Here are the 10-K annual reports from Princeton Capital Corp (PIAC) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow PIAC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PIAC filings page.
Princeton Capital Corporation is an externally managed business development company focused on debt and related equity investments in private small and lower middle‑market U.S. companies. The firm is conserving cash and limiting new investments while a strategic alternatives review, launched in 2019, remains ongoing with no transaction agreed as of December 31, 2025.
House Hanover, LLC has managed the portfolio since 2018 under an advisory agreement renewed on May 12, 2025, earning a 1% fee on gross assets. At December 31, 2025, investments in four portfolio companies had a cost of $34.1 million and a fair value of $14.3 million, down from $19.2 million a year earlier. Princeton failed to qualify as a regulated investment company for 2024 and 2025 and is taxed as a C corporation while it evaluates strategic options. The stock trades thinly on the OTC Pink Market under “PIAC,” with approximately 95% of shares held by two legacy partnerships, limiting public float and liquidity.