Rand Capital Corp. 2024 10-K: Investments & Dividends
Ticker: RAND · Form: 10-K · Filed: 2025-03-10T00:00:00.000Z
Sentiment: neutral
Topics: 10-K, investments, debt, dividends
TL;DR
Rand Capital's 2024 10-K shows $6.1M note w/ Seybert's Billiards & $1.5M note w/ ITA Acquisition. Dividends paid.
AI Summary
Rand Capital Corp. filed its 2024 10-K on March 10, 2025, reporting on its fiscal year ending December 31, 2024. The company's investments include a $6,099,131 note with Seybert's Billiards Corporation and a $1,500,000 note with ITA Acquisition, LLC. Rand Capital Corp. also paid dividends on December 5, 2024, and June 14, 2024.
Why It Matters
This filing provides insight into Rand Capital Corp.'s investment portfolio and financial activities for the fiscal year 2024, including significant notes and dividend payments.
Risk Assessment
Risk Level: medium — The company's performance is tied to the success of its investments, which carry inherent market and credit risks.
Key Numbers
- $6,099,131 — Seybert's Billiards Corporation Note (Significant investment holding)
- $1,500,000 — ITA Acquisition, LLC Note (Significant investment holding)
Key Players & Entities
- RAND CAPITAL CORP (company) — Filer
- Seybert’s Billiards Corporation (company) — Investee
- $6,099,131 (dollar_amount) — Note to Seybert's Billiards Corporation
- ITA Acquisition, LLC (company) — Investee
- $1,500,000 (dollar_amount) — Note to ITA Acquisition, LLC
- 2024-12-31 (date) — Fiscal Year End
- 2025-03-10 (date) — Filing Date
FAQ
What was Rand Capital Corp.'s total investment portfolio value as of December 31, 2024?
The provided text does not explicitly state the total investment portfolio value, but it details specific notes like Seybert's Billiards Corporation ($6,099,131) and ITA Acquisition, LLC ($1,500,000).
What is the interest rate on the Third Amended and Restated Term Note with Seybert's Billiards Corporation?
The filing mentions a 'Third Amended and Restated Term Note at 12%' related to Seybert's Billiards Corporation, implying a 12% interest rate.
What is the interest rate and PIK component for the ITA Acquisition, LLC Term Note?
The ITA Acquisition, LLC Term Note is at 3% interest plus an 11% PIK (Payment-In-Kind) component, maturing through December 31, 2024.
When did Rand Capital Corp. file its 2024 10-K report?
Rand Capital Corp. filed its 2024 10-K report on March 10, 2025.
What were the dates of the dividend payments mentioned in the filing?
The filing mentions dividend payments on December 5, 2024 (O2024Q4RegularDividendsMember) and June 14, 2024 (O2024Q2DividendsMember).
From the Filing
0000950170-25-035949.txt : 20250310 0000950170-25-035949.hdr.sgml : 20250310 20250310084556 ACCESSION NUMBER: 0000950170-25-035949 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 81 CONFORMED PERIOD OF REPORT: 20241231 FILED AS OF DATE: 20250310 DATE AS OF CHANGE: 20250310 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-K SEC ACT: 1934 Act SEC FILE NUMBER: 814-00235 FILM NUMBER: 25722318 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-K 1 rand-20241231.htm 10-K 10-K FY 0000081955 false --12-31 http://fasb.org/us-gaap/2024#RelatedPartyMember http://fasb.org/us-gaap/2024#RelatedPartyMember http://fasb.org/us-gaap/2024#RealizedInvestmentGainsLosses http://fasb.org/us-gaap/2024#UnrealizedGainLossOnInvestments http://fasb.org/us-gaap/2024#RealizedInvestmentGainsLosses http://fasb.org/us-gaap/2024#UnrealizedGainLossOnInvestments .3333 0.4 0000081955 rand:NetRealizedGainLossOfInvestmentMember 2023-01-01 2023-12-31 0000081955 Seybert’s Billiards Corporation - $6,099,131 Third Amended and Restated Term Note at 12% 2024-01-01 2024-12-31 0000081955 us-gaap:FairValueInputsLevel3Member us-gaap:DebtSecuritiesMember 2022-12-31 0000081955 New investments, Seybert’s Billiards Corporation 2024-01-01 2024-12-31 0000081955 us-gaap:InvestmentAffiliatedIssuerControlledMember 2022-01-01 2022-12-31 0000081955 ITA Acquisition, LLC - $1,500,000 Term Note at 3% (+11% PIK) Through December 31, 2024 2024-12-31 0000081955 rand:O2024Q4RegularDividendsMember 2024-12-05 2024-12-05 0000081955 us-gaap:AdditionalPaidInCapitalMember 2023-01-01 2023-12-31 0000081955 Subtotal Non-Control/Non-Affiliate Investments 2023-12-31 0000081955 rand:O2024Q2DividendsMember 2024-06-14 2024-06-14 0000081955 FCM Industries Holdco LLC - $3,380,000 Term Note at 13% 2023-01-01 2023-12-31 0000081955 2021-01-01 2021-12-31 0000081955 rand:ScenarioThreeMember 2024-01-01 2024-12-31 0000081955 BMP Food Service Supply Holdco, LLC - 7,035,000 Second Amended and Restated Term Note, $4,820,000 2023-01-01 2023-12-31 0000081955 Filterworks Acquisition USA, LLC 2023-12-31 0000081955 2023-10-01 2023-12-31 0000081955 Tilson Technology Management, Inc. - 211,567 A-1 Units of SQF Holdco LLC. 2024-12-31 0000081955 rand:HealthAndWellnessMember 2024-12-31 0000081955 BMP Swanson Holdco, LLC $1,600,000 Term Note at 12% 2023-01-01 2023-12-31 0000081955 us-gaap:FairValueInputsLevel3Member rand:TilsonTechnologyManagementIncMember us-gaap:EquitySecuritiesMember 2024-01-01 2024-12-31 0000081955 SciAps, Inc. - 187,500 Series A Preferred 2022-12-31 0000081955 BMP Food Service Supply Holdco, LLC 2024-12-31 0000081955 rand:ScenarioThreeMember srt:MinimumMember 2024-01-01 2024-12-31 0000081955 Knoa Software, Inc. - 973,533 Series A-1 Convertible Preferred 2023-01-01 2023-12-31 0000081955 Inter-National Electronic Alloys LLC $3,288,235 Term Note at 12% 2023-01-01 2023-12-31 0000081955 Applied Image, Inc. - $1,750,000 Term Note at 10% (+2% PIK) through February 1, 2025 2024-12-31 0000081955 GoNoodle, Inc. - 1,500,000 Secured Note 2023-12-31 0000081955 LIABILITIES IN EXCESS OF OTHER ASSETS - (8.4%) 2024-12-31 0000081955 us-gaap:FairValueInputsLevel3Member rand:RheonixIncMember us-gaap:EquitySecuritiesMember 2023-01-01 2023-12-31 0000081955 us-gaap:FairValueInputsLevel3Member us-gaap:DebtSecuritiesMember rand:SeybertBilliardsCorporationMember 2023-01-01 2023-12-31 0000081955 Filterworks Acquisition USA, LLC 417.7 shares Class A-0 Units 2022-12-31 0000081955 Filterworks Acquisition USA, LLC - 626.2 shares Class A-1 Units 2024-12-31 0000081955 Seybert’s Billiards Corporation - $1,435,435 Term Note 2023-12-31 0000081955 Tilson Technology Management, Inc. - 211,567 A-1 Units of SQF Holdco LLC. 20