{"filings":[{"id":2061356,"accession_number":"0001493152-26-036108","cik":81955,"company_name":"RAND CAPITAL CORP","ticker":"RAND","form_type":"8-K","filed_at":"2026-08-05T12:10:19+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"Rand Capital Q2 2026: net investment income $0.24/share (down 71% YoY); NAV $17.33; dividend $0.29","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Total investment income $1.4M, down 13% from $1.6M; non-accruals pressure.","Net investment income $710k ($0.24/share) vs $2.5M ($0.83) prior year; adjusted $0.24 vs $0.33.","Portfolio fair value $56.5M (+16.5% from Dec 2025); deployed $6.9M into two new investments; realized gain $959k.","BMP Swanson write-down of $2.5M to zero; weighted average yield on debt 8.98% vs 11.3%.","Declared Q3 dividend $0.29/share; cash $430k; line of credit $5.1M outstanding."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":31925500.06345177,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":99044,"accession_number":"0001493152-26-021411","cik":81955,"company_name":"RAND CAPITAL CORP","ticker":"RAND","form_type":"8-K","filed_at":"2026-05-06T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"Rand Capital Q1 2026 total investment income $1.2M, down 38% YoY; NII $0.18/share vs $0.42","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Total investment income $1.2M vs $2.0M prior year, driven by lower interest and fee income and non-accruals.","Net investment income $545K ($0.18/share) vs $1.2M ($0.42/share) in Q1 2025.","NAV per share $17.16 at March 31, 2026; portfolio fair value $51.5M.","Realized gain of $1.1M from exit of Seybert's Billiards; deployed $5.1M into new/follow-on investments.","Quarterly dividend maintained at $0.29/share; board renewed $1.5M share repurchase program."],"consensus_eps_estimate":null,"consensus_eps_actual":-0.12,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":"2026-Q1","consensus_source":"xbrl_only","sentiment":"negative","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":31925500.06345177,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":99043,"accession_number":"0001493152-26-018722","cik":81955,"company_name":"RAND CAPITAL CORP","ticker":"RAND","form_type":"8-K","filed_at":"2026-04-23T23:59:59+00:00","items":["5.07"],"status":"ready","headline":"Rand Capital re-elects all five directors and ratifies auditor at 2026 annual meeting","summary_kind":"llm","event_type":"other","confidence":"high","bullets":["All five incumbent directors re-elected: Benjamin Godley, Adam Gusky, Cari Jaroslawsky, Erland Kailbourne, Robert Zak.","Director votes: For votes ranged from 1,230,413 to 1,234,223; broker non-votes 1,097,624 each.","Ratification of WithumSmith+Brown, PC as auditor: 2,382,171 for, 13,227 against, 9,739 abstentions.","No opposition solicitation; all proposals passed per proxy statement filed March 13, 2026."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.1,"calibrated_materiality_score":0.1,"market_cap_usd":31925500.06345177,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":114841,"accession_number":"0001493152-26-008935","cik":81955,"company_name":"RAND CAPITAL CORP","ticker":"RAND","form_type":"8-K","filed_at":"2026-03-05T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"Rand Capital Q4 investment income $1.3M (-40% YoY); full year NII per share up 35%","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q4 total investment income $1.3M, down 40% YoY; net investment income $0.20 per share vs $0.86.","Full year 2025 net investment income per share $1.80, up 35% from $1.33 in 2024.","NAV per share $17.57 at Dec 31, 2025; total liquidity >$23M with no debt outstanding.","Portfolio fair value $48.5M (20 companies) down 32% from 2024; debt investments 79%.","Declared $0.29 quarterly dividend payable Mar 25, 2026; total 2025 dividends $1.72 per share."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":31925500.06345177,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":131227,"accession_number":"0001493152-25-021190","cik":81955,"company_name":"RAND CAPITAL CORP","ticker":"RAND","form_type":"8-K","filed_at":"2025-11-07T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"Rand Capital Q3 net investment income rises to $0.33/share; total investment income falls 29% to $1.6M","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net investment income $993k ($0.33/share) vs $887k ($0.34/share) in Q3 2024; adjusted NII $0.33/share vs $0.46.","Total investment income $1.6M, down 29% YoY; 39% of income was non-cash PIK interest (24% a year ago).","Received $8.3M repayments, funded $2.9M new/follow-on; portfolio fair value $44.3M, down 37% from Dec 2024.","Cash $9.5M, no debt, $18.3M credit line available; paid $0.29/share quarterly dividend.","New $2.5M investment in BlackJet Direct Marketing; realized $2.9M loss on Tilson Technology exit."],"consensus_eps_estimate":null,"consensus_eps_actual":-3.11,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":"2025-Q3","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":31925500.06345177,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":147816,"accession_number":"0001493152-25-013089","cik":81955,"company_name":"RAND CAPITAL CORP","ticker":"RAND","form_type":"8-K","filed_at":"2025-09-11T23:59:59+00:00","items":["4.01","9.01"],"status":"ready","headline":"Rand Capital replaces auditor Freed Maxick with Withum after FM asset acquisition","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Audit Committee and Board approved change on September 11, 2025.","Freed Maxick replaced due to acquisition of certain assets by Withum.","No disagreements or reportable events with FM in fiscal 2023 and 2024.","Withum appointed as independent auditor for fiscal year ending December 31, 2025.","Freed Maxick letter agreeing with disclosures filed as Exhibit 16.1."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.3,"calibrated_materiality_score":0.3,"market_cap_usd":31925500.06345177,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":147815,"accession_number":"0001641172-25-021997","cik":81955,"company_name":"RAND CAPITAL CORP","ticker":"RAND","form_type":"8-K","filed_at":"2025-08-04T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"Rand Capital Reports Q2 2025 Net Investment Income of $2.5M and $0.29 Dividend","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Total investment income fell 25% to $1.6M from $2.1M, driven by portfolio repayments and slower deal originations.","Net investment income rose to $2.5M ($0.83/share) due to a $1.5M capital gains incentive fee benefit from Tilson Technologies bankruptcy.","Ended quarter with $25M total liquidity, no debt; declared regular quarterly cash dividend of $0.29 per share for Q3.","Portfolio fair value was $52.4M across 19 companies, down 26% from Dec 2024; Tilson Technologies valuation decreased $9.5M after Chapter 11 filing.","Adjusted net investment income per share (non-GAAP) was $0.33 compared to $0.44 in the prior-year quarter."],"consensus_eps_estimate":null,"consensus_eps_actual":-2.36,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":"2025-Q2","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":31925500.06345177,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":166519,"accession_number":"0001641172-25-012952","cik":81955,"company_name":"RAND CAPITAL CORP","ticker":"RAND","form_type":"8-K","filed_at":"2025-05-30T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"Rand Capital's portfolio company Tilson Technology files Chapter 11; investment value uncertain","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Tilson Technology Management and subsidiaries filed Chapter 11 in Delaware on May 29, 2025.","Rand holds preferred stock in Tilson with cost basis ~$2.85M and fair value $9.5M as of March 31, 2025.","Tilson investment represents ~14.6% of net assets and ~15.3% of total investments at fair value.","Rand also holds SQF Holdco units valued at ~$2M; SQF is not part of the bankruptcy proceedings.","Management is monitoring proceedings and evaluating the impact on the investment."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":31925500.06345177,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":166518,"accession_number":"0001641172-25-008614","cik":81955,"company_name":"RAND CAPITAL CORP","ticker":"RAND","form_type":"8-K","filed_at":"2025-05-05T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"Rand Capital Q1 NII up 45% to $0.42/shr; NAV drops to $21.99 from $25.31","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net investment income $1.2M ($0.42/shr) vs $840K ($0.33/shr) YoY; total investment income $2.0M, down 3%.","NAV per share fell 13% to $21.99 from $25.31 at year-end 2024, partly due to share issuance.","Revolver debt fully repaid; quarter-end cash $4.9M and $22M available credit capacity.","Declared unchanged Q2 dividend of $0.29/shr; weighted average shares up 11% to 2.87M.","Annualized yield on debt investments declined to 12.2% from 13.8% at year-end 2024."],"consensus_eps_estimate":null,"consensus_eps_actual":0.29,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":"2025-Q1","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":31925500.06345177,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":166517,"accession_number":"0001641172-25-006010","cik":81955,"company_name":"RAND CAPITAL CORP","ticker":"RAND","form_type":"8-K","filed_at":"2025-04-24T23:59:59+00:00","items":["5.07"],"status":"ready","headline":"Rand Capital announces annual meeting results: directors re-elected, auditor ratified","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["All five director nominees re-elected: Benjamin Godley, Adam Gusky, Cari Jaroslawsky, Erland Kailbourne, Robert Zak with ~2.08M votes each.","Ratification of Freed Maxick, P.C. as independent auditor for 2025 approved with 2,428,455 votes for, 1,165 against.","Broker non-votes of 351,499 on director elections; none on auditor ratification."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.1,"calibrated_materiality_score":0.1,"market_cap_usd":31925500.06345177,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":183943,"accession_number":"0001493152-25-010689","cik":81955,"company_name":"RAND CAPITAL CORP","ticker":"RAND","form_type":"8-K","filed_at":"2025-03-18T23:59:59+00:00","items":["7.01","9.01"],"status":"ready","headline":"Rand Capital furnishes investor presentation slides; no specific data in filing","summary_kind":"llm","event_type":"other","confidence":"low","bullets":["Company to present to analysts and investors beginning March 18, 2025; slides on website.","No financial figures, guidance, or material updates provided in the 8-K text or exhibit.","Presentation slides are a general overview; no operational or strategic specifics disclosed.","Ticker RAND listed on Nasdaq; filing is routine disclosure per Regulation FD."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.05,"calibrated_materiality_score":0.05,"market_cap_usd":31925500.06345177,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":183942,"accession_number":"0001493152-25-009642","cik":81955,"company_name":"RAND CAPITAL CORP","ticker":"RAND","form_type":"8-K","filed_at":"2025-03-10T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"Rand Capital reports 17% investment income growth in 2024; NAV up 7% to $25.31","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Total investment income rose 17% to $8.6M for full year 2024, driven by debt portfolio expansion.","Net investment income per share $1.33 in 2024 vs $1.15 in 2023; adjusted NII per share $1.72 vs $1.46.","Debt investments now 75% of portfolio (up from 64% in 2023); weighted average yield 13.8%.","2024 total dividends of $5.03/share, including $3.36 stock dividend; regular quarterly cash raised 16%.","Bank debt reduced to $600k on $25M facility; $2.9M new investment in Mobile IV Nurses."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":31925500.06345177,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":183941,"accession_number":"0001493152-25-001955","cik":81955,"company_name":"RAND CAPITAL CORP","ticker":"RAND","form_type":"8-K","filed_at":"2025-01-13T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"Rand Capital reports Q4 dividend election: 98% chose cash, paid 20.4% cash due to cap","summary_kind":"llm","event_type":"dividend","confidence":"high","bullets":["Dividend of $4.20/share (~$10.8M total) payable Jan 24, 2025.","Cash limited to 20% (~$2.2M); remaining ~$8.7M paid in stock at $22.30 VWAP.","98% of shares elected cash; due to limit, each cash elector gets ~20.4% cash, 79.6% stock.","Total shares to be distributed ~389k; post-distribution shares outstanding ~2.97M."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"market_cap_usd":31925500.06345177,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":200536,"accession_number":"0001493152-24-050331","cik":81955,"company_name":"RAND CAPITAL CORP","ticker":"RAND","form_type":"8-K","filed_at":"2024-12-17T23:59:59+00:00","items":["7.01","9.01"],"status":"ready","headline":"Rand Capital issues shareholder notice for $4.20 dividend election; cash portion capped at 20% of $10.8M","summary_kind":"llm","event_type":"dividend","confidence":"high","bullets":["Dividend of $4.20 per share, aggregate ~$10.8M, payable Jan 24, 2025 to holders of record Dec 16, 2024.","Total cash component limited to 20% of aggregate dividend; excess cash elections pro-rated.","Stock price for conversion set at VWAP $22.30 (Dec 11-13), resulting in ~388,806 new shares.","Shareholders can elect cash or stock; election forms due Jan 7, 2025; silence defaults to cash election."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"market_cap_usd":31925500.06345177,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":200535,"accession_number":"0001493152-24-048884","cik":81955,"company_name":"RAND CAPITAL CORP","ticker":"RAND","form_type":"8-K","filed_at":"2024-12-05T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"Rand Capital declares $4.20/share stock and cash dividend for Q4 2024","summary_kind":"llm","event_type":"dividend","confidence":"high","bullets":["Dividend of $4.20 per share, aggregate ~$10.8 million, payable in cash and stock.","Cash portion limited to 20% of aggregate (~$2.2M); remainder payable in common stock.","Record date December 16, 2024; payment date on or about January 24, 2025.","CEO cites $11.1M net realized gains in nine months ending Sept 30, 2024, from portfolio exits.","Dividend reflects continued transition to a debt-focused portfolio of mezzanine investments."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"market_cap_usd":31925500.06345177,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":216551,"accession_number":"0001493152-24-030363","cik":81955,"company_name":"RAND CAPITAL CORP","ticker":"RAND","form_type":"8-K","filed_at":"2024-08-06T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"Rand Capital Q2 2024: Investment income up 18% to $2.1M; NAV rises 11% to $26.56","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Total investment income $2.1M (+18% YoY); net investment loss of $0.20/share due to $1.2M capital gains incentive fee accrual.","Adjusted net investment income per share $0.44, up 16% from $0.38; adjusted expenses $1.0M vs $816k.","NAV $26.56 per share at June 30, 2024, up 11% from March 31 and 13% from year-end 2023.","Reduced debt by $2.0M during quarter, repaid additional $2.3M after quarter-end; portfolio SciAps pending acquisition in 2024.","Declared Q3 dividend of $0.29 per share, unchanged; sold BDC holdings for $3.3M proceeds with $1.3M realized gain."],"consensus_eps_estimate":null,"consensus_eps_actual":3.54,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":"2024-Q2","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":31925500.06345177,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":236201,"accession_number":"0001493152-24-018794","cik":81955,"company_name":"RAND CAPITAL CORP","ticker":"RAND","form_type":"8-K","filed_at":"2024-05-13T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"Rand Capital Q1 2024: total investment income +12% to $2.1M, dividend raised 16% to $0.29/share","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net investment income $840,000 ($0.33/share), up 17% YoY; NAV per share $23.85, up 1% from year-end 2023.","Debt investments now 70% of portfolio (vs 64% year-end 2023); annualized weighted avg yield on debt 13.7%.","Invested $10.8M in new/follow-on investments; sold remaining ACV Auctions stock for $3.5M realized gain.","Regular quarterly dividend increased 16% to $0.29/share, payable June 14, 2024 to holders of record May 31.","Board renewed share repurchase program authorizing up to $1.5M of common stock purchases through May 2025."],"consensus_eps_estimate":null,"consensus_eps_actual":0.54,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":"2024-Q1","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":31925500.06345177,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":236200,"accession_number":"0001493152-24-018256","cik":81955,"company_name":"RAND CAPITAL CORP","ticker":"RAND","form_type":"8-K","filed_at":"2024-05-08T23:59:59+00:00","items":["5.07"],"status":"ready","headline":"Rand Capital shareholders re-elect all five directors and ratify auditor at 2024 Annual Meeting","summary_kind":"llm","event_type":"other","confidence":"high","bullets":["Five directors re-elected: Godley, Gusky, Jaroslawsky, Kailbourne, Zak – each with >1.2M votes for.","Broker non-votes of 1,149,953 on director election.","Auditor ratified: 2,384,885 for, 13,856 against, 3,592 abstentions.","No opposition solicitation; all proposals passed."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.1,"calibrated_materiality_score":0.1,"market_cap_usd":31925500.06345177,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":253904,"accession_number":"0001493152-24-008773","cik":81955,"company_name":"RAND CAPITAL CORP","ticker":"RAND","form_type":"8-K","filed_at":"2024-03-05T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"Rand Capital Reports 27% Total Investment Income Growth in 2023; Dividends Up 60% to $1.33/Share","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Total investment income $7.3M in 2023 (+27% YoY); Q4 income $1.9M (+11%).","Adjusted net investment income per share $1.46, up 11% from $1.31 in 2022.","Portfolio fair value $77.1M (+25% YoY); 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requires a required majority vote.","New ratio allows greater leverage capacity for the BDC, subject to senior securities conditions."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"market_cap_usd":31925500.06345177,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":288213,"accession_number":"0001493152-23-026712","cik":81955,"company_name":"RAND CAPITAL CORP","ticker":"RAND","form_type":"8-K","filed_at":"2023-08-04T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"Rand Capital Q2 total investment income rises 34% to $1.8M; NAV per share $23.79","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net investment income $493K ($0.19/sh); adjusted NII $0.38/sh vs $0.29 prior year.","Portfolio fair value $66.8M (+9% from Dec 2022); debt yield 13.5%; 29 portfolio companies.","Received $6.8M proceeds from DSD sale with $2.5M gain; sold 125K ACV Auctions shares for $1.7M gain.","Cash $8.4M, up from $1.4M at year-end; paid down $3M on $10.7M credit facility in July.","Declared Q3 dividend $0.25/sh payable Sept 14, 2023 to holders of record Aug 31."],"consensus_eps_estimate":null,"consensus_eps_actual":1.88,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":"2023-Q2","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":31925500.06345177,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":308664,"accession_number":"0001493152-23-015861","cik":81955,"company_name":"RAND CAPITAL CORP","ticker":"RAND","form_type":"8-K","filed_at":"2023-05-09T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"Rand Capital Q1 total investment income up 65% to $1.85M; dividend raised 25% to $0.25/share","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Total investment income $1.85M, up 65% YoY; adjusted NII per share $0.39 vs $0.21.","NAV per share $23.00, up 3% from Dec 31, 2022; portfolio fair value $68.2M (+11%).","Quarterly dividend increased 25% to $0.25/share; payable June 14, 2023.","Board renewed $1.5M share repurchase program through April 19, 2024.","Invested $5.6M in new/follow-on investments; cash $1.8M at quarter end."],"consensus_eps_estimate":null,"consensus_eps_actual":0.84,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":"2023-Q1","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":31925500.06345177,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":308663,"accession_number":"0001493152-23-013110","cik":81955,"company_name":"RAND CAPITAL CORP","ticker":"RAND","form_type":"8-K","filed_at":"2023-04-20T23:59:59+00:00","items":["5.07"],"status":"ready","headline":"Rand Capital shareholders re-elect all five directors and ratify auditor at 2023 annual meeting","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Benjamin Godley received 2,118,414 votes for; Adam Gusky 2,100,584; Cari Jaroslawsky 2,118,260; Erland Kailbourne 1,934,033; Robert Zak 2,100,819.","All director nominees re-elected with broker non-votes of 264,829 on each.","Freed Maxick CPAs ratified as independent auditor for FY 2023 with 2,378,150 votes for, 4,471 against, 7,192 abstentions.","No opposition solicitation was made to management's nominees."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.25,"calibrated_materiality_score":0.15,"market_cap_usd":31925500.06345177,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":327445,"accession_number":"0001493152-23-007169","cik":81955,"company_name":"RAND CAPITAL CORP","ticker":"RAND","form_type":"8-K","filed_at":"2023-03-10T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"Rand Capital Q4 total investment income up 40% to $1.7M; raises quarterly dividend 33%","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q4 net investment income per share $0.48 vs $0.12 prior year; adjusted $0.41 vs $0.16.","Full year 2022 net investment income per share $1.72, reversing prior year loss of $1.01 per share.","Debt portfolio now 56% of total portfolio (vs 46% in 2021); annualized weighted average yield on debt 12.6%.","Paid total dividends of $0.83 per share in 2022, up ~90%; regular quarterly dividend raised 33% to $0.20.","Net asset value per share $22.36 at year-end vs $23.54 a year ago; cash plus public equities available $7.8M."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":31925500.06345177,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":380994,"accession_number":"0001493152-22-017859","cik":81955,"company_name":"RAND CAPITAL CORP","ticker":"RAND","form_type":"8-K","filed_at":"2022-06-27T23:59:59+00:00","items":["1.01","2.03","8.01","9.01"],"status":"ready","headline":"Rand Capital secures $25M senior secured credit facility from M&T Bank (SOFR+3.5%, 5-year)","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Entered into $25M senior secured revolving credit facility with M&T Bank; matures June 2027.","Interest rate: Daily Simple SOFR plus 3.50% per annum, with 0.25% SOFR floor.","Proceeds to be used for future portfolio investments in lower middle market companies.","Borrowing base: 75% of public equity FMV, 50% of eligible private loans, with sub-limits.","Financial covenants: tangible net worth ≥$50M, asset coverage ≥3:1, interest coverage ≥2.5:1."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":31925500.06345177,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":380993,"accession_number":"0001493152-22-010731","cik":81955,"company_name":"RAND CAPITAL CORP","ticker":"RAND","form_type":"8-K","filed_at":"2022-04-22T23:59:59+00:00","items":["5.07"],"status":"ready","headline":"Rand Capital shareholders re-elect all five directors; ratify auditor","summary_kind":"llm","event_type":"other","confidence":"high","bullets":["Annual Meeting held April 21, 2022; no opposition solicitation.","Directors re-elected: Godley (1,894,651 for), Gusky, Jaroslawsky, Kailbourne, Zak — each with ~217K broker non-votes.","Freed Maxick CPAs ratified as auditor: 2,031,250 for, 251,326 against, 6,124 abstentions.","All director nominees received majority support; no changes to board composition."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.15,"calibrated_materiality_score":0.15,"market_cap_usd":31925500.06345177,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":418019,"accession_number":"0001493152-21-032896","cik":81955,"company_name":"RAND CAPITAL CORP","ticker":"RAND","form_type":"8-K","filed_at":"2021-12-30T23:59:59+00:00","items":["1.01","2.01","8.01"],"status":"ready","headline":"Rand Capital merges wholly owned subs; Sub Inc. withdraws BDC election and deregisters","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Merger of Rand Capital Sub, Inc. into Rand Capital Sub LLC effective Dec 30, 2021.","Sub Inc. withdrew its election as a business development company on Dec 30, 2021.","Parent filed Form 15 to deregister Sub Inc. common stock and suspend reporting obligations.","All 1,145 shares of Sub Inc. common stock cancelled for no consideration.","Merger treated as complete liquidation under IRC Sections 332 and 337."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.15,"calibrated_materiality_score":0.15,"market_cap_usd":31925500.06345177,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":418018,"accession_number":"0001493152-21-028169","cik":81955,"company_name":"RAND CAPITAL CORP","ticker":"RAND","form_type":"8-K","filed_at":"2021-11-12T23:59:59+00:00","items":["5.03","9.01"],"status":"ready","headline":"Rand Capital subsidiary surrenders SBIC license, changes name to Rand Capital Sub, Inc.","summary_kind":"llm","event_type":"regulatory","confidence":"high","bullets":["Wholly owned subsidiary Rand Capital SBIC, Inc. surrendered its SBIC license to the SBA effective Nov 8, 2021.","Filed restated certificate of incorporation changing name to Rand Capital Sub, Inc. and removing SBIC references on Nov 10, 2021.","Amended and restated bylaws to conform to new name and remove SBIC references; approved by board and sole shareholder Oct 29, 2021.","SBA acceptance of license surrender received Nov 8, 2021, triggering effectiveness of corporate changes."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":31925500.06345177,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":418017,"accession_number":"0001493152-21-027106","cik":81955,"company_name":"RAND CAPITAL CORP","ticker":"RAND","form_type":"8-K","filed_at":"2021-11-03T23:59:59+00:00","items":["2.04"],"status":"ready","headline":"Rand Capital subsidiary repays $11.2M SBA debentures, surrenders SBIC license","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Wholly-owned subsidiary Rand Capital SBIC Inc. repaid all SBA-guaranteed debentures plus accrued interest totaling $11.2M on Nov 2, 2021.","Company notified SBA of intention to surrender its SBIC license, ceasing SBIC operations.","Repayment and license surrender terminate access to an additional $3M in SBA-guaranteed debentures."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":31925500.06345177,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":418016,"accession_number":"0001493152-21-026241","cik":81955,"company_name":"RAND CAPITAL CORP","ticker":"RAND","form_type":"8-K","filed_at":"2021-10-25T23:59:59+00:00","items":["5.02","9.01"],"status":"ready","headline":"Rand Capital CEO Pete Grum to retire Dec 1; 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