SEC 8-K filings with transcript text
Oct 5, 2026
2 ex99-1.htm
Exhibit 99.1
Neostellar Capital Corp. Announces Third Quarter 2026
Preliminary Investment Portfolio Update
Net Asset Value Expected to be $12.25 to $12.75 Per Share
NEW YORK, NY, October 5, 2026 (GLOBE NEWSWIRE) – Neostellar Capital Corp. (“Neostellar Capital”, the “Company”, “we”, “us”, and “our”) (Nasdaq: NSLR) today provided a preliminary update on its investment portfolio for the third quarter ended September 30, 2026.
“During the third quarter, we remained encouraged by the growth prospects of our core portfolio, supported by expanding AI adoption, increasing demand for compute and continued innovation in digital health,” said Mark Klein, Chairman and Chief Executive Officer of Neostellar Capital.
“While the IPO market showed early signs of reopening in Q3, the recovery has been slower than anticipated amid macroeconomic and geopolitical uncertainty. We remain confident in the strength of our portfolio companies and their ability to pursue liquidity opportunities, including IPOs, when timing and market conditions support long-term value creation.”
“As always, our shareholders’ best interests guide our decisions. Consistent with our prior practice, our shelf registration filing preserves the flexibility to raise capital when doing so would be accretive to shareholders. We will exercise that flexibility with discipline and a continued focus on building long-term shareholder value,” Mr. Klein concluded.
Preliminary Net Asset Value
As previously reported, the Company’s net assets totaled approximately $355.9 million, or $13.44 per share, as of June 30, 2026, compared to approximately $231.8 million, or $9.23 per share, as of September 30, 2025. As of September 30, 2026, the Company’s net asset value is estimated to be between $12.25 and $12.75 per share.
Investment Portfolio Update
As of September 30, 2026, the Company held positions in 34 portfolio companies – 30 privately held and 4 publicly held.
During the three months ended September 30, 2026, the Company made the following investment:
Portfolio Company Investment Transaction Date Amount(1)
Shogun Enterprises, Inc. (d/b/a Hearth)(2) Common Shares 7/10/2026 <$0.1 million
(1)Amount invested does not include capitalized costs or prepaid expenses, if applicable.
(2)On July 10, 2026, the Company exercised 86,076 warrants and received 86,076 Common Shares of Shogun Enterprises, Inc. (d/b/a Hearth).
During the three months ended September 30, 2026, the Company exited and/or received proceeds from the following investments:
Portfolio Company
Transaction
Date
Quantity/
Initial
Capital
Average Net
Share
Price(1)
Net
Proceeds
Realized
Gain/(Loss)
GrabAGun Digital Holdings Inc. - Common Shares(2)
Various 143,655 $3.12 $0.4 million $0.3 million
Aventine Property Group, Inc. 7/8/2026 312,500 $0.10 <$0.1 million $(2.5 million)
CW Opportunity 2 LP 8/21/2026 3.8% N/A $2.0 million $1.4 million(3)
Learneo, Inc. (f/k/a Course Hero, Inc.) 9/21/2026 2,421,168 $3.88 $9.4 million $(5.6 million)
CTN Holdings, Inc. (d/b/a Catona Climate, f/k/a Aspiration Partners, Inc.)(4) 9/25/2026 565,182 N/A $- $(1.3 million)
(1)The average net share price is the net share price realized after deducting all commissions and fees on the sale(s), if applicable.
(2)As of September 30, 2026, the Company holds 308,964 common shares of GrabAGun Digital Holdings, Inc.
Opportunity 2 LP is an SPV for which the Class A Interest is solely invested in the Class A Common Shares of CoreWeave, Inc. Realized gain is calculated based on the current reporting by the SPV and may be subject to change or adjustment due to the impact of performance fees.
(4)On September 25, 2026, the Company abandoned its investment in CTN Holdings, Inc. (d/b/a Catona Climate, f/k/a Aspiration Partners, Inc.).
The Company’s liquid assets were approximately $42.2 million as of September 30, 2026, consisting of cash and securities of publicly traded portfolio companies not subject to certain restrictions at quarter-end.
As of September 30, 2026, there were 26,473,222 shares of the Company’s common stock outstanding.
Magnetar 6.50% Redeemable Promissory Note due 2029
On July 17, 2026, the Company received gross proceeds of $20.0 million pursuant to a redeemable promissory note issued to a Magnetar-affiliated entity. The redeemable promissory note bears interest at 6.50% per annum, payable semiannually in cash, and matures on July 16, 2029, unless earlier repaid through the issuance of shares of the Company’s common stock upon the completion of a transaction or series of transactions that result in at least $230.0 million of gross proceeds to the Company. In such event, the outstanding principal and accrued interest would be satisfied through the issuance of shares of the Company’s common stock at the price per share of common stock sold by the Company in the latest of such transactions in which the Company raised at least $5.0 million in aggregate net pro
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