Courtesy of Benzinga.
Rand Capital (NASDAQ: RAND) (www.randcapital.com ) announced that through September 24, 2012 the Corporation has repurchased 75,742 of its securities on the open market at an average price of $2.56 per share. Allen F. Grum, Rand’s President, had previously stated, “At present our shares continue to trade at a substantial discount to our NAV and we continue to evaluate our stock repurchase program; this program allows Rand to repurchase up to 340,047 shares through October 28th,, 2012.” He continued, “When the underlying value of Rand’s investments is greater than the market price of the stock, repurchases will enhance the per share value of Rand shares.” The Corporation also announced that during the second quarter it has sold 50,000 shares of Synacor (www.synacor.com ). These shares had a
