{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-22-017859","form_type":"8-K","ticker":"RAND","cik":"0000081955","company_name":"RAND CAPITAL CORP","filed_at":"2022-06-27T23:59:59+00:00","discovered_at":"2026-05-14T18:04:03.826828+00:00","generated_at":"2026-06-24T23:08:23.518908+00:00","sec_items":["1.01","2.03","8.01","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Rand Capital secures $25M senior secured credit facility from M&T Bank (SOFR+3.5%, 5-year)","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."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-22-017859","json":"https://secwatch.observer/filing/0001493152-22-017859.json","markdown":"https://secwatch.observer/filing/0001493152-22-017859.md","text":"https://secwatch.observer/filing/0001493152-22-017859.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/81955/000149315222017859/0001493152-22-017859-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/81955/000149315222017859/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-24T23:08:23.518908+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}