Great Elm Capital. Corp. - GECC STOCK NEWS

Great Elm Capital Corp. (NASDAQ: GECC) announced it will release its third quarter 2024 financial results before market opening on Thursday, October 31, 2024. The company will host a conference call at 8:30 a.m. ET to discuss the results. Participants can join via phone using dial-in numbers (877) 407-0789 (US) or (201) 689-8562 (International) with passcode 'GECC'. A slide presentation will be available on GECC's website, and the call will be simultaneously webcast through the company's Events and Presentations section.

Great Elm Capital Corp. (GECC) has announced a conditional redemption of its 6.75% Notes due 2025. The redemption is set for October 12, 2024, contingent on the successful closing of GECC's public offering of 8.125% Notes due 2029. The 2025 Notes will be redeemed at 100% of their principal amount, plus accrued and unpaid interest from September 30, 2024, through the Redemption Date.

GECC reserves the right to delay the Redemption Date or cancel the redemption if the 2029 Notes Offering is not completed as planned. This move suggests GECC is restructuring its debt, potentially to take advantage of more favorable terms or to extend its debt maturity profile.

Great Elm Capital Corp. (NASDAQ: GECC) has priced a public offering of $36 million in 8.125% notes due 2029. The offering is expected to yield net proceeds of approximately $34.4 million after expenses. The notes will mature on December 31, 2029, with an option for early redemption from December 31, 2026. GECC has granted underwriters a 30-day option to purchase up to an additional $5.4 million in notes to cover over-allotments. The notes are expected to be listed on The Nasdaq Global Market under the symbol 'GECCH' within 30 days of issuance. GECC plans to use the net proceeds, along with cash on hand, to redeem all outstanding 6.75% unsecured notes due 2025. The offering is subject to customary closing conditions, with delivery expected around September 19, 2024.

Great Elm Capital Corp. (GECC) announced the launch of an underwritten public offering of unsecured notes due 2029. The notes, expected to trade under the NASDAQ symbol GECCH, will have an interest rate determined through negotiations. The net proceeds will be used along with cash to redeem 6.75% unsecured notes due 2025. Lucid Capital Markets, Janney Montgomery Scott, and Piper Sandler are joint book-running managers, while Clear Street, InspereX, and Ladenburg Thalmann are co-managers. Investors can obtain a prospectus from Lucid Capital Markets. The press release emphasizes careful consideration of investment objectives, risks, and charges before investing. The offering is subject to SEC approval and is not yet effective.

Great Elm Capital Corp. (NASDAQ: GECC) announced its Q2 2024 financial results. Key highlights include:

• Raised $12 million of equity at NAV in June
• Issued $34.5 million of 8.50% notes due 2029 in April
• Net investment income of $3.1 million ($0.32 per share)
• Net assets of $126.0 million ($12.06 per share)
• Asset coverage ratio of 171.0%
• Approved quarterly dividend of $0.35 per share

GECC raised an additional $34 million in June and July, bringing total 2024 capital raising to over $90 million. The company's investments in CLOs are beginning to yield returns, with the first distribution received in July. Management remains focused on growing the platform and covering the dividend.

Great Elm Capital Corp. (NASDAQ: GECC), a business development company, has announced its schedule for the release of second quarter 2024 financial results and subsequent conference call. The earnings release is set for Thursday, August 1, 2024, after market close. A conference call to discuss the results will follow at 5:00 p.m. ET on the same day.

Participants can join the call using the following dial-in numbers:

• United States: (877) 407-0789
• International: (201) 689-8562

Great Elm Capital Corp. (NASDAQ: GECC) has issued $22 million of additional 8.50% notes due 2029 (GECCI Notes) in a registered direct offering to an institutional investor.

This follows a $12 million equity raise at NAV last month, aimed at optimizing their weighted average cost of capital. CEO Matt Kaplan emphasized that attracting capital from institutional partners highlights the strength of GECC's platform.

Great Elm Capital Corp. (GECC) has raised $12 million through the issuance of approximately 1.0 million shares of common stock at a net asset value of $12.03 per share to Prosper Peak Holdings. The parent company, Great Elm Group (GEG), invested $3 million in Prosper Peak Holdings, aligning its interests with GECC shareholders.

This latest funding brings GECC's total non-dilutive equity raised this year to $38 million. CEO Matt Kaplan highlighted the company's growth, noting a nearly 80% increase in gross net asset value since March 2022. GEG's CEO, Jason Reese, emphasized the group's commitment to expanding its credit platform through this investment.

Great Elm Capital Corp. announced its first quarter 2024 financial results, with NII of $3.2 million, NAV at $118.8 million, and asset coverage ratio at 180.2%. They raised $24 million in equity, issued $34.5 million in notes, and approved a $0.35 dividend per share. GECC aims to cover the dividend with NII and deploy capital for new investments.