{"schema_version":"secwatch.filing_event.v1","accession":"0001641172-25-021997","form_type":"8-K","ticker":"RAND","cik":"0000081955","company_name":"RAND CAPITAL CORP","filed_at":"2025-08-04T23:59:59+00:00","discovered_at":"2026-05-14T18:02:46.447191+00:00","generated_at":"2026-05-17T21:41:36.058969+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Rand Capital Reports Q2 2025 Net Investment Income of $2.5M and $0.29 Dividend","bullets":["Total investment income fell 25% to $1.6M from $2.1M, driven by portfolio repayments and slower deal originations.","Net investment income rose to $2.5M ($0.83/share) due to a $1.5M capital gains incentive fee benefit from Tilson Technologies bankruptcy.","Ended quarter with $25M total liquidity, no debt; declared regular quarterly cash dividend of $0.29 per share for Q3.","Portfolio fair value was $52.4M across 19 companies, down 26% from Dec 2024; Tilson Technologies valuation decreased $9.5M after Chapter 11 filing.","Adjusted net investment income per share (non-GAAP) was $0.33 compared to $0.44 in the prior-year quarter."],"urls":{"canonical":"https://secwatch.observer/filing/0001641172-25-021997","json":"https://secwatch.observer/filing/0001641172-25-021997.json","markdown":"https://secwatch.observer/filing/0001641172-25-021997.md","text":"https://secwatch.observer/filing/0001641172-25-021997.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/81955/000164117225021997/0001641172-25-021997-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/81955/000164117225021997/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud","generated_at":"2026-05-17T21:41:36.058969+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"}