Rand Capital Corporation Announces Cari Jaroslawsky Elected to Board of Directors at Annual Shareholders’ Meeting
April 22 2022 - 8:30AM
Business Wire
Rand Capital Corporation (Nasdaq: RAND) (“Rand” or the
“Company”), a business development company, announced today Cari
Jaroslawsky was elected to the Board of Directors, replacing Allen
F. “Pete” Grum, whose directorship term expired at the Annual
Meeting of Shareholders held yesterday. With these changes, Rand’s
Board is comprised of five directors, four of whom are
independent.
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Robert M. Zak, Chair of Rand’s Board of Directors, said, “We are
pleased to welcome Cari to our Board. With her election, we have
added a new independent board member and improved the diversity of
our Board. Importantly, Cari has also enhanced our expertise with
both her significant operations knowledge as well as her SEC and
finance experience. We believe the depth and breadth of her
understanding of finance and operations will prove valuable to Rand
as we continue to expand our portfolio, grow investment income and
distribute our earnings to shareholders.”
Ms. Jaroslawsky brings over 25 years’ experience as an aerospace
engineering executive and finance expert. Also a member of the
Board of Directors of Graham Corporation (NYSE: GHM), Ms.
Jaroslawsky is currently a Senior Vice President and General
Manager for Mission Systems Division, Eaton (NYSE: ETN), where she
has financial and operational responsibility for six integrated
product teams that supply critical control solutions for
environmental and actuation systems, serving both US and foreign
markets. Previously, she served as Chief Financial Officer for
Servotronics, Inc. She began her career as an auditor at
PricewaterhouseCoopers. Ms. Jaroslawsky earned her B.S. in
accounting at the State University of New York at Oswego and is a
certified public accountant.
Also reelected at the shareholders’ meeting to serve on the Rand
Board of Directors until the next Annual Meeting were Adam S.
Gusky, Robert M. Zak, Benjamin E. Godley and Erland E.
Kailbourne.
ABOUT RAND CAPITAL
Rand Capital (Nasdaq: RAND) is an externally-managed business
development company (BDC). 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 strategy of the Company and
its outlook, the effectiveness of changes in the Board; 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)
evolving legal, regulatory and tax regimes; (2) changes in general
economic and/or industry specific conditions; and (3) 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, 2021,
quarterly reports on Form 10-Q, 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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Company: Daniel Penberthy President and CEO Phone:
716.853.0802 Email: dpenberthy@randcapital.com
Investors: Deborah K. Pawlowski Kei Advisors LLC Phone:
716.843.3908 Email: dpawlowski@keiadvisors.com
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