|Over a month ago|
Rand Capital confirms 1-for-9 reverse stock split » 08:5705/2105/21/20
Rand Capital confirmed…
Rand Capital confirmed that it is proceeding with its previously announced 1-for-9 reverse stock split of the Company's common stock. The reverse split will be effective at 5:00 p.m. Eastern Time, and the Company's common stock will begin trading on a split-adjusted basis on the Nasdaq Stock Market as of the market open on May 22.
|Over a quarter ago|
Fly Intel: After Hours Movers » 18:2803/1903/19/20
CRWD, SCHL, RAND, UAL, OLLI, TSLA, KSS, BBBY, YELP
UP AFTER EARNINGS:…
UP AFTER EARNINGS: Crowdstrike (CRWD) up 19.9%... Scholastic (SCHL) up 1.8%. ALSO HIGHER: Rand Capital (RAND) up 154% after announcing its Rheonix developing COVID-19 assay... United Airlines (UAL) up 3.4% after Apollo reportedly buys part of UA's loan. DOWN AFTER EARNINGS: Ollie's Bargain (OLLI) down 7.4%. ALSO LOWER: Tesla (TSLA) down 5.7% after suspending production at Fremont... Kohls (KSS) down 3.1% after withdrawing guidance, closing stores... Bed Bath Beyond (BBBY) down 2.0% after announcing over 50% of all stores closing... Yelp (YELP) down 1.3% after withdrawing guidance. Movers as of 18:15ET.
Rand Capital's portfolio company Rheonix developing COVID-19 assay » 16:1703/1903/19/20
Rand Capital announced…
Rand Capital announced that its portfolio company, Rheonix Inc. is developing a coronavirus test kit for use on its Encompass MDx workstation. Upon Rheonix's receipt of emergency use authorization from the FDA, the new test will allow for the fully automated detection of SARS-CoV-2 in respiratory specimens, facilitating testing at small and medium-sized labs in distributed locations. The Rheonix system is a fully automated, sample-to-answer microfluidic system that provides test results in four hours and requires no technician involvement after the sample is loaded. The workstation automatically introduces clinical specimens directly from their barcoded collection tubes into the wells of the microfluidic Rheonix CARD cartridges, and processes all virus detection reactions on the cartridge within the closed workstation. Once the test is completed, all biological waste remains enclosed in the disposable cartridge and is destroyed. The fully enclosed, self-contained workstation and cartridge system eliminate the technician's need to handle the sample and reduce the possibility for spread of the highly communicable virus.
Rand Capital announces special dividend of $1.62 » 16:3103/0303/03/20
Rand Capital has declared…
Rand Capital has declared a special dividend of $23.7M, or approximately $1.62 per share, in connection with its plans to elect to become a regulated investment company for U.S. federal tax purposes beginning with tax year 2020. The special dividend will be paid in a combination of cash and shares of the company's common stock to shareholders of record at the close of business on April 2, 2020.
Rand Capital announces sale of stake in Microcision for $1.5M » 09:1601/2201/22/20
Rand Capital announced…
Rand Capital announced the sale of its equity interest in one of its portfolio companies, Microcision LLC. The sale, which closed on December 31, 2019, resulted in Rand's proceeds of $1.5M, realizing a pre-tax gain of $1.5M on its cost basis. Additionally, Microcision repaid approximately $453,000 of principal to Rand, reducing the balance of its subordinated note to $1.5M. In January, Rand restated the subordinated note to an 11% interest rate and a five year maturity, and received a warrant for 5% of Microcision's equity.
Rand Capital's OnCore Golf to build sports entertainment complex » 16:1709/2609/26/19
Rand Capital Corporation…
Rand Capital Corporation announced that one of its portfolio companies, OnCore Golf Technology, Inc. plans to build a first-of-its-kind year-round sports entertainment complex, including a fully-integrated hotel in Buffalo, NY. The seven-acre OnCore Buffalo facility will bring exciting new golf and other sports experiences to downtown Buffalo's waterfront when it opens in 2021. OnCore reports that it has the financing package in place with several local strategic and financial supporters for the estimated $30M project. "We're very excited to be able to bring this kind of golf and sports entertainment experience to an urban setting - the result of engineering and technology innovations that have been years in the making," said OnCore Golf co-founder Keith Blakely. "In doing so, we hope to elevate interest in golf amongst a broad demographic as well as to enable partnerships with other sports organizations who have similar goals. We envision other sports experiences, from virtual baseball, basketball and hockey to a possible indoor wave machine for surfing. We believe this planned complex sets a revolutionary standard that we can replicate in other urban areas."