- Net Asset Value increases 4% to $3.38 per share
- Rand has $11.7 million cash on hand
- Invested $750,000 into two new portfolio companies
- Somerset Gas Transmission Company, LLC signs deal to develop pipeline for Marcellus Shale Gas
- GridApp Systems, Inc. was acquired by BMC netting Rand a $2.7 million gain
- Stock buy back approved
BUFFALO, N.Y., Feb. 15, 2011 (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 fourth quarter ended December 31, 2010 highlighting a net asset value of $3.38 per share, an increase of $0.13 from September 30, 2010. At the end of the fourth quarter, Rand's total investment portfolio was valued at $19.4 million, which exceeds its cost basis of $13.6 million, reflecting $5.8 million in net unrealized appreciation.
During the quarter:
- Rand made a $250,000 investment in Chequed.com, Inc. (Saratoga Springs, NY) ( www.chequed.com ) as part of a $1+ million convertible note financing of the business. Chequed.com has created selection tools that help human resource departments connect employee screening practices to business results, developed in partnership with The Research Foundation of The State University at New York and The University at Albany's Department of Psychology.
- Rand invested $500,000 in Liazon Corporation (Buffalo, NY) ( www.liazon.com ) as part of a $1.1 million financing with Lemhi Ventures Fund I, L.P., Ingleside Investors, LLC and management. Liazon is an employee benefits solution company who has developed and pioneered their proprietary Benefits Exchange™, the online benefits store where employees shop for their benefits with money allocated to them by their employer.
- Somerset Gas Transmission Company, LLC (Columbus, OH) ( www.somersetgas.com ), a natural gas transportation company, signs deal to develop pipeline for Marcellus Shale Gas. Somerset also operates a gas pipeline in Ohio under the name of North Coast Gas.
- GridApp Systems, Inc. (New York, NY) was acquired by BMC Software. GridApp provided database automation software that helps businesses gain control of their heterogeneous database applications through a centralized software console.
Select the service that is right for you!COMPARE ALL SERVICES
- $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
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV