Rand Capital's Board of Directors Approves Reduction of Asset Coverage Requirement [Yahoo! Finance]
Rand Capital Corporation - Closed End Fund (RAND)
US:NASDAQ Investor Relations:
ir.randcapital.com
Company Research
Source: Yahoo! Finance
BUFFALO, N.Y., January 29, 2024 BUSINESS WIRE Rand Capital Corporation (Nasdaq: RAND) ("Rand" or the "Company"), a business development company providing alternative financing for lower middle market companies, announced today that, on January 24, 2024, its Board of Directors approved a reduction of the Company's minimum asset coverage ratio from 200% to 150%, effective January 24, 2025. Daniel P. Penberthy, President and CEO, commented, "By taking this step now, we are better positioning Rand for the long term and more closely aligning the Company with other BDC funds corporate financing structures. This change will provide future flexibility to incur additional leverage within prudent limits that are in the best interests of shareholders and support future portfolio growth." The reduction to Rand's minimum asset coverage ratio is being made pursuant to Section 61(a)(2) of the Investment Company Act of 1940, as amended by the Small Business Credit Availability Act. ABOUT RAND
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RAND
News
- Rand Capital Corporation (NASDAQ:RAND) Q4 2023 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Rand Capital Reports 27% Increase in Total Investment Income for 2023Business Wire
- Rand Capital Announces $0.25 per Share Cash Dividend for First Quarter 2024Business Wire
- Rand Capital Announces Fourth Quarter and Full Year 2023 Financial Results Conference Call and WebcastBusiness Wire
- Rand Capital’s Board of Directors Approves Reduction of Asset Coverage RequirementBusiness Wire
RAND
Sec Filings
- 4/1/24 - Form ARS
- 4/1/24 - Form DEF
- 4/1/24 - Form 40-17F2
- RAND's page on the SEC website