announce its second quarter results in August 2026.