New Issue: Rand Capital secures $3.76 million in private placement of common stock

By Devika Patel

Knoxville, Tenn., Sept. 4 - Rand Capital Corp. settled a second and final tranche of a $3.76 million private placement of shares for $2.54 million on Sept. 4, according to an 8-K filed Friday with the Securities and Exchange Commission.

Rand raised $1.23 million on Aug. 12.

The company sold 358,398 common shares in the first tranche at $3.42 per share. It sold 741,602 shares in this one.

Rand Capital is a venture capital investment company in Buffalo, N.Y.

Issuer:	Rand Capital Corp.
Issue:	Common shares
Amount:	$3,762,000
Shares:	1.1 million
Price:	$3.42
Warrants:	No
Settlement date:	Aug. 12 (for $1,225,721), Sept. 4 (for $2,536,279)
Stock symbol:	Nasdaq: RAND
Stock price:	$3.2601 at close Aug. 12
Market capitalization:	$21.4 million

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