Rand Capital Reports $10 Million Cash Available For Investment ($1.48 Per Share) And $3.25 Net Asset Value
- One portfolio exit – Innov-X Systems, Inc. generated $7 million return over life of investment
- Rand has $10 million cash on hand (represents 46% of Net Asset Value)
- Net Asset Value is $3.25 per share for the quarter ending September 30, 2010
- One follow-on investment totaling $250,000
BUFFALO, N.Y., Nov. 5, 2010 (GLOBE NEWSWIRE) -- Rand Capital Corporation (Nasdaq:RAND) ("Rand"), a business development company (BDC) that provides capital and managerial expertise for small to medium-sized private companies, announced its financial results for the third quarter ended September 30, 2010 highlighting a net asset value of $3.25 per share, a decrease of ($0.03) from June 30, 2010. At the end of the third quarter, Rand's total investment portfolio was valued at $21.1 million, which exceeds its cost basis of $16.5 million, reflecting $4.5 million in net unrealized appreciation.
During the quarter:
- Rand made a $250,000 follow-on investment in Rheonix, Inc. (Ithaca, NY) ( www.rheonix.com ). Rheonix develops microfluidic testing devices including channels, pumps, reaction vessels, and diagnostic chambers, for testing of small volumes of chemicals and biological fluids.
- Innov-X Systems, Inc. (Woburn, MA) ( www.innovx.com ) was acquired on July 1, 2010 by Olympus NDT Corporation, (Waltham, MA) ( www.olympus-ims.com ) and will be a consolidated subsidiary of Tokyo, Japan based Olympus Corporation. Innov-X built a global business as a developer, manufacturer and supplier of portable X-ray fluorescence (XRF) analyzers that are used to determine the types and amounts of elements that make up objects.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV