secwatch.observer — SEC 8-K summary
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Issuer:     RAND CAPITAL CORP (RAND)
CIK:        0000081955
Form:       8-K
Filed at:   2025-05-30T23:59:59+00:00
Accession:  0001641172-25-012952
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Rand Capital's portfolio company Tilson Technology files Chapter 11; investment value uncertain
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/81955/000164117225012952/0001641172-25-012952-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/81955/000164117225012952/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-012952

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