Equus shareholders authorize Board to withdraw BDC election for transformation into operating company

EQUUS TOTAL RETURN, INC.

Shareholders holding 55.64% of outstanding common stock (7,511,448 shares) authorized BDC election withdrawal.
Withdrawal must occur by January 31, 2022, contingent on a definitive agreement to acquire an operating company.
The move is part of a strategic transformation from a closed-end fund to an operating company structure.
Potential advantages cited: more growth opportunities, earnings-based valuation, lower compliance costs, and flexible equity issuance.
Covid-19 Delta variant disruptions may adversely affect pursuit of a transformative transaction.

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