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
4 - RAND CAPITAL CORP (0000081955) (Issuer)
4 - RAND CAPITAL CORP (0000081955) (Issuer)
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Total investment income was $2.0 million, a 3% decrease from the prior-year period, primarily due to the repayment of three debt instruments, partially offset by higher fee income Total expenses declined 36% year-over-year, reflecting lower interest expense from reduced debt levels and a capital gains incentive fee adjustment Net investment income grew 45% to $1.2 million, or $0.42 per share Net asset value per share ("NAV") was $21.99 compared with $25.31 at year-end 2024; reflecting the issuance of additional shares as part of the 2024 fourth quarter dividend Repaid revolver debt during the quarter; ended the first quarter of 2025 with over $22 million in available credit capacit
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 June 13, 2025, to shareholders of record as of May 30, 2025. Rand has approximately 3 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 reviews
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 first quarter 2025 financial results before the opening of financial markets on Monday, May 5, 2025. The Company will also host a conference call and webcast to review its results that day. First Quarter 2025 Conference Call Monday, May 5, 2025 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 Monday, May 19, 2025. To listen to the archived call, dial (412) 317-6671 and enter rep
Total investment income rose 11% to $2.1 million for the fourth quarter and was up 17% to $8.6 million for full year 2024, driven by growth in interest income from an expanded debt investment portfolio Debt investments now represent 75% of Rand's portfolio, up from 64% at the end of 2023, contributing to improved yields and net interest income Net asset value per share ("NAV") grew 7% year-over-year to $25.31 Outstanding bank debt reduced by $15.7 million year-over-year, with over $24 million in remaining availability at December 31, 2024 Rand raised its regular quarterly cash dividend by 16% in 2024 while increasing total dividends to $5.03 per share, including the stock and cash
Reflects 15% increase in aggregate dividend amount distributed following recent stock issuance 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 March 28, 2025, to shareholders of record as of March 14, 2025. Rand has approximately 3.0 million shares outstanding. Daniel P. Penberthy, President and CEO, commented, "In 2024, we reached several significant milestones that strengthened our ability to return capital to shareholders.
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 fourth quarter and full year 2024 financial results before the opening of financial markets on Monday, March 10, 2025. The Company will also host a conference call and webcast to review its results that day. Fourth Quarter and Full Year 2024 Conference Call Monday, March 10, 2025 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 Monday, March 24, 2025. To listen to the archived
Rand Capital Corporation (NASDAQ:RAND) ("Rand" or the "Company"), a business development company providing alternative financing for lower middle market companies, announced today the results of shareholder elections for the fourth quarter 2024 dividend of $4.20 per share, or approximately $10.8 million in the aggregate, declared on December 5, 2024. The total amount of the dividend to be paid in cash is limited to 20% of the aggregate amount, or approximately $2.2 million, excluding any cash paid for fractional shares. The remaining approximately $8.7 million will be paid in shares of Rand's common stock using the volume-weighted average price for Rand's common stock for the three tradin
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 dividend of $4.20 per share, or approximately $10.8 million in the aggregate, to be paid in a combination of cash and shares of the Company's common stock to shareholders of record as of December 16, 2024 (the "Record Date"). Daniel P. Penberthy, President and CEO, commented, "In 2024, we successfully executed strategic portfolio exits and achieved what we believe are meaningful gains, even while navigating a challenging economic environment. In the third quarter,
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)
Total investment income was $2.0 million, a 3% decrease from the prior-year period, primarily due to the repayment of three debt instruments, partially offset by higher fee income Total expenses declined 36% year-over-year, reflecting lower interest expense from reduced debt levels and a capital gains incentive fee adjustment Net investment income grew 45% to $1.2 million, or $0.42 per share Net asset value per share ("NAV") was $21.99 compared with $25.31 at year-end 2024; reflecting the issuance of additional shares as part of the 2024 fourth quarter dividend Repaid revolver debt during the quarter; ended the first quarter of 2025 with over $22 million in available credit capacit
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 June 13, 2025, to shareholders of record as of May 30, 2025. Rand has approximately 3 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 reviews
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 first quarter 2025 financial results before the opening of financial markets on Monday, May 5, 2025. The Company will also host a conference call and webcast to review its results that day. First Quarter 2025 Conference Call Monday, May 5, 2025 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 Monday, May 19, 2025. To listen to the archived call, dial (412) 317-6671 and enter rep
Total investment income rose 11% to $2.1 million for the fourth quarter and was up 17% to $8.6 million for full year 2024, driven by growth in interest income from an expanded debt investment portfolio Debt investments now represent 75% of Rand's portfolio, up from 64% at the end of 2023, contributing to improved yields and net interest income Net asset value per share ("NAV") grew 7% year-over-year to $25.31 Outstanding bank debt reduced by $15.7 million year-over-year, with over $24 million in remaining availability at December 31, 2024 Rand raised its regular quarterly cash dividend by 16% in 2024 while increasing total dividends to $5.03 per share, including the stock and cash
Reflects 15% increase in aggregate dividend amount distributed following recent stock issuance 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 March 28, 2025, to shareholders of record as of March 14, 2025. Rand has approximately 3.0 million shares outstanding. Daniel P. Penberthy, President and CEO, commented, "In 2024, we reached several significant milestones that strengthened our ability to return capital to shareholders.
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 fourth quarter and full year 2024 financial results before the opening of financial markets on Monday, March 10, 2025. The Company will also host a conference call and webcast to review its results that day. Fourth Quarter and Full Year 2024 Conference Call Monday, March 10, 2025 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 Monday, March 24, 2025. To listen to the archived
Rand Capital Corporation (NASDAQ:RAND) ("Rand" or the "Company"), a business development company providing alternative financing for lower middle market companies, announced today the results of shareholder elections for the fourth quarter 2024 dividend of $4.20 per share, or approximately $10.8 million in the aggregate, declared on December 5, 2024. The total amount of the dividend to be paid in cash is limited to 20% of the aggregate amount, or approximately $2.2 million, excluding any cash paid for fractional shares. The remaining approximately $8.7 million will be paid in shares of Rand's common stock using the volume-weighted average price for Rand's common stock for the three tradin
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 dividend of $4.20 per share, or approximately $10.8 million in the aggregate, to be paid in a combination of cash and shares of the Company's common stock to shareholders of record as of December 16, 2024 (the "Record Date"). Daniel P. Penberthy, President and CEO, commented, "In 2024, we successfully executed strategic portfolio exits and achieved what we believe are meaningful gains, even while navigating a challenging economic environment. In the third quarter,
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
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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 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