other material
confidence high
sentiment neutral
materiality 0.55
Rand Capital board approves reducing asset coverage ratio to 150% effective Jan 2025
RAND CAPITAL CORP
- Board approved reduction of minimum asset coverage ratio from 200% to 150%, effective Jan 24, 2025.
- Change permitted by Small Business Credit Availability Act of 2018; requires a required majority vote.
- New ratio allows greater leverage capacity for the BDC, subject to senior securities conditions.