{"schema_version":"secwatch.filing_event.v1","accession":"0001641172-25-008614","form_type":"8-K","ticker":"RAND","cik":"0000081955","company_name":"RAND CAPITAL CORP","filed_at":"2025-05-05T23:59:59+00:00","discovered_at":"2026-05-14T18:02:51.391427+00:00","generated_at":"2026-05-22T19:55:34.209277+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Rand Capital Q1 NII up 45% to $0.42/shr; NAV drops to $21.99 from $25.31","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."],"urls":{"canonical":"https://secwatch.observer/filing/0001641172-25-008614","json":"https://secwatch.observer/filing/0001641172-25-008614.json","markdown":"https://secwatch.observer/filing/0001641172-25-008614.md","text":"https://secwatch.observer/filing/0001641172-25-008614.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/81955/000164117225008614/0001641172-25-008614-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/81955/000164117225008614/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-22T19:55:34.209277+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"}