Rand Capital's Portfolio Company SciAps To be Acquired By Spectris plc For Consideration Of Up To $260M; Rand Holds ~6% Of The Equity Of SciAps

SciAps has been in the Rand portfolio for nearly eleven years during which time Rand provided an initial equity investment, several follow-on equity investments and most recently invested $2.1 million in August 2021 as a secured note.

Rand holds approximately 6% of the equity of SciAps with a cost basis of $3.1 million. Total cost of the investment was $5.2 million including the recent debt instrument. The portfolio company represented 8.5% of Rand's net asset value as of March 31, 2024.