---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-026712"
form_type: "8-K"
ticker: "RAND"
cik: "0000081955"
company_name: "RAND CAPITAL CORP"
filed_at: "2023-08-04T23:59:59+00:00"
generated_at: "2026-06-12T06:43:35.927434+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Rand Capital Q2 total investment income rises 34% to $1.8M; NAV per share $23.79

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-23-026712
- form_type: 8-K
- ticker: RAND
- cik: 0000081955
- company_name: RAND CAPITAL CORP
- filed_at: 2023-08-04T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/81955/000149315223026712/0001493152-23-026712-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/81955/000149315223026712/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-026712
- JSON: https://secwatch.observer/filing/0001493152-23-026712.json
- Plain text: https://secwatch.observer/filing/0001493152-23-026712.txt

## Key facts
- Earnings Releases
  RAND CAPITAL CORP reported the second quarter ended June 30, 2023 results: revenue $1.8 million, net income $493,000, or $0.19 per share, EPS $0.19 per share.
  - Period: the second quarter ended June 30, 2023
  - Revenue: $1.8 million
  - Net income: $493,000, or $0.19 per share
  - EPS: $0.19 per share
  - Result: reported results
  source text: • Buffalo, New York 14203 FOR IMMEDIATE RELEASE Rand Capital Reports 34% Increase in Total Investment Income for Second Quarter 2023 ● Total investment income increased 34% to $1.8 million for the quarter compared with the second quarter last year driven by strong growth in interest and fee income ● Net asset value per share (“NAV”) was $23.79 at June 30, 2023,
  evidence_url: https://www.sec.gov/Archives/edgar/data/81955/000149315223026712/0001493152-23-026712-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.