Positive Portfolio Developments and Strategic Investments Drive Buy Rating for SuRo CapitalWe also apply a $25B valuation to VAST Data and adjust for post-3Q transactions. We also note that the 2029 Convertible Notes are in- the-money given the $7.53/share conversion price. Using the known $500B valuation OpenAI achieved in the early October investment made by strategic investors, we estimate SuRo's mark-to-market ~$10.50 assuming conversion of the 2029 notes. Applying a $1T valuation to OpenAI gives us a mark-to-market ~$12 assuming conversion of the 2029 notes. In terms of the share price, we're raising our PT to $10.50 from $10 given the ongoing positive developments within the portfolio. While OpenAI is the highest profile driver, there are many potential contributors for meaningful future value creation including WHOOP , Canva (Private) and Blink Health (Private).