Neostellar (fka SuRo) launches externally managed BDC with Magnetar, issues $20M note

SURO CAPITAL CORP.

Externalization effective July 15, 2026; Neostellar Advisors LLC (joint venture with Magnetar) becomes investment adviser.
Base management fee of 1.75% of gross assets; incentive fee with 1.75% quarterly hurdle (income) and 7% annual hurdle (capital gains).
Issued $20M redeemable promissory note to Magnetar affiliate MCP Investing LLC at 6.50% interest, maturing 2029.
Erik Falk, Magnetar Partner and Head of Strategy, appointed to Board of Directors effective July 15, 2026.
Company now trades on Nasdaq under new ticker NSLR; Magnetar affiliate invested $20M in the company.

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