Rand Capital Stock Price, News & Analysis

Rand Capital (NASDAQ: RAND) reported strong Q3 2024 results with total investment income increasing 27% to $2.2 million, driven by debt portfolio growth. Net asset value per share rose to $27.29, up 3% from June 30 and 16% from year-end 2023. The company received $13.1 million from the sale of SciAps, using proceeds to reduce debt. The portfolio, valued at $75.0 million across 22 businesses, is now 74% debt investments with a 13.8% weighted average yield. Rand paid a quarterly dividend of $0.29 per share and maintains strong liquidity with over $24 million available.

Rand Capital (Nasdaq: RAND), a business development company focused on lower middle market financing, has scheduled its Third Quarter 2024 financial results release for Wednesday, November 6, 2024, before market opening. The company will host a conference call and webcast at 1:30 p.m. Eastern Time on the same day to discuss the results. A replay will be available until November 20, 2024, via phone at (412) 317-6671 with PIN 13749407, and through the company's investor relations website.

Rand Capital (Nasdaq: RAND) has successfully completed the sale of its portfolio company, SciAps, Inc., to Spectris plc. The transaction, which closed on August 21, 2024, yielded total proceeds of $13.1 million for Rand, surpassing the June 30, 2024 valuation of $10.8 million for Rand's equity and debt investments in SciAps.

The proceeds include $2.1 million in debt repayment, $165,000 in interest income and loan-related fees, and $10.8 million in equity return. An additional $244,000 is held in transaction-related escrows. This successful exit from a 2013 investment showcases Rand's ability to generate substantial returns, with the equity investment having a cost basis of just $3.1 million.

Rand Capital (RAND) reported an 18% increase in total investment income to $2.1 million for Q2 2024, driven by a 35% rise in interest from portfolio companies. The company's net asset value (NAV) per share reached $26.56, up 11% from Q1 2024 and 13% from year-end 2023. Rand capitalized on market conditions, selling certain BDC holdings for a realized gain of $1.3 million. The company reduced its debt balance by $2.0 million during the quarter and an additional $2.3 million post-quarter.

Rand's portfolio included investments with a fair value of $87.1 million across 26 businesses, a 13% increase from December 31, 2023. The company declared a quarterly dividend of $0.29 per share for Q3 2024. Rand's strategy focuses on scaling through new investments and reinvesting in high-potential existing portfolio companies, aiming to strengthen its ability to increase cash dividends over the long term.

Rand Capital (Nasdaq: RAND), a business development company providing alternative financing for lower middle market companies, has announced a quarterly cash dividend of $0.29 per share. The 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.

The company's Board of Directors reviews estimates of taxable income available for distribution when declaring dividends. These estimates may differ from consolidated net income under GAAP due to changes in unrealized appreciation and depreciation, temporary and permanent differences in income and expense recognition, and spillover income from previous years. The final determination of taxable income and tax attributes for distributions will be made after the close of the tax year.

Rand Capital (Nasdaq: RAND), a business development company providing alternative financing for lower middle market companies, has announced its plans to release second quarter 2024 financial results. The results will be made public before the opening of financial markets on Tuesday, August 6, 2024. Following the release, the company will host a conference call and webcast to review the results on the same day at 1:30 p.m. Eastern Time.

Investors and interested parties can access the conference call by dialing (201) 689-8263. A webcast will also be available on the company's investor relations website. For those unable to attend the live event, a telephonic replay will be accessible from 5:30 p.m. ET on the day of the call until Tuesday, August 20, 2024. To access the replay, dial (412) 317-6671 and enter the PIN 13747031. Additionally, a webcast replay and transcript will be posted in the investors' section of Rand Capital's website.

Rand Capital (NASDAQ: RAND) announced that its portfolio company SciAps, Inc. is set to be acquired by Spectris plc for up to $260 million. The deal includes an upfront payment of $200 million and up to $60 million in deferred payments, pending certain financial metrics. Completion is expected later this year, subject to customary conditions and regulatory approvals.

Rand, which holds a 6% equity stake in SciAps, initially invested $3.1 million and has invested a total of $5.2 million, including recent debt financing. SciAps represents 8.5% of Rand's net asset value as of March 31, 2024. This acquisition marks a significant milestone for Rand, which has shifted focus to debt financing while maintaining strategic minority equity investments.

Rand Capital (Nasdaq: RAND) reported a 12% increase in total investment income for the first quarter of 2024, reaching $2.1 million. The company focused on expanding its investment portfolio with new debt investments, leading to improved net interest income. The net asset value per share stood at $23.85, up 1% from the previous year. Rand sold its remaining ACV Auctions stock, generating a realized gain of $3.5 million. Additionally, the company invested $10.8 million in new and follow-on investments and increased its quarterly dividend by 16% to $0.29 per share for the second quarter of 2024.

Rand Capital (Nasdaq: RAND) has increased its regular quarterly cash dividend by 16% to $0.29 per share for the second quarter of 2024. The dividend will be distributed on or about June 14, 2024, to shareholders of record as of May 31, 2024. With approximately 2.6 million shares outstanding, the Company's President and CEO, Daniel P. Penberthy, expressed confidence in the business operations and future prospects of Rand.