Equus Total Return, Inc. Announces Infinia Investment Write Down
06 November 2009 - 10:10PM
PR Newswire (US)
HOUSTON, Nov. 6 /PRNewswire-FirstCall/ -- Equus Total Return, Inc.
(NYSE: EQS) (the "Fund") announces a write down of its equity
investment in Infinia Corporation ("Infinia") from $17.5 million to
$10.6 million. The principal reason for the write down is the
recapitalization of the Infinia ownership structure related to its
most recent fund raising efforts. Infinia intends to raise
additional capital in the immediate future. The timing and size of
successful capital raising efforts will most likely dilute the
Fund's ownership which could impact the valuation of this
investment. As of June 30, 2009, the Infinia investment represented
approximately 24% of the Fund's total net assets. 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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