Rand Capital Announces Third Quarter Net Asset Value of $3.50 and One Follow-On Investment

Rand Capital Corporation

announced its financial results for the third quarter ended September 30, 2011, highlighting a strong Balance Sheet with $4.5 million in cash, $4 million in outstanding debt and $27.8 million in assets. The investment firm also reported an ending net asset value of $3.50 per share for the quarter, a $0.15 increase (4%) from June 30, 2011. At the end of the third quarter, Rand's total investment portfolio was valued at $21.7 million, which exceeds its cost basis of $12.2 million, reflecting $9.5 million in net unrealized appreciation.