HOUSTON, June 12, 2017 (GLOBE NEWSWIRE) -- Equus Total Return, Inc. (NYSE:EQS)  announced that it has received full payment of its senior secured promissory note issued by Biogenic Reagents, LLC, a developer and producer of high value carbon products from renewable biomass. The Note was issued to Equus by Biogenic on January 29, 2016 in the original principal amount of $2.0 million as a short-term bridge loan from Equus to enable Biogenic to further certain research and development efforts and provide working capital. During 2016, Equus received $40,000 in cash interest in respect of the Note.

As security for repayment for the Biogenic Note, Equus held a senior security interest in all of the tangible and intangible assets of Biogenic, including the equity held by Biogenic in its subsidiaries. The value of this security was appraised in August 2016 for an amount considerably in excess of the Note. Accordingly, as of March 31, 2017, Equus had ascribed a fair value of $2.01 million to the Note.

On Wednesday, June 7, 2017, in connection with the liquidation of Biogenic’s assets and repayment of the Note, Equus received $2.4 million in cash, consisting of the original principal amount of the Note, together with approximately $407,000 in interest as accrued thereon.

About Equus

Equus is presently a business development company (BDC) that trades as a closed-end fund on the New York Stock Exchange, under the symbol "EQS". Additional information about Equus can be obtained from its website at www.equuscap.com.