Rand Capital Corp. Q3 2024: Investments and Notes Detailed
Ticker: RAND · Form: 10-Q · Filed: 2024-11-06T00:00:00.000Z
Sentiment: neutral
Topics: investment-portfolio, debt-holdings, quarterly-report, financials
TL;DR
**Rand Capital Q3: Portfolio includes Tilson Tech, Mezmeriz, SciAps; $4.4M+ in notes outstanding.**
AI Summary
Rand Capital Corp. reported its Q3 2024 results, ending September 30, 2024. The company's investments include holdings in Tilson Technology Management, Inc., Mezmeriz, Inc., and SciAps, Inc. Rand Capital also has term notes with Seybert’s Billiards Corporation for $1,435,435 and Mountain Regional Equipment Solutions for $3,000,000.
Why It Matters
This filing provides insight into Rand Capital's investment portfolio and debt holdings, which are key indicators of its 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.
Key Numbers
- $1,435,435 — Term Note (Amount owed by Seybert's Billiards Corporation as of September 30, 2024.)
- $3,000,000 — Term Note (Amount owed by Mountain Regional Equipment Solutions as of September 30, 2024.)
Key Players & Entities
- Rand Capital Corp. (company) — Filer of the 10-Q
- Tilson Technology Management, Inc. (company) — Investment
- Mezmeriz, Inc. (company) — Investment
- SciAps, Inc. (company) — Investment
- Seybert’s Billiards Corporation (company) — Note Holder
- Mountain Regional Equipment Solutions (company) — Note Holder
- $1,435,435 (dollar_amount) — Term Note with Seybert's Billiards Corporation
- $3,000,000 (dollar_amount) — Term Note with Mountain Regional Equipment Solutions
FAQ
What is the total value of Rand Capital Corp.'s investments as of September 30, 2024?
The filing does not explicitly state the total value of all investments, but lists specific holdings like Tilson Technology Management, Inc., Mezmeriz, Inc., and SciAps, Inc.
What are the terms of the term note with Seybert’s Billiards Corporation?
The term note with Seybert’s Billiards Corporation is for $1,435,435 and was outstanding from January 1, 2024, to September 30, 2024.
What is the nature of Rand Capital Corp.'s investment in Filterworks Acquisition USA, LLC?
Rand Capital Corp. holds Class A-0 Units (-417.7 shares) and Class A-1 Units (626.2 shares) in Filterworks Acquisition USA, LLC d/b/a Autotality.
Does Rand Capital Corp. have any dividend payments mentioned in this filing?
Yes, the filing mentions 'rand:O2024Q2DividendsMember' related to dividend payments on June 14, 2024.
What is the fiscal year end for Rand Capital Corp.?
Rand Capital Corp.'s fiscal year ends on December 31.
From the Filing
0000950170-24-121811.txt : 20241106 0000950170-24-121811.hdr.sgml : 20241106 20241106073031 ACCESSION NUMBER: 0000950170-24-121811 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 59 CONFORMED PERIOD OF REPORT: 20240930 FILED AS OF DATE: 20241106 DATE AS OF CHANGE: 20241106 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: 241429245 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-20240930.htm 10-Q 10-Q Q3 --12-31 false 0000081955 http://fasb.org/us-gaap/2024#RelatedPartyMember http://fasb.org/us-gaap/2024#RelatedPartyMember 33.33 40 0000081955 us-gaap:FairValueInputsLevel3Member rand:ControlInvestmentsMember 2024-09-30 0000081955 Tilson Technology Management, Inc. - 15,385 Series E Preferred 2023-12-31 0000081955 rand:O2024Q2DividendsMember 2024-06-14 2024-06-14 0000081955 Mezmeriz, Inc. - 1,554,565 Series Seed Preferred 2023-12-31 0000081955 Filterworks Acquisition USA, LLC d/b/a Autotality -417.7 shares Class A-0 Units 2023-01-01 2023-12-31 0000081955 Seybert’s Billiards Corporation - $1,435,435 Term Note 2024-01-01 2024-09-30 0000081955 rand:InvestmentsAtFairValueMember rand:ConsumerProductMember rand:IndustryConcentrationRiskMember 2024-09-30 0000081955 SciAps, Inc. - 113,636 Series C Convertible Preferred 2022-12-31 0000081955 Filterworks Acquisition USA, LLC 626.2 shares Class A-1 Units. 2023-12-31 0000081955 Mountain Regional Equipment Solutions - Warrant for 1% Membership Interest 2024-01-01 2024-09-30 0000081955 srt:MinimumMember 2024-09-30 0000081955 Mountain Regional Equipment Solutions - $3,000,000 Term Note 2024-01-01 2024-09-30 0000081955 rand:CreditAgreementMember us-gaap:RevolvingCreditFacilityMember 2024-09-30 0000081955 us-gaap:InvestmentAffiliatedIssuerControlledMember 2023-07-01 2023-09-30 0000081955 BMP Food Service Supply Holdco, LLC - 15.4% Preferred Interest 2023-12-31 0000081955 GoNoodle, Inc. - Warrant for 21,948 Series D Preferred 2024-01-01 2024-09-30 0000081955 BMP Food Service Supply Holdco, LLC 2024-09-30 0000081955 us-gaap:FairValueInputsLevel3Member us-gaap:DebtSecuritiesMember rand:SeybertBilliardsCorporationMember 2023-01-01 2023-09-30 0000081955 us-gaap:FairValueInputsLevel3Member us-gaap:DebtSecuritiesMember rand:SeybertBilliardsCorporationMember 2024-01-01 2024-09-30 0000081955 Caitec, Inc. - $1,750,000 Subordinated Secured Promissory Note One 2023-12-31 0000081955 us-gaap:FairValueInputsLevel3Member rand:TilsonTechnologyManagementIncMember 2024-01-01 2024-09-30 0000081955 DSD Operating, LLC 2024-01-01 2024-09-30 0000081955 Inter-National Electronic Alloys LLC $3,288,235 Term Note at 12% 2023-12-31 0000081955 Seybert’s Billiards Corporation 2024-09-30 0000081955 Caitec, Inc. - $1,750,000 Subordinated Secured Promissory Note One to 12% 2023-12-31 0000081955 BMP Food Service Supply Holdco, LLC - 7,035,000 Second Amended and Restated Term Note, $4,820,000 2024-09-30 0000081955 Filterworks Acquisition USA, LLC 626.2 shares Class A-1 Units. 2022-12-31 0000081955 rand:InvestmentManagementAgreementMember 2024-01-01 2024-09-30 0000081955 Subtotal Affiliate Investments 2024-09-30 0000081955 Filterworks Acquisition USA, LLC - $2,283,702 Amended Term Note 2024-01-01 2024-09-30 0000081955 rand:CreditAgreementMember us-gaap:RevolvingCreditFacilityMember 2023-12-31 0000081955 Nailbiter, Inc. 2024-09-30 0000081955 HDI Acquisition LLC. - $1,245,119 Term Loan 2024-01-01 2024-09-30 0000081955 BMP Swanson Holdco, LLC - Preferred Membership Interest for 9.24% 2023-12-31 0000081955 rand:ItaAcquisitionLlcMember 2024-01-01 2024-09-30 0000081955 us-gaap:FairValueInputsLevel3Member rand:HighlandAllAboutPeopleHoldingsIncMember 2024