Rand Capital Sends Shareholder Notice for Dividend Election

On December 17, 2024, Rand Capital Corporation (NASDAQ:RAND) initiated the distribution process for its upcoming dividend. Shareholders of record as of December 16, 2024, will be receiving a notice regarding their election options related to the dividend declared on December 5, 2024, and set to be paid on January 24, 2025. The company has sent out a “Shareholder Notice,” accompanied by a “Dividend Election Form,” giving shareholders the choice of receiving the dividend in cash or in the form of common stock of Rand Capital Corporation.

It’s important to note that the information shared in this Current Report on Form 8-K, inclusive of the Shareholder Notice and Election Form, is not treated as a filed document under Section 18 of the Securities Exchange Act of 1934, nor is it subject to the liabilities specified in that section. Additionally, this information will not be integrated by reference into any registration statement as per the Securities Act of 1933.

The dividend election form must be returned to Continental Stock Transfer & Trust Company by 5:00 P.M. Eastern Time on January 7, 2025, for shareholders’ decisions to be accounted for accurately. Shareholders who do not submit the form within the specified timeframe will automatically be considered to have chosen to receive the dividend in cash, subject to pro-ration if the total cash elected surpasses the 20% cash limitation.

Pending the combined elections of all shareholders, the actual dividend distribution may differ from the choice made on the Election Form. The proportion of shares or cash received will rely on the pro-rata allocation determined by the collective elections. The dividend’s terms and conditions, along with the instructions for making an election, are clearly outlined in the accompanying notice sent to shareholders.

The respective options outlined in the Dividend Election Form include choosing either an all-cash election or an all-stock election, with the number of shares held by shareholders as of the record date playing a crucial role in the final allocation of the dividend. It is essential that shareholders carefully read the notice and follow the instructions provided to ensure their election is properly submitted and accounted for by the specified deadline.

Rand Capital Corporation will be closely monitoring the responses to the dividend election forms and will continue to provide updates to shareholders as necessary.

This Form 8-K filing concludes with the proper signatures denoting the regulatory compliance of the report, signed on behalf of the company by Chief Executive Officer, Daniel Penberthy, on December 17, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Rand Capital’s 8K filing here.

About Rand Capital

Rand Capital Corporation is a business development company specializing in subordinated debt with warrants or preferred equity and venture capital investments. Within private equity, the firm specializing in capital growth and lower middle market investments. Within venture capital, it specializing in early to late-stage private businesses.