Equus Total Return, Inc. Announces $13.8 Million Write Down
17 February 2010 - 8:43AM
PR Newswire (US)
HOUSTON, Feb. 16 /PRNewswire-FirstCall/ -- Equus Total Return, Inc.
(NYSE: EQS) (the "Fund") announces a decrease in the value of its
portfolio securities of approximately $13.8 million. This decrease
is related to the Fund's investments in Infinia Corporation
("Infinia") and Riptide Entertainment, LLC ("Riptide"). The Fund's
Infinia holdings declined from $10.6 million to $1.5 million due to
a recapitalization of the Infinia ownership structure related to
its most recent fund raising efforts in which the Fund's holdings
were diluted. The principal reason for Riptide's decline in value
from $7.9 million to $3.2 million is due to Riptide's current
financial position and operating performance. Equus 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 Equus Total Return, Inc. may be obtained from the Equus website
at http://www.equuscap.com/. This press release may contain certain
forward-looking statements regarding future circumstances. These
forward-looking statements are based upon the Fund'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 risks and uncertainties described in
the Fund's filings with the Securities and Exchange Commission.
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. The Fund
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 fund or any other
person that the events or circumstances described in such
statements are material. CONTACT: BRETT CHILES (713) 529-0900
DATASOURCE: Equus Total Return, Inc. CONTACT: Brett Chiles of Equus
Total Return, Inc., +1-713-529-0900 Web Site:
http://www.equuscap.com/
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