Filing Analysis
Rand Capital Corporation has filed an 8-K to announce its second quarter earnings results for the period ended June 30, 2026. The filing serves as a formal notice that financial results and updated investor presentation materials have been released.
📋 Key Facts
- Report date: August 5, 2026
- Reporting Period: Second Quarter ended June 30, 2026
- The company issued a press release (Exhibit 99.1) regarding results of operations and financial condition.
- Updated earnings conference call slide presentation is available on the company's website.
Rand Capital Corporation announced its financial results for the first quarter ended March 31, 2026, and updated its earnings conference call presentation.
📋 Key Facts
- Announced Q1 2026 results on May 6, 2026.
- Furnished press release as Exhibit 99.1.
- Updated earnings conference call slide presentation available on the company's website.
- The reporting period ended March 31, 2026.
Rand Capital Corporation reported the results of its 2026 Annual Meeting of Shareholders held on April 22, 2026. Shareholders re-elected five directors and ratified the appointment of WithumSmith+Brown, PC as the independent accounting firm for the fiscal year ending December 31, 2026.
📋 Key Facts
- Annual Meeting of Shareholders held on April 22, 2026.
- Five directors re-elected: Benjamin E. Godley, Adam S. Gusky, Cari L. Jaroslawsky, Erland E. Kailbourne, and Robert M. Zak.
- Ratification of WithumSmith+Brown, PC as the independent registered public accounting firm for the year ending December 31, 2026.
- The auditor ratification received 2,382,171 'For' votes compared to 13,227 'Against' votes.
Rand Capital Corporation announced its financial results for the fourth quarter and full year ended December 31, 2025. The filing includes a press release and notice of an updated investor presentation for the earnings conference call.
📋 Key Facts
- Announced Q4 and full year 2025 results on March 5, 2026.
- Updated earnings conference call slide presentation available on the company website.
- Furnished press release as Exhibit 99.1.
- The company is listed on the Nasdaq Capital Market under the symbol RAND.
Rand Capital Corporation has filed an 8-K to announce its third quarter earnings results for the period ended September 30, 2025. The filing includes a press release and updated investor presentation materials.
📋 Key Facts
- Report date: November 7, 2025
- Reporting period: Third Quarter ended September 30, 2025
- The company issued a press release (Exhibit 99.1) regarding results of operations and financial condition.
- Updated earnings conference call slide presentation made available on the company website.
Rand Capital Corporation has replaced its independent registered public accounting firm, Freed Maxick, P.C., with Withum Smith+Brown, PC. The change is due to the acquisition of certain assets by Withum and does not involve any disagreements regarding accounting principles or auditing procedures.
🚩 Red Flags
- None identified. The change is described as a result of an M&A event involving the audit firm itself rather than a dispute with management.
📋 Key Facts
- Effective date of auditor change: September 11, 2025.
- Outgoing Auditor: Freed Maxick, P.C. (FM).
- Incoming Auditor: Withum Smith+Brown, PC (Withum).
- Reason for replacement: Acquisition of certain assets of FM by Withum.
- The company confirmed no disagreements with the previous auditor regarding accounting principles or financial disclosures.
- Audit reports for years ended Dec 31, 2023, and Dec 31, 2024, were unqualified/unmodified.
Rand Capital Corporation has filed an 8-K to announce its second quarter earnings results for the period ended June 30, 2025. The filing serves as a formal announcement of the release of financial results and updated investor presentation materials.
📋 Key Facts
- The company announced Q2 2025 results on August 4, 2025.
- Earnings conference call slide presentation has been updated and is available on the company's website.
- The filing includes Exhibit 99.1 containing the press release for the quarterly results.
Rand Capital Corporation reported that one of its significant holdings, Tilson Technology Management, Inc., has filed for Chapter 11 bankruptcy. This investment represents a substantial portion of the Company's net assets and total investments at fair value.
🚩 Red Flags
- Significant concentration risk: A single investment represents over 15% of total investments at fair value.
- Potential for significant impairment: The company is currently evaluating the impact of the Chapter 11 proceedings on its $9.5M fair value position.
📋 Key Facts
- Tilson Technology Management, Inc. and subsidiaries (Tilson Middle Street Holding, LLC and Boundless Broadband, LLC) filed voluntary Chapter 11 bankruptcy on May 29, 2025.
- Rand Capital holds multiple classes of Tilson Preferred Stock (Series B, C, D, E, and F).
- As of March 31, 2025, the investment in Tilson had a cost basis of $2,850,015 and a fair value of $9,500,000.
- The Tilson investment represents ~14.6% of Company net assets and ~15.3% of total investments at fair value as of March 31, 2025.
- Company also holds SQF Units (cost $250k, fair value $2M), which are not part of the bankruptcy filing.
Rand Capital Corporation has filed an 8-K to announce its quarterly earnings results for the first quarter ended March 31, 2025. The filing includes a press release and updated investor presentation materials.
📋 Key Facts
- Report date: May 5, 2025
- Reporting period: First Quarter ended March 31, 2025
- The company issued a press release regarding results of operations (Exhibit 99.1)
- Updated earnings conference call slide presentation made available on the company website
Rand Capital Corporation held its 2025 Annual Meeting of Shareholders on April 23, 2025. The filing reports the results of shareholder votes regarding the election of directors and the ratification of the independent auditor.
📋 Key Facts
- The 2025 Annual Meeting was held on April 23, 2025.
- All five nominees—Benjamin E. Godley, Adam S. Gusky, Cari L. Jaroslawsky, Erland E. Kailbourne, and Robert M. Zak—were re-elected to the Board of Directors.
- Shareholders ratified the appointment of Freed Maxick, P.C. as the independent registered public accounting firm for the fiscal year ending December 31, 2025.
- The company's proxy statement was filed on March 14, 2025.
Rand Capital Corporation has filed an 8-K to furnish investor presentation slides intended for analysts and investors, effective March 18, 2025.
📋 Key Facts
- The company is furnishing investor presentation slides (Exhibit 99.1) used for analyst/investor meetings starting March 18, 2025.
- Information in the presentation is not deemed 'filed' under Section 18 of the Exchange Act.
- Slides are made available on the company's website under the 'Investors' section.
Rand Capital Corporation has filed an 8-K to announce its earnings results for the fourth quarter and full year ended December 31, 2024. The filing includes a press release of these results and updates to investor presentation materials.
📋 Key Facts
- Report date: March 10, 2025
- Reporting period: Fourth quarter and fiscal year ended December 31, 2024
- The company issued a press release (Exhibit 99.1) regarding its financial results
- Updated earnings conference call slide presentation made available on the company website
Rand Capital Corporation announced the results of shareholder elections regarding a dividend previously declared on December 5, 2024. Shareholders were given the option to receive dividends in either cash or common stock.
📋 Key Facts
- Dividend was originally announced on December 5, 2024.
- Shareholders have elected between receiving cash or shares of common stock.
- The dividend is scheduled to be payable on January 24, 2025.
Rand Capital Corporation has issued a shareholder notice and election form regarding the dividend previously announced on December 5, 2024. This filing is for regulatory compliance under Regulation FD to distribute election forms to shareholders of record.
📋 Key Facts
- Shareholders of record as of December 16, 2024, will receive a notice regarding dividend elections.
- The dividend was previously announced on December 5, 2024.
- The dividend is scheduled to be payable on January 24, 2025.
- The filing includes a Shareholder Notice (Exhibit 99.1) and a Dividend Election Form (Exhibit 99.2).
Rand Capital Corporation has declared a dividend of $4.20 per share, payable on January 24, 2025. The distribution will be paid in cash or common stock based on shareholder election, subject to a 20% cap on total cash distributions.
🚩 Red Flags
- The 80% cap on cash distribution (meaning 80% must be paid in shares) indicates a desire to preserve liquidity, which can lead to share dilution for shareholders electing cash.
📋 Key Facts
- Dividend amount: $4.20 per share.
- Record date: December 16, 2024.
- Payment date: January 24, 2025.
- Distribution method: Cash or common stock at shareholder election.
- Cash Limitation: Total cash distributed is capped at 20% of the aggregate dividend amount.
Rand Capital Corporation has filed an 8-K to announce its second quarter earnings results for the period ended June 30, 2024. The filing serves as a formal notice that financial results and updated investor presentations are being released.
📋 Key Facts
- Report date: August 6, 2024
- Reporting Period: Second Quarter ended June 30, 2024
- The company issued a press release (Exhibit 99.1) containing the quarterly results.
- Updated earnings conference call slide presentation is available on the company website.
Rand Capital Corporation issued an 8-K to announce its quarterly earnings results for the first quarter ended March 31, 2024. The filing serves as a formal notice that financial results have been released via press release and updated investor presentations.
📋 Key Facts
- Report date: May 13, 2024
- Reporting period: First quarter ended March 31, 2024
- The company issued a press release (Exhibit 99.1) containing results of operations and financial condition.
- Updated earnings conference call slide presentation made available on the company website.
Rand Capital Corporation held its 2024 Annual Meeting of Shareholders on May 7, 2024. The meeting resulted in the re-election of all five director nominees and the ratification of Freed Maxick CPAs, P.C. as the independent registered public accounting firm.
📋 Key Facts
- Annual Meeting held on May 7, 2024.
- All five directors (Benjamin E. Godley, Adam S. Gusky, Cari L. Jaroslawsky, Erland E. Kailbourne, and Robert M. Zak) were re-elected.
- Freed Maxick CPAs, P.C. was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2024.
- The company filed its proxy statement on April 1, 2024.
Rand Capital Corporation issued an 8-K to announce its earnings results for the fourth quarter and fiscal year ended December 31, 2023. The filing serves as a formal announcement of the release of financial performance data.
📋 Key Facts
- Report date: March 5, 2024
- Reporting period: Fourth quarter and fiscal year ended December 31, 2023
- The company issued a press release (Exhibit 99.1) containing the results of operations.
- Updated earnings conference call slide presentation made available on the company website.
Rand Capital Corporation announced that its Board of Directors has approved an application to adopt modified asset coverage requirements for senior securities. This change, permitted under the Small Business Credit Availability Act, will reduce the required minimum asset coverage ratio from 200% to 150%, effective January 24, 2025.
📋 Key Facts
- Board approval was granted on January 24, 2024.
- The change reduces the required minimum asset coverage ratio for senior securities from 200% to 150%.
- The modification is permitted under Section 61(a)(2) of the Investment Company Act of 1940 (as amended by the Consolidated Appropriations Act of 2018).
- The new requirement becomes effective on January 24, 2025.