<SEC-DOCUMENT>0001322410-21-000103.txt : 20210820
<SEC-HEADER>0001322410-21-000103.hdr.sgml : 20210820
<ACCEPTANCE-DATETIME>20210820172112
ACCESSION NUMBER:		0001322410-21-000103
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20210820
ITEM INFORMATION:		Submission of Matters to a Vote of Security Holders
ITEM INFORMATION:		Other Events
FILED AS OF DATE:		20210820
DATE AS OF CHANGE:		20210820

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EQUUS TOTAL RETURN, INC.
		CENTRAL INDEX KEY:			0000878932
		IRS NUMBER:				760345915
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	814-00098
		FILM NUMBER:		211194680

	BUSINESS ADDRESS:	
		STREET 1:		700 LOUISIANA STREET
		STREET 2:		48TH FLOOR
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77002
		BUSINESS PHONE:		7135290900

	MAIL ADDRESS:	
		STREET 1:		700 LOUISIANA STREET
		STREET 2:		48TH FLOOR
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77002

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EQUUS II INC
		DATE OF NAME CHANGE:	19970422
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f8k_equus08202021.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="text-align: center; font: 20pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><B>___________________________________________</B></P>

<P STYLE="font: 20pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 20pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 20pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center">CURRENT REPORT</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center">Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of Report (Date of earliest event reported):
August 17, 2021</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 20pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EQUUS TOTAL RETURN, INC.</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact Name of Registrant as Specified in its
Charter)</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;&nbsp;&nbsp;<B>814-00098</B></TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>76-0345915</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt">(State or Other Jurisdiction</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt">(Commission File</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt">(IRS Employer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Of Incorporation)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Number)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>700 Louisiana Street, 48<SUP>th</SUP> Floor
        Houston, Texas</B></P></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>77020</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt">(Address of Principal Executive Offices)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt">(Zip Code)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Registrant&rsquo;s telephone number, including
area code: (713) 529-0900</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>N/A</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Former Name or Former Address, if Changed Since
Last Report)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Check the appropriate box below if the Form 8-k filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">[ ] Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; background-color: white">Indicate by check mark whether the
registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &sect;230.405) or Rule 12b-2
of the Securities Exchange Act of 1934 (17 CFR &sect;240.12b-2). <FONT STYLE="font-family: MS Mincho">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided
pursuant to Section 13(a) of the Exchange Act. <FONT STYLE="font-family: MS Mincho">&#9744;</FONT></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 5.07</B></TD><TD><B>Submission of Matters to a Vote of Security Holders.</B></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">On August 17, 2021, holders of 55.64% of the
outstanding common stock of Equus Total Return, Inc. (the &ldquo;Company&rdquo;) authorized the Company&rsquo;s Board of Directors
(&ldquo;Board&rdquo;) to cause the Company&rsquo;s withdrawal of its election to be classified as a business development company
under the Investment Company Act of 1940, but in no event later than January 31, 2022. Such action will become effective twenty
days after mailing of a definitive information statement to shareholders of the Company in accordance with the requirements of
the Securities Exchange Act of 1934.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 8.01</B></TD><TD><B>Other Events.</B></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">On August 20, 2021, the Company issued a press
release announcing the authorization given to the Board by the shareholders as described in Item 5.07 above. The text of the press
release is included as Exhibit 99.1 to this Current Report and is incorporated herein by reference.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 9.01</B></TD><TD><B>Financial Statements and Exhibits.</B></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>(d) Exhibits.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><A HREF="ex991_pressrelease.htm">99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Press release issued on August 20, 2021 by Equus Total Return, Inc.</A></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U>SIGNATURES</U></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="width: 29%; padding-right: -45pt; padding-left: 5.4pt"></TD>
    <TD STYLE="width: 30%; padding-right: -45pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 41%; padding-right: -45pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">Equus Total Return, Inc.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: -45pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: -45pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: -45pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: -45pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">Date:&nbsp;&nbsp;August 20,
    2021</FONT></TD>
    <TD STYLE="padding-right: -45pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: -45pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">By:&nbsp;&nbsp;<U>/s/ Kenneth I. Denos</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: -45pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: -45pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: -45pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">Name:&nbsp;&nbsp;Kenneth I. Denos</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: -45pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: -45pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: -45pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">Title:&nbsp;&nbsp;Secretary</FONT></TD></TR></TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex991_pressrelease.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 420pt"><A HREF="f8k_equus08202021.htm">EXHIBIT 99.1</A></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 43px; width: 118px"></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EQUUS SHAREHOLDERS GRANT AUTHORIZATION</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>TO WITHDRAW BDC ELECTION</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Authorization Supports Company&rsquo;s Intent</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>to Effect a Transformative Transaction</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>HOUSTON, TX &ndash; August 20, 2021 &ndash; </B>Equus Total Return,
Inc. (NYSE: EQS) (&ldquo;Equus&rdquo; or the &ldquo;Company&rdquo;) today announced that shareholders, collectively holding 7,511,448
shares (55.64% of the Company&rsquo;s issued and outstanding common stock), have authorized the Company&rsquo;s Board of Directors
(hereinafter, the &ldquo;Board&rdquo;) to cause the Company&rsquo;s withdrawal of its election to be classifed as a business development
company (&ldquo;BDC&rdquo;) under the Investment Company Act of 1940 (the &ldquo;1940 Act&rdquo;) as part of a potential strategic
transformation of Equus into an operating company. In connection with this authorization, the Company has filed an Information
Statement on Schedule 14C, dated August 18, 2021.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">The Company has examined a number of potential transactions in a
variety of sectors, including energy, natural resources, containers and packaging, real estate, media, technology, and telecommunications.
These reviews have included consideration of potential strategic transactions to maximize value to shareholders as an operating
company not subject to the 1940 Act. The authorization granted by the Company&rsquo;s shareholders allows the Board to withdraw
the Company&rsquo;s BDC authorization on or prior to January 31, 2022 as part of a potential strategic transformation of Equus
into an operating company. Although Equus has been authorized to withdraw and terminate the Company&rsquo;s BDC election under
the 1940 Act, it will not submit any such withdrawal unless and until Equus has entered into a definitive agreement to acquire
an operating company.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>Risks and Uncertainties</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">The outbreak of Covid-19 in the United States in February 2020 and
the subsequent resurgence of the Delta variant in 2021 has presented a number of challenges to achieving the Company&rsquo;s operational
and strategic objectives. Government travel bans, border closures and directives on social distancing and shelter-in-place mandates
have made it difficult to conduct in-person due diligence examinations, negotiations, and other functions which are endemic to
the interpersonal nature of the mergers and acquisitions process. The Company cannot give assurance that its endeavors to pursue
a transformative transaction will not be adversely affected should these disruptions and restrictions on travel continue throughout
2021 and into 2022.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">The transformation of Equus into an operating company is subject
to various conditions, risks, and uncertainties. Such risks should be considered in addition to the items identified as &ldquo;Risk
Factors&rdquo; in the Company&rsquo;s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission
(the &ldquo;SEC&rdquo;) on March 31, 2021.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>Potential Advantages</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">An operating company structure, in lieu of a closed-end fund structure,
could be advantageous to Equus and its shareholders in various ways, including: (i) a greater number of growth opportunities through
merger with and acquisition of other operating companies, (ii) a valuation of Equus based on typical operating criteria such as
earnings, revenue, and gross profit, instead of net asset value, (iii) lower proportional compliance costs due to Equus not being
regulated under the 1940 Act, and (iv) greater flexibility to issue common and preferred equity, as well as other types of securities
as consideration for acquisitions and growth of the Company.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Even if the Company utilizes its shares to acquire investment assets
and remains a BDC, the Company believes that it could gain cost efficiencies in managing a greater number of assets such that Company
expenses as a percentage of assets under management would decrease. In recent years, Company management has made significant efforts
to decrease overall costs and costs relative to its net asset value including, for example, reductions in staff and in the number
of members of the Company&rsquo;s Board.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>Forward-Looking Statements</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">This press release contains certain forward-looking statements regarding
possible future circumstances. These forward-looking statements are based upon the Company&rsquo;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 performance of the Company, including our ability to achieve our
expected financial and business objectives, our ability to execute our reorganization under the Plan and complete the transactions
contemplated thereby, the other risks and uncertainties described herein, as well as those contained in the Company&rsquo;s filings
with the SEC. 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 Company 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 Company or any
other person that the events or circumstances described in such statements are material.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>Contacts:</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Patricia Baronowski<BR>
Pristine Advisers, LLC<BR>
(631) 756-2486</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>image_001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_001.jpg
M_]C_X  02D9)1@ ! @$ 8 !@  #_[0H(4&AO=&]S:&]P(#,N,  X0DE- ^T
M     !  8     $  0!@     0 !.$))300-       $    'CA"24T$&0
M    !    !XX0DE- _,       D           $ .$))300*       !   X
M0DE-)Q        H  0         ".$))30/U      !( "]F9@ ! &QF9@ &
M       ! "]F9@ ! *&9F@ &       ! #(    ! %H    &       ! #4
M   ! "T    &       !.$))30/X      !P  #_____________________
M________ ^@     _____________________________P/H     /______
M______________________\#Z     #_____________________________
M ^@  #A"24T$"       $     $   )    "0      X0DE-!!X       0
M    .$))300:      !M    !@              *P   '8    & &< ,0 P
M '0 .0 Q     0                         !              !V
M*P                                             X0DE-!!$
M  $! #A"24T$%       !     (X0DE-! P     !VL    !    <    "D
M  %0   UT   !T\ &  !_]C_X  02D9)1@ ! @$ 2 !(  #_[@ .061O8F4
M9(     !_]L A  ," @("0@,"0D,$0L*"Q$5#PP,#Q48$Q,5$Q,8$0P,# P,
M#!$,# P,# P,# P,# P,# P,# P,# P,# P,# P, 0T+"PT.#1 .#A 4#@X.
M%!0.#@X.%!$,# P,#!$1# P,# P,$0P,# P,# P,# P,# P,# P,# P,# P,
M# P,# S_P  1"  I ' # 2(  A$! Q$!_]T !  '_\0!/P   04! 0$! 0$
M         P ! @0%!@<("0H+ 0 !!0$! 0$! 0         !  (#! 4&!P@)
M"@L0  $$ 0,"! (%!P8(!0,,,P$  A$#!"$2,05!46$3(G&!,@84D:&Q0B,D
M%5+!8C,T<H+10P<EDE/PX?%C<S46HK*#)D235&1%PJ-T-A?25>)E\K.$P]-U
MX_-&)Y2DA;25Q-3D]*6UQ=7E]59F=H:6IK;&UN;V-T=79W>'EZ>WQ]?G]Q$
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M300A      !5     0$    / $$ 9 !O &( 90 @ %  : !O '0 ;P!S &@
M;P!P    $P!! &0 ;P!B &4 ( !0 &@ ;P!T &\ <P!H &\ <  @ #8 +@ P
M     0 X0DE-! 8       < "  !  $! /_N  Y!9&]B90!D0     '_VP"$
M  $! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$"
M @(" @(" @(" @,# P,# P,# P,! 0$! 0$! 0$! 0(" 0(" P,# P,# P,#
M P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# __  !$(
M "L =@,!$0 "$0$#$0'_W0 $  __Q "-   " @,! 0$            &!P (
M!0D* P($ 0 # 0$                  0(#!!    8! @0$ 0H$!P
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M.P!H5_(K4S*&16'N6F$:UB96IP;M=H@FU2F%K*DR2.FB4$TE';5HQE%E5.
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(@": )H __]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
