Rand Capital Changes Venue for Annual Meeting of Shareholders to Virtual Only Participation

Rhea-AI Summary

Rand Capital Corporation (Nasdaq: RAND) announced that its Annual Meeting of Shareholders will be held virtually on April 22, 2021, at 10:30 a.m. Eastern Time due to COVID-19. Shareholders of record as of March 5, 2021, can participate online. The Company, a Business Development Company, aims to maximize returns through investments in lower middle market companies. Rand emphasizes the importance of proxy voting in advance of the meeting.

Positive

• Rand Capital aims to maximize total return to shareholders through strategic investments.
• The company focuses on a diverse range of privately-held lower middle market companies with strong management teams.

Negative

• Transition to a virtual meeting may limit shareholder engagement and participation.
• Dependence on external management might raise concerns over control and decision-making.

Rand Capital Corporation (Nasdaq: RAND) (“Rand” or “Rand Capital” or the “Company”), a business development company, today announced that due to the ongoing impact of the COVID-19 virus, it is converting its Annual Meeting of Shareholders to be held on Thursday, April 22, 2021 at 10:30 a.m. Eastern Time to virtual only participation.

Shareholders as of the close of business on March 5, 2021, which is the record date for the Annual Meeting, can attend the meeting virtually via www.virtualshareholdermeeting.com/RAND2021. Shareholders are encouraged to go to the website link 15 minutes prior to the start of the Annual Meeting to register. Whether or not a shareholder plans to attend the Annual Meeting by virtual means, Rand urges its shareholders to vote and submit their proxy in advance of the Annual Meeting by one of the methods described in the proxy statement.

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 (“RCM”). Additional information can be found at the Company’s website where it regularly posts information: https://www.randcapital.com/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210406005350/en/

FAQ

When is Rand Capital's Annual Meeting of Shareholders?

Rand Capital's Annual Meeting of Shareholders is scheduled for April 22, 2021.

How can shareholders attend the Rand Capital Annual Meeting?

Shareholders can attend the Rand Capital Annual Meeting virtually via the link provided in the press release.

What is the significance of March 5, 2021, for Rand Capital shareholders?

March 5, 2021, is the record date for shareholders eligible to attend the Annual Meeting.

What type of companies does Rand Capital invest in?

Rand Capital invests in privately-held, lower middle market companies with at least $2 million in revenue and a path to free cash flow.