- Net Asset Value is $3.30 per share for the quarter ending March 31, 2010
- Four follow-on investments totaling $1,055,000
- Rand made a follow-on investment of $250,000 in Rheonix, Inc. (Ithaca, NY) (www.rheonix.com). Rheonix is a spin-off of Kionix, Inc. (Ithaca, NY) (www.kionix.com) and has developed a patented CARDTM (Chemistry and Reagent Device) microfluidic diagnostic platform for simultaneous assay testing of small volumes of chemicals and biological fluids. Rheonix recently announced the completion of a $12.6 million Series A financing.
- Also during the quarter, Rand made a $125,000 follow-on investment in Microcision LLC (Philadelphia, PA) (www.microcision.com). Microcision is a manufacturer of custom medical and dental implants (www.aetonmed.com) including precision machined components, implants and assemblies. Aeton has developed a proprietary line of dental ST abutments, flathead drills, healing caps and other unique products for the dental implant market.
- A $200,000 investment in Niagara Dispensing Technologies, Inc. (Amherst, NY) (www.niagaradispensing.com). Niagara Dispensing is a beverage dispensing technology products manufacturer specializing in rapid pour beer dispensing systems for high volume stadium and concession operations. Their Exactap and Exactpour products are revolutionizing draught beer dispensing and are in use worldwide.
- A $480,000 follow-on investment in GridApp Systems, Inc. (New York, NY) (www.gridapp.com). GridApp Systems is a leading provider of database automation solutions including database patching, compliance, Oracle provisioning, that help businesses gain control of their heterogeneous database environment, utilizing their proprietary Clarity software.
ABOUT RAND CAPITALRand Capital is a publicly held Business Development Company (BDC), and its wholly owned subsidiary is licensed by the Small Business Administration (SBA) as a Small Business Investment Company (SBIC). Rand and its subsidiaries provide capital and managerial expertise to small and medium sized private companies that lack sufficient channels to the capital markets. Rand is traded on the NASDAQ under the symbol "RAND". Rand is headquartered in Buffalo, NY. www.randcapital.com
CONTACT: Rand Capital Corporation Investor Contact: Allen F. Grum, President 716.853.0802 firstname.lastname@example.org