Brief: Rand Capital signs agreement for sale of Gemcor

Rand Capital

05/01/2016 18:32

Jan 5 (Reuters) - Rand Capital Corp  RAND.O : 
 * Signs agreement for sale of its largest portfolio company, gemcor 
 * Transaction is anticipated to close in the first quarter of 2016 
 * Expects to receive gross cash proceeds of approximately $14 million upon the 
   completion of the gemcor sale 
 * Unit, Rand Capital SBIC, inc., has entered into an asset purchase agreement 
under which it has agreed to the sale of gemcor II, LLC 
 
 * Source text for Eikon  ID:nMKWJxkFya  
 * Further company coverage  RAND.O   
 
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