- Rand Capital (NASDAQ:RAND) on Wednesday said SciAps, a portfolio company in which Rand has an equity and debt investment, is to be acquired by Spectris for consideration of up to $260M comprised of up-front consideration of $200M plus a deferred element of up to $60M payable subject to SciAps attaining certain financial metrics.
- SciAps has been in the Rand portfolio for nearly eleven years and Rand holds approximately 6% of the equity of SciAps with a cost basis of $3.1 million. Total cost of the investment was $5.2 million including the recent debt instrument.
- The portfolio company represented 8.5% of Rand’s net asset value as of March 31, 2024.
- Source: Press Release
2024-07-10