{"content":[{"text":"August 7, 2020","bbox":{"left":0.098039,"top":0.06867,"width":0.13153900000000002,"height":0.016926999999999998}},{"text":"Rand Capital Reports Net Investment \n Income per Share of $0.08 for the Second \n Quarter 2020","bbox":{"left":0.098039,"top":0.12503,"width":0.771466,"height":0.103929}},{"text":"Total investment income grew 15.7% \n Excellent liquidity available to drive portfolio growth, repurchase shares and \n weather economic cycle \n Deployed $2.3 million into 3 portfolio companies during the quarter \n Repurchased 1,300 shares in June 2020 \n Net asset value at June 30, 2020 was $19.21 per share","bbox":{"left":0.147059,"top":0.250488,"width":0.7119230000000001,"height":0.10688900000000001}},{"text":"BUFFALO, N.Y.--(BUSINESS WIRE)-- Rand Capital Corporation (Nasdaq: RAND) (“Rand”), \n a business development company (“BDC”), announced its results for the quarter ended June \n 30, 2020. All per share values for prior periods are adjusted for the 1 for 9 reverse stock split \n that was effective May 21, 2020.","bbox":{"left":0.098039,"top":0.373594,"width":0.801557,"height":0.07090500000000005}},{"text":"Allen F. (“Pete”) Grum, President and Chief Executive Officer of Rand, commented, “Our \n second quarter results demonstrate the effectiveness of our strategy to transform Rand. To \n accomplish this, we externalized our management, distributed a $23.7 million dividend and \n have redirected our investment priorities to yielding instruments. With $22 million of cash \n available to invest, of which the majority will be for lending to lower middle market \n companies, we believe we have the resources to continue to grow net investment income. \n Our objective is to elect regulated investment company tax status for 2020, which will require \n us to distribute 90% of our qualified net investment income in the form of a dividend. During \n the third quarter, we will evaluate the appropriate level of a dividend and the timing of a \n regular distribution to our shareholders.”","bbox":{"left":0.098039,"top":0.460716,"width":0.802515,"height":0.17885799999999996}},{"text":"Second Quarter 2020 Highlights","bbox":{"left":0.098039,"top":0.655791,"width":0.29721,"height":0.016927000000000025}},{"text":"Net asset value (“NAV”) at June 30, 2020 was $49.7 million, down $4.4 million \n compared with $54.1 million at March 31, 2020. The decline in NAV was primarily the \n result of the $4.75 million cash dividend issued on May 11, 2020, which was somewhat \n offset by the $0.4 million increase in net assets from operations. \n On a per share basis, NAV declined to $19.21 per share compared with $33.20 at \n March 31, 2020. The per share decline was primarily the result of the approximately \n 960,000 additional shares distributed as part of the dividend. \n At June 30, 2020, portfolio fair value increased $2.6 million, or 7%, to $38.6 million \n from $36.0 million on March 31, 2020 \n Net investment income grew to $0.08 per share in the second quarter compared with a \n loss of $0.20 per share in the prior-year period.","bbox":{"left":0.147059,"top":0.688935,"width":0.7524789999999999,"height":0.1968510000000001}},{"text":"Second Quarter 2020 Operating Results","bbox":{"left":0.098039,"top":0.902003,"width":0.37018500000000004,"height":0.016927000000000025}},{"text":"Total investment income of $675,000 for the second quarter of 2020 increased 16%, or","bbox":{"left":0.098039,"top":0.935147,"width":0.752509,"height":0.016927000000000025}}],"images_bbox":[{"left":0.656863,"top":0.068182,"width":0.245098,"height":0.036932}],"images_bbox_not_text_overlap":[{"left":0.656863,"top":0.068182,"width":0.245098,"height":0.036932}]}