Current Report Filing (8-k)
04 November 2021 - 7:16AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT PURSUANT TO
SECTION
13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported): November 2, 2021
Rand
Capital Corporation
(Exact
name of registrant as specified in its charter)
New
York
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814-00235
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16-0961359
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(State
or Other Jurisdiction
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(Commission
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(IRS
Employer
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of
Incorporation)
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File
Number)
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Identification
No.)
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1405
Rand Building, Buffalo, New York
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14203
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(Address
of Principal Executive Offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code: (716) 853-0802
Not
Applicable
(Former
name or former address, if changed since last report.)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐
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Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
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Trading
Symbol(s)
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Name
of each exchange on which
registered
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Common
Stock, $0.10 par value
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RAND
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Nasdaq
Capital Market
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Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR
§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
2.04. Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.
On
November 2, 2021, Rand Capital SBIC, Inc. (the “Company”), a wholly-owned subsidiary of Rand Capital Corporation, that is
licensed to operate as a small business investment company (“SBIC”) by the U.S. Small Business Administration (the “SBA”),
repaid all of its outstanding SBA-guaranteed debentures plus interest accrued through March 1, 2022 in an aggregate amount of $11.2 million.
Concurrent with the Company’s repayment of the outstanding SBA-guaranteed debentures, the Company notified the SBA of its intention
to surrender its license to operate as an SBIC under the Small Business Investment Act of 1958, as amended. Following the repayment of
the SBA-guaranteed debentures and the SBA’s acceptance of the Company’s SBIC license surrender, the Company will cease operations
as an SBIC, which also terminates the availability of the $3,000,000 of additional available SBA-guaranteed debentures.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
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Rand
Capital Corporation
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Date:
November 3, 2021
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By:
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/s/
Daniel Penberthy
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Daniel
Penberthy
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Executive
Vice President, Chief Financial Officer, Treasurer and Secretary
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