Rand Capital Corp. Q1 2024 Update: Investment Portfolio Details

Ticker: RAND · Form: 10-Q · Filed: 2024-05-13T00:00:00.000Z

Sentiment: neutral

Topics: investment-portfolio, debt-financing, quarterly-report

TL;DR

**Rand Capital Q1 2024: Significant debt investments in FCM ($3.38M @ 13%) and Inter-National Electronic Alloys ($3.29M @ 12%)**

AI Summary

Rand Capital Corp. reported its first quarter 2024 results ending March 31, 2024. The company's investments include stakes in Filterworks Acquisition USA, LLC, FCM Industries Holdco LLC, PostProcess Technologies, Inc., and SciAps, Inc. Notably, Rand Capital holds a $3,380,000 Term Note at 13% with FCM Industries Holdco LLC and a $3,288,235 Term Note at 12% with Inter-National Electronic Alloys LLC.

Why It Matters

This filing provides insight into Rand Capital's current investment holdings and debt instruments, which are crucial for understanding the company's financial health and future growth prospects.

Risk Assessment

Risk Level: medium — The company's risk level is medium due to its investment in various companies and the associated market and credit risks of its debt instruments.

Key Numbers

Key Players & Entities

FAQ

What was Rand Capital Corp.'s total investment in FCM Industries Holdco LLC as of March 31, 2024?

As of March 31, 2024, Rand Capital Corp. held a $3,380,000 Term Note at 13% with FCM Industries Holdco LLC.

What is the principal amount of the term note Rand Capital Corp. holds with Inter-National Electronic Alloys LLC?

Rand Capital Corp. holds a $3,288,235 Term Note at 12% with Inter-National Electronic Alloys LLC.

Which company's Series A Preferred stock did Rand Capital Corp. hold as of December 31, 2022?

As of December 31, 2022, Rand Capital Corp. held 187,500 shares of SciAps, Inc. Series A Preferred stock.

What type of security does Rand Capital Corp. hold in PostProcess Technologies, Inc.?

Rand Capital Corp. holds 360,002 shares of Series A1 Preferred stock in PostProcess Technologies, Inc.

What is the fiscal year end for Rand Capital Corp.?

Rand Capital Corp.'s fiscal year ends on December 31.

From the Filing

0000950170-24-058202.txt : 20240513 0000950170-24-058202.hdr.sgml : 20240513 20240513073146 ACCESSION NUMBER: 0000950170-24-058202 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 59 CONFORMED PERIOD OF REPORT: 20240331 FILED AS OF DATE: 20240513 DATE AS OF CHANGE: 20240513 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RAND CAPITAL CORP CENTRAL INDEX KEY: 0000081955 ORGANIZATION NAME: IRS NUMBER: 160961359 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 814-00235 FILM NUMBER: 24936883 BUSINESS ADDRESS: STREET 1: 1405 RAND BUILDING CITY: BUFFALO STATE: NY ZIP: 14203 BUSINESS PHONE: 7168530802 MAIL ADDRESS: STREET 1: 1405 RAND BUILDING CITY: BUFFALO STATE: NY ZIP: 14203 10-Q 1 rand-20240331.htm 10-Q 10-Q false Q1 --12-31 0000081955 http://fasb.org/us-gaap/2023#RelatedPartyMember http://fasb.org/us-gaap/2023#RelatedPartyMember 33.33 40 0000081955 us-gaap:RetainedEarningsMember 2023-12-31 0000081955 Filterworks Acquisition USA, LLC d/b/a Autotality - 417.7 shares Class A-0 Units 2024-03-31 0000081955 FCM Industries Holdco LLC 2023-12-31 0000081955 us-gaap:EquitySecuritiesMember rand:KnoaSoftwareIncMember us-gaap:FairValueInputsLevel3Member 2024-01-01 2024-03-31 0000081955 PostProcess Technologies, Inc. - 360,002 Series A1 Preferred 2024-01-01 2024-03-31 0000081955 SciAps, Inc. - 187,500 Series A Preferred 2022-12-31 0000081955 SciAps, Inc. - 187,500 Series A Preferred 2023-01-01 2023-12-31 0000081955 FCM Industries Holdco LLC - $3,380,000 Term Note at 13% 2023-01-01 2023-12-31 0000081955 us-gaap:RetainedEarningsMember 2022-12-31 0000081955 FS KKR Capital Corp. - 48,000 shares 2023-01-01 2023-12-31 0000081955 SciAps, Inc. - 274,299 Series A1 Convertible Preferred 2022-12-31 0000081955 Investments, NET ASSETS - 100% 2023-12-31 0000081955 HDI Acquisition LLC. - $1,245,119 Term Loan 2024-01-01 2024-03-31 0000081955 Inter-National Electronic Alloys LLC - $3,288,235 Term Note at 12% 2023-12-31 0000081955 Inter-National Electronic Alloys LLC - $3,288,235 Term Note at 12% 2024-01-01 2024-03-31 0000081955 BMP Swanson Holdco, LLC - $1,600,000 Term Note 2023-01-01 2023-12-31 0000081955 Highland All About People Holdings, Inc. - 1,000,000 Class A Units 2023-01-01 2023-12-31 0000081955 us-gaap:FairValueInputsLevel3Member 2023-03-31 0000081955 FCM Industries Holdco LLC - $3,380,000 Term Note at 13% 2023-12-31 0000081955 SciAps, Inc. - 147,059 Series D Convertible Preferred 2023-12-31 0000081955 Tilson Technology Management, Inc. - 211,567 A-1 Units of SQF Holdco LLC. 2024-01-01 2024-03-31 0000081955 Tilson Technology Management, Inc. - 120,000 Series B Preferred 2023-12-31 0000081955 BMP Food Service Supply 2024-03-31 0000081955 rand:HdiAcquisitionLlcMember us-gaap:FairValueInputsLevel3Member us-gaap:DebtSecuritiesMember 2024-01-01 2024-03-31 0000081955 Seybert’s Billiards Corporation - $6,099,131 Third Amended and Restated Term Note at 12% 2024-01-01 2024-03-31 0000081955 SciAps, Inc. - 147,059 Series D Convertible Preferred 2024-01-01 2024-03-31 0000081955 Mountain Regional Equipment Solutions - $3,000,000 Term Note 2024-01-01 2024-03-31 0000081955 us-gaap:CommonStockMember 2023-03-31 0000081955 rand:SoftwareMember rand:IndustryConcentrationRiskMember rand:InvestmentsAtFairValueMember 2024-03-31 0000081955 ITA Acquisition, LLC - $1,500,000 Term Note at 12% 2024-01-01 2024-03-31 0000081955 Seybert’s Billiards Corporation - Warrant for 4% Membership Interest 2023-01-01 2023-12-31 0000081955 Tilson Technology Management, Inc. - *2.5% dividend payable quarterly 2024-03-31 0000081955 srt:MinimumMember 2023-01-01 2023-12-31 0000081955 us-gaap:SubsequentEventMember 2024-05-08 2024-05-08 0000081955 Caitec, Inc. - 36,261 Series A Preferred 2024-01-01 2024-03-31 0000081955 rand:SciapsIncMember 2023-01-01 2023-12-31 0000081955 srt:MaximumMember 2023-01-01 2023-12-31 0000081955 BMP Food Service Supply Holdco, LLC - 7,035,000 Second Amended and Restated Term Note, $2,215,0

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