Rand Capital Corporation
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- Rand Capital Corporation (Nasdaq: RAND), an externally managed business development company, focuses on maximizing total return to shareholders through current income and capital appreciation via debt and related equity investments in privately-held lower middle market companies across diverse industries including professional and business services, manufacturing, consumer products, software, distribution, automotive, healthcare, and technology; it targets businesses with sustainable, differentiated, market-proven products, revenues exceeding $10 million, and EBITDA over $1.5 million, providing subordinated debt with warrants, preferred equity, venture capital, term loans at rates around 14% plus payment-in-kind interest, and equity co-investments typically ranging from $0.75 million to $5 million. Founded in 1969 and headquartered in Buffalo, New York, the company operates primarily in the East and Midwest United States, with investment activities managed by its external adviser Rand Capital Management, LLC; its portfolio as of September 30, 2025, comprises 19 companies with a fair value of $44.3 million, approximately 83% in debt yielding a weighted average of 12.2% annualized including PIK interest, and 17% in equity. Recent developments include the August 2024 sale of portfolio company SciAps, Inc. to Spectris plc, generating $13.1 million in proceeds comprising $2.1 million debt repayment, $165,000 interest and fees, and $10.8 million equity return exceeding its carried value and supporting a strategic shift to debt-focused investments; in third quarter 2025, it received $8.3 million in loan repayments including $7.6 million from Seybert’s Billiards Corporation, funded $2.9 million in new and follow-on deals such as a $2.5 million investment in BlackJet Direct Marketing, LLC and $400,000 additional debt to BMP Food Service Supply Holdco, LLC, recognized a $2.9 million realized loss on Tilson Technology Management, Inc. exit, ended with $28 million liquidity and no debt outstanding under its $25 million credit facility, and paid a $0.29 per share quarterly dividend.
Rand Capital (RAND) Q1 2026 Earnings Call Prepared Remarks Transcript
Rand Capital Reports First Quarter Fiscal Year 2026 Results
Rand Capital Announces $0.29 per Share Cash Dividend for Second Quarter 2026
Rand Capital Announces First Quarter Fiscal Year 2026 Financial Results Conference Call and Webcast
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Rand Capital (RAND) Q4 2025 Earnings Call Prepared Remarks Transcript
Rand Capital Reports Fourth Quarter and Full Year 2025 Results
Rand Capital Announces $0.29 per Share Cash Dividend for First Quarter 2026
Rand Capital Announces Fourth Quarter and Full Year 2025 Financial Results Conference Call and Webcast
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Rand Capital (NASDAQ:RAND) Stock Price Passes Above 200-Day Moving Average – Time to Sell?
Rand Capital Declares Total Fourth Quarter Cash Dividend of $0.85 per Share for Fourth Quarter 2025
Rand Capital (RAND) Q3 2025 Earnings Call Transcript
Rand Capital Reports Third Quarter 2025 Results
Rand Capital Corporation (NASDAQ:RAND) Short Interest Up 180.0% in October
Rand Capital Announces Third Quarter 2025 Financial Results Conference Call and Webcast