Rand Capital Corporation is a business development company and regulated investment company specializing in private equity investments. The firm prefers to make investments through equity or debt instruments in lower middle market and in small to medium-sized privately held companies. It generally lends to more mature companies. The firm does not prefer to invest in real estate sector. It invests in companies that are engaged in the exploitation of new or unique products, technologies, or services. The firm invests in healthcare, consumer products, manufacturing, software, and professional services. It seeks to invest in companies based in the Western and Upstate New York region and its surrounding states with focus on Buffalo and Niagara region. The firm may invest in region within three to five hour drives from Western New York including Canada. It typically invests between $0.5 million and $1.5 million and the total investment in rounds is between $1 million and $5 million. The firm seeks to invest up to maximum of $3 million total per company as part of follow-on investments. It invest in startups and companies having annual revenue up to $10 million. It invest companies having EBITDA up to $5 million. The firm Follow-on investment(s) up to a targeted maximum of $2 million to $3 million total per company. The firm frequently participate three investment round. The firm seeks to be a lead investor in companies within its geographical area and participates in syndicate/co-invest with other investors outside it. It prefers to invest in businesses that are unique or possess proprietary right. The firm prefers to be a minority investor and seeks to take a Board seat in its portfolio companies. It typically holds its investments for a period of five to seven years. Rand Capital Corporation was founded in 1969 and is based in Buffalo, New York.
IPO Year:
Exchange: NASDAQ
Website: randcapital.com
Rand Capital Corporation (NASDAQ:RAND) ("Rand" or the "Company"), a business development company providing alternative financing for lower middle market companies, announced today that SciAps, Inc., a portfolio company in which Rand has an equity and debt investment, is to be acquired by Spectris plc (LSE: SXS) for consideration of up to $260 million comprised of up-front consideration of $200 million plus a deferred element of up to $60 million payable subject to SciAps attaining certain financial metrics. The transaction is subject to customary closing conditions and regulatory approvals, with completion expected to take place later this year. Daniel P. Penberthy, President and CEO of R
Allen F. "Pete" Grum to retire as President and CEO and become Vice Chair of Board of Directors Daniel P. Penberthy appointed President and CEO effective December 1, 2021 Margaret Brechtel promoted to Executive Vice President and CFO Robert M. Zak appointed Chair of the Board Rand Capital Corporation (NASDAQ:RAND) ("Rand" or the "Company"), a business development company, announced today that Allen F. "Pete" Grum, President and Chief Executive Officer of Rand, intends to retire effective December 1, 2021. Mr. Grum will remain as a member of the Board of Directors of the Company and has been appointed Vice Chair of the Board of Directors of the Company effective December 1, 2021. As
Total investment income rose 27% to $2.2 million for the quarter compared with the third quarter last year, driven by strong growth in interest income from an expanded portfolio of debt investments Net asset value per share ("NAV") increased to $27.29, up 3% from June 30, 2024 and 16% higher than year-end 2023 $13.1 million received from the sale of portfolio company SciAps, Inc. with proceeds used to reduce debt balance Paid a quarterly dividend of $0.29 per share for third quarter 2024 Rand Capital Corporation (NASDAQ:RAND) ("Rand" or the "Company"), a business development company providing alternative financing for lower middle market companies, announced its results for the thi
Rand Capital Corporation (NASDAQ:RAND) ("Rand" or the "Company"), a business development company providing alternative financing for lower middle market companies, announced that it plans to release its third quarter 2024 financial results before the opening of financial markets on Wednesday, November 6, 2024. The Company will also host a conference call and webcast to review its results that day. Third Quarter 2024 Conference Call Wednesday, November 6, 2024 1:30 p.m. Eastern Time Phone: (201) 689-8263 Webcast: ir.randcapital.com A telephonic replay will be available from 5:30 p.m. ET on the day of the call through Wednesday, November 20, 2024. To listen to the archived call, dial (412)
Rand Capital Corporation (NASDAQ:RAND) ("Rand" or the "Company"), a business development company providing alternative financing for lower middle market companies, today announced the successful completion of the previously reported acquisition of its portfolio company, SciAps, Inc., by Spectris plc (LSE: SXS). The transaction closed on August 21, 2024, and yielded total proceeds for Rand at the closing of $13.1 million, exceeding the June 30, 2024 valuation for Rand's equity and debt investments in SciAps of $10.8 million. The proceeds from the sale payable at closing to Rand consisted of $2.1 million in debt repayment, $165,000 in interest income and loan-related fees, and $10.8 million
Total investment income increased 18% to $2.1 million for the quarter compared with the second quarter last year driven by strong growth in interest income from an expanded portfolio of debt investments Net asset value per share ("NAV") was $26.56 at June 30, 2024, up 11% from March 31, 2024 and up 13% from year-end 2023 Capitalized on market conditions with the sale of certain BDC holdings that resulted in a realized gain of $1.3 million Reduced debt balance $2.0 million during the quarter and repaid an additional $2.3 million subsequent to quarter-end Portfolio company SciAps expected to be acquired in 2024 after definitive purchase agreement signed Announced a quarterly d
Rand Capital Corporation (NASDAQ:RAND) ("Rand" or the "Company"), a business development company providing alternative financing for lower middle market companies, announced today that its Board of Directors declared a quarterly cash dividend of $0.29 per share. The cash dividend will be distributed on or about September 13, 2024, to shareholders of record as of August 30, 2024. Rand has approximately 2.6 million shares outstanding. Additional Information Regarding Dividend Distributions The amount and timing of dividend distributions, including future dividend distributions, are subject to the discretion of Rand's Board of Directors. When declaring distributions, Rand's Board of Direct
Rand Capital Corporation (NASDAQ:RAND) ("Rand" or the "Company"), a business development company providing alternative financing for lower middle market companies, announced that it plans to release its second quarter 2024 financial results before the opening of financial markets on Tuesday, August 6, 2024. The Company will also host a conference call and webcast to review its results that day. Second Quarter 2024 Conference Call Tuesday, August 6, 2024 1:30 p.m. Eastern Time Phone: (201) 689-8263 Webcast: ir.randcapital.com A telephonic replay will be available from 5:30 p.m. ET on the day of the call through Tuesday, August 20, 2024. To listen to the archived call, dial (412) 317-6671
Rand Capital Corporation (NASDAQ:RAND) ("Rand" or the "Company"), a business development company providing alternative financing for lower middle market companies, announced today that SciAps, Inc., a portfolio company in which Rand has an equity and debt investment, is to be acquired by Spectris plc (LSE: SXS) for consideration of up to $260 million comprised of up-front consideration of $200 million plus a deferred element of up to $60 million payable subject to SciAps attaining certain financial metrics. The transaction is subject to customary closing conditions and regulatory approvals, with completion expected to take place later this year. Daniel P. Penberthy, President and CEO of R
Strategy focused on expanding portfolio composition with new debt investments drives total investment income growth of 12% to $2.1 million for the first quarter of 2024 Investment portfolio comprised of 70% interest yielding debt instruments at quarter-end compared with 64% at the end of 2023, improving portfolio yield and net interest income Net asset value per share ("NAV") was $23.85 at March 31, 2024, up 1% from year-end 2023 Sold remaining ACV Auctions stock, netting a realized gain of $3.5 million Invested $10.8 million in new and follow on investments during the first quarter Increased regular quarterly dividend 16% to $0.29 per share for second quarter 2024 Rand C
Rand Capital Corporation (NASDAQ:RAND) ("Rand" or the "Company"), a business development company providing alternative financing for lower middle market companies, announced today that its Board of Directors declared a quarterly cash dividend of $0.29 per share, which increased $0.04 per share, or 16%, from the dividend paid in the first quarter of 2024. The dividend will be distributed on or about June 14, 2024, to shareholders of record as of May 31, 2024. Rand has approximately 2.6 million shares outstanding. "This increase in our dividend underscores the strength and stability of our business operations, as well as our confidence in the future prospects of the Company," commented Dani
Rand Capital Corporation (NASDAQ:RAND) ("Rand" or the "Company"), a business development company providing alternative financing for lower middle market companies, announced that it will release its first quarter 2024 financial results before the opening of financial markets on Monday, May 13, 2024. The Company will also host a conference call and webcast to review its results that day. First Quarter 2024 Conference Call Monday, May 13, 2024 1:30 p.m. Eastern Time Phone: (201) 689-8263 Webcast: https://ir.randcapital.com/ A telephonic replay will be available from 5:30 p.m. ET on the day of the call through Monday, May 27, 2024. To listen to the archived call, dial (412) 317-6671 and
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Rand Capital Corporation (NASDAQ:RAND) ("Rand" or the "Company"), a business development company providing alternative financing for lower middle market companies, announced that it plans to release its third quarter 2024 financial results before the opening of financial markets on Wednesday, November 6, 2024. The Company will also host a conference call and webcast to review its results that day. Third Quarter 2024 Conference Call Wednesday, November 6, 2024 1:30 p.m. Eastern Time Phone: (201) 689-8263 Webcast: ir.randcapital.com A telephonic replay will be available from 5:30 p.m. ET on the day of the call through Wednesday, November 20, 2024. To listen to the archived call, dial (412)
Total investment income increased 18% to $2.1 million for the quarter compared with the second quarter last year driven by strong growth in interest income from an expanded portfolio of debt investments Net asset value per share ("NAV") was $26.56 at June 30, 2024, up 11% from March 31, 2024 and up 13% from year-end 2023 Capitalized on market conditions with the sale of certain BDC holdings that resulted in a realized gain of $1.3 million Reduced debt balance $2.0 million during the quarter and repaid an additional $2.3 million subsequent to quarter-end Portfolio company SciAps expected to be acquired in 2024 after definitive purchase agreement signed Announced a quarterly d
Rand Capital Corporation (NASDAQ:RAND) ("Rand" or the "Company"), a business development company providing alternative financing for lower middle market companies, announced today that its Board of Directors declared a quarterly cash dividend of $0.29 per share. The cash dividend will be distributed on or about September 13, 2024, to shareholders of record as of August 30, 2024. Rand has approximately 2.6 million shares outstanding. Additional Information Regarding Dividend Distributions The amount and timing of dividend distributions, including future dividend distributions, are subject to the discretion of Rand's Board of Directors. When declaring distributions, Rand's Board of Direct
Rand Capital Corporation (NASDAQ:RAND) ("Rand" or the "Company"), a business development company providing alternative financing for lower middle market companies, announced that it plans to release its second quarter 2024 financial results before the opening of financial markets on Tuesday, August 6, 2024. The Company will also host a conference call and webcast to review its results that day. Second Quarter 2024 Conference Call Tuesday, August 6, 2024 1:30 p.m. Eastern Time Phone: (201) 689-8263 Webcast: ir.randcapital.com A telephonic replay will be available from 5:30 p.m. ET on the day of the call through Tuesday, August 20, 2024. To listen to the archived call, dial (412) 317-6671
Strategy focused on expanding portfolio composition with new debt investments drives total investment income growth of 12% to $2.1 million for the first quarter of 2024 Investment portfolio comprised of 70% interest yielding debt instruments at quarter-end compared with 64% at the end of 2023, improving portfolio yield and net interest income Net asset value per share ("NAV") was $23.85 at March 31, 2024, up 1% from year-end 2023 Sold remaining ACV Auctions stock, netting a realized gain of $3.5 million Invested $10.8 million in new and follow on investments during the first quarter Increased regular quarterly dividend 16% to $0.29 per share for second quarter 2024 Rand C
Rand Capital Corporation (NASDAQ:RAND) ("Rand" or the "Company"), a business development company providing alternative financing for lower middle market companies, announced today that its Board of Directors declared a quarterly cash dividend of $0.29 per share, which increased $0.04 per share, or 16%, from the dividend paid in the first quarter of 2024. The dividend will be distributed on or about June 14, 2024, to shareholders of record as of May 31, 2024. Rand has approximately 2.6 million shares outstanding. "This increase in our dividend underscores the strength and stability of our business operations, as well as our confidence in the future prospects of the Company," commented Dani
Rand Capital Corporation (NASDAQ:RAND) ("Rand" or the "Company"), a business development company providing alternative financing for lower middle market companies, announced that it will release its first quarter 2024 financial results before the opening of financial markets on Monday, May 13, 2024. The Company will also host a conference call and webcast to review its results that day. First Quarter 2024 Conference Call Monday, May 13, 2024 1:30 p.m. Eastern Time Phone: (201) 689-8263 Webcast: https://ir.randcapital.com/ A telephonic replay will be available from 5:30 p.m. ET on the day of the call through Monday, May 27, 2024. To listen to the archived call, dial (412) 317-6671 and
Portfolio expansion centered on debt investments drives total investment income growth of 11% to $1.9 million for the fourth quarter and 27% to $7.3 million for full year 2023 Rand's portfolio was comprised of 64% interest yielding debt instruments at year-end compared with 56% at the end of 2022, which improved the portfolio yield and net interest income Paid total dividends of $1.33 per share in 2023, up 60% from 2022 Net asset value per share ("NAV") was $23.56 at December 31, 2023, up 5% from year-end 2022 $2.3 million in follow on investments during the fourth quarter; Full year 2023 investments totaled $20.3 million Rand Capital Corporation (NASDAQ:RAND) ("Rand" or the
Rand Capital Corporation (NASDAQ:RAND) ("Rand" or the "Company"), a business development company providing alternative financing for lower middle market companies, announced today that its Board of Directors declared a quarterly cash dividend of $0.25 per share. The cash dividend will be distributed on or about March 29, 2024, to shareholders of record as of March 13, 2024. Rand has approximately 2.6 million shares outstanding. Additional Information Regarding Dividend Distributions The amount and timing of dividend distributions, including future dividend distributions, are subject to the discretion of Rand's Board of Directors. When declaring distributions, Rand's Board of Directors r
Rand Capital Corporation (NASDAQ:RAND) ("Rand" or the "Company"), a business development company providing alternative financing for lower middle market companies, announced that it will release its fourth quarter and full year 2023 financial results before the opening of financial markets on Tuesday, March 5, 2024. The Company will also host a conference call and webcast to review its results that day. Fourth Quarter and Full Year 2023 Conference Call Tuesday, March 5, 2024 1:30 p.m. Eastern Time Phone: (201) 689-8263 Webcast: https://ir.randcapital.com/ A telephonic replay will be available from 5:30 p.m. ET on the day of the call through Tuesday, March 19, 2024. To listen to the arch
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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.
Rand Capital (NASDAQ:RAND) reported quarterly earnings of $0.37 per share. This is a 5.13 percent decrease over earnings of $0.39 per share from the same period last year. The company reported $2.07 million in sales this quarter. This is a 11.67 percent increase over sales of $1.85 million the same period last year.
Rand Capital Corporation (NASDAQ:RAND) ("Rand" or the "Company"), a business development company providing alternative financing for lower middle market companies, announced today that its Board of Directors declared a quarterly cash dividend of $0.29 per share, which increased $0.04 per share, or 16%, from the dividend paid in the first quarter of 2024. The dividend will be distributed on or about June 14, 2024, to shareholders of record as of May 31, 2024. Rand has approximately 2.6 million shares outstanding."This increase in our dividend underscores the strength and stability of our business operations, as well as our confidence in the future prospects of the Company," commented Daniel P
Friday marks the last chance for investors to receive the next dividend payout from Rand Capital (NASDAQ:RAND). What's Happening The company announced on Tuesday that it would pay shareholders a quarterly dividend of 25 cents per share. On Monday, Rand Capital will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 25 cents lower than it would have opened on any other day. In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Monday. Shareholders who own RAND as of the end of Friday's session are eligible to receive the 25 cents dividend payout f
Rand Capital (NASDAQ:RAND) reported quarterly earnings of $0.40 per share. This is a 2.44 percent decrease over earnings of $0.41 per share from the same period last year. The company reported $1.93 million in sales this quarter. This is a 11.37 percent increase over sales of $1.73 million the same period last year.
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Total fourth quarter dividend consists of regular quarterly cash dividend of $0.25 per share and special cash dividend of $0.38 per shareTotal 2023 cash dividend distributions of $1.33 per share up 60% over 2022Rand Capital Corporation (NASDAQ:RAND) ("Rand"), a business development company providing alternative financing for lower middle market companies, announced today that its Board of Directors declared a total quarterly cash dividend of $0.63 per share comprised of a $0.25 per share regular quarterly cash dividend and a $0.38 per share special cash dividend. Each of the dividends will be distributed on or about December 29, 2023, to shareholders of record as of December 18, 2023. Rand h
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