Renren Inc. (NYSE:RENN)
Industry: Technology
Renaissance Capital Growth & Income Fund III, Inc. (the Fund), incorporated on January 20, 1994, is a non-diversified closed-end investment company and has elected to be treated as a business development company under the Investment Company Act of 1940, as amended. The investment objective of the Fund is to provide its shareholders with current income and long-term capital appreciation by investing primarily in privately placed securities of small public companies (Portfolio Companies). Renaissance Capital Group, Inc. serves as the investment adviser to the Fund. In this capacity, Renaissance Group is primarily responsible for the selection, evaluation, structure, valuation and administration of the Fund's investment portfolio. The Fund generally invests in privately placed preferred stock or debentures of a Portfolio Company, which securities typically are convertible into or exchangeable for common stock of the Portfolio Company. While such common stock of the Portfolio Company may be publicly traded, the common stock acquired by the Fund is often unregistered. Therefore, such securities are restricted from distribution or sale to the public, except in compliance with certain holding periods and exemptions under the Securities Act of 1933, as amended (the Securities Act), or after registration pursuant to the Securities Act. The Fund also purchases shares of small and micro cap issuers in the secondary markets. These shares are freely tradeable and have no restrictions on resale. From inception through December 31, 2002, the Fund had made investments in 46 different portfolio companies. The Fund had active investments in 29 portfolio companies, as of December 31, 2002, and is seeking additional investment opportunities. The Fund does not focus on particular industry segments. Instead, it makes investment decisions using a bottoms-up analysis of the potential Portfolio Company, with no predetermined industry bias. As of December 31, 2002, the Fund had active investments in a number of Portfolio Companies, including AirNet Systems, Inc., Bentley Pharmaceuticals, Inc., Business Process Outsourcing, CaminoSoft Corporation, Canterbury Consulting Group, Capital Senior Living Corp., CareerEngine Network, Inc., Creative Host Services, Inc., Daisytek International, Inc., US Home Systems and Verso Technologies, Inc. The Company also has active investments in Active Link Communications, Inc., Dave & Busters, Inc., Dexterity Surgical, Inc., Dwyer Group, Inc., EDT Learning, Inc., eOriginal, Inc., Fortune Natural Resources Corporation, Gasco Energy, Inc., I-Flow Corporation, Inet Technologies, Integrated Security Systems, Inc., Interpool, Inc., JAKKS Pacific, Inc., Laserscope, Play By Play Toys & Novelties, Inc., Poore Brothers, Inc., Precis, Inc., RailAmerica, Inc., Simtek Corporation and ThermoView Industries, Inc. AirNet Systems Inc. operates AirNet Express, an integrated national air transportation network that provides expedited air transportation and passenger charter services to banks, medical customers, the United States government and other time-critical small package shippers in more than 100 cities nationwide. The AirNet airline has more than 120 aircraft, including 36 Learjets, located strategically throughout the United States. AirNet Express flies over half a million miles per week. AirNet's fleet departs most cities several hours after other major package delivery companies. Bentley Pharmaceuticals, Inc. is an international pharmaceutical company focused on improving drugs through new drug delivery technologies, and commercializing such drugs in the United States and other major markets. Bentley also manufactures and markets pharmaceutical products in Spain for the treatment of cardiovascular, gastrointestinal, neurological, infectious and other diseases. Business Process Outsourcing is a privately held business process outsourcing firm that specializes in finance and accounting services, other administrative functions and high-volume transaction processing services. The Company's servic
As Of: 04/25 16:23 ET
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