Rand Capital Corporation to Ring the Closing Bell Today to Celebrate 50 Years on Nasdaq
May 21 2021 - 10:17AM
Business Wire
Rand Capital Corporation (Nasdaq: RAND), a business development
company (“BDC”), announced that President and Chief Executive
Officer Allen F. (“Pete”) Grum will ring the Nasdaq closing bell
today at 4:00 p.m. ET in celebration of 50 years of trading on the
Nasdaq Stock Market.
“We are excited to celebrate this important milestone in our
corporate history,” commented Mr. Grum. “This period also marks an
important step in our transformation into an income-producing,
dividend paying BDC. We believe we can continue to execute on our
strategic plan with regular quarterly dividend payments.”
The ceremony will begin at approximately 3:45 p.m. ET today and
can be viewed live at
https://www.nasdaq.com/marketsite/bell-ringing-ceremony.
ABOUT RAND CAPITAL
Rand Capital (Nasdaq: RAND) is an externally managed Business
Development Company (BDC) with a wholly owned subsidiary licensed
by the U.S. Small Business Administration (SBA) as a Small Business
Investment Company (SBIC). The Company’s investment objective is to
maximize total return to its shareholders with current income and
capital appreciation by focusing its debt and related equity
investments in privately-held, lower middle market companies with
committed and experienced managements in a broad variety of
industries. Rand invests in early to later stage businesses that
have sustainable, differentiated and market-proven products,
revenue of more than $2 million and a path to free cash flow or up
to $5 million in EBITDA. The Company’s investment activities are
managed by its external investment adviser, Rand Capital
Management, LLC. Additional information can be found at the
Company’s website where it regularly posts information:
https://www.randcapital.com/.
Safe Harbor Statement
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements, other than historical facts, including but
not limited to statements regarding the effectiveness of Rand’s new
investment strategy, the success of increasing interest income with
new investments, the capital return potential of Rand’s equity
investments, the competitive ability and position of Rand; and any
assumptions underlying any of the foregoing, are forward-looking
statements. Forward-looking statements concern future circumstances
and results and other statements that are not historical facts and
are sometimes identified by the words “may,” “will,” “should,”
“potential,” “intend,” “expect,” “endeavor,” “seek,” “anticipate,”
“estimate,” “overestimate,” “underestimate,” “believe,” “could,”
“project,” “predict,” “continue,” “target” or other similar words
or expressions. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove to be
incorrect, actual results may vary materially from those indicated
or anticipated by such forward-looking statements. The inclusion of
such statements should not be regarded as a representation that
such plans, estimates or expectations will be achieved. Important
factors that could cause actual results to differ materially from
such plans, estimates or expectations include, among others, (1)
the risk that Rand and/or Rand SBIC may be unable to fulfill the
conditions required in order to elect to be treated as a RIC for
U.S. tax purposes; (2) evolving legal, regulatory and tax regimes;
(3) changes in general economic and/or industry specific
conditions; and (4) other risk factors as detailed from time to
time in Rand’s reports filed with the Securities and Exchange
Commission (“SEC”), including Rand’s annual report on Form 10-K for
the year ended December 31, 2020, quarterly reports on Form 10-Q,
the definitive proxy statement and other documents filed with the
SEC. Consequently, such forward-looking statements should be
regarded as Rand’s current plans, estimates and beliefs. Except as
required by applicable law, Rand assumes no obligation to update
the forward-looking information contained in this release.
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version on businesswire.com: https://www.businesswire.com/news/home/20210521005022/en/
Company: Allen F. ("Pete") Grum President and CEO Phone:
716.853.0802 Email: pgrum@randcapital.com
Investors: Deborah K. Pawlowski Kei Advisors LLC Phone:
716.843.3908 Email: dpawlowski@keiadvisors.com
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