Welcome to our dedicated page for Great Elm Capital. news (Ticker: GECC), a resource for investors and traders seeking the latest updates and insights on Great Elm Capital. stock.
Great Elm Capital Corp. (NASDAQ: GECC) is a specialty finance company focused on investing in the debt instruments of middle market companies. The company has elected to be regulated as a Business Development Company (BDC) under the Investment Company Act of 1940, as amended. GECC is externally managed by Great Elm Capital Management (GECM), whose investment team boasts over 100 years of combined experience in financing and investing in leveraged middle market companies.
GECC's investment objective is to generate both current income and capital appreciation, while seeking to protect against the risk of permanent capital loss. To achieve this, the company invests predominantly in the debt securities of middle market companies, including senior secured and unsecured debt, junior loans, and mezzanine debt. In addition, GECC invests in specialty finance businesses and other income-generating equity securities.
Under the leadership of CEO Peter A. Reed, GECC has an extensive history dating back to its team's experience under Mast Capital Management, LLC, where they deployed over $17 billion in investments across more than 550 issuers in 20+ jurisdictions. This extensive track record showcases the team's deep expertise and strategic acumen in the financial sector.
GECC's revenue generation primarily comes from the interest on its debt investments. The company continuously evaluates new investment opportunities to enhance its portfolio, aiming to achieve a balanced mix of income and growth while managing risks effectively.
Recent achievements include scheduled conference calls and webcasts to discuss quarterly financial results and strategic initiatives. GECC has also declared its first quarter 2024 distribution of $0.35 per share, reflecting its commitment to returning value to shareholders.
For further details and the latest updates, investors and stakeholders are encouraged to visit GECC's Investor Relations section or contact their Investor Relations department at investorrelations@greatelmcap.com.
Great Elm Capital Corp. (GECC) has launched Great Elm Healthcare Finance (GEHF) in partnership with Berkadia, targeting US healthcare sector funding. Led by industry veteran Michael Gervais as CEO, GEHF aims to provide capital for working capital, refinancing, acquisition, and recapitalization across various healthcare facilities. This venture, leveraging GECC's existing infrastructure and Berkadia's expertise, promises to capitalize on growing investment opportunities in healthcare. The management team boasts over 30 years of combined experience in healthcare finance.
Great Elm Capital Corp. (GECC) announced its third-quarter financial results for 2022, reporting a net investment income (NII) of $1.1 million, or $0.14 per share. The company experienced a decline in net assets to $95.5 million from $97.6 million in the previous quarter. NAV per share also fell to $12.56 from $12.84. The board approved a $0.45 quarterly dividend for Q4 2022, yielding 14.3% based on September's NAV. The formation of Great Elm Healthcare Finance was highlighted as a key development, aiming to support healthcare-related businesses.
Great Elm Capital Corp. (GECC) will release its Q3 financial results on November 3, 2022, prior to market opening. A conference call will follow at 11:00 a.m. ET for discussing these results. Investors can access the call by dialing (877) 407-0789 in the U.S. or (201) 689-8562 internationally. The presentation will be available online after the earnings release. GECC focuses on generating current income and capital appreciation through investments in debt and equity securities within specialty finance.
Harvey Friedman will retire after 18 years as Chief Operating Officer and Chief Credit Officer at Lenders Funding, transitioning to Vice Chairman Emeritus. His tenure significantly enhanced the company's growth in the specialty finance sector. Replacing him is John Benkovich, formerly President of Millennium Funding, who brings over 25 years of industry experience. Great Elm Capital Corp., Lenders Funding's parent company, expressed gratitude for Friedman's contributions while anticipating Benkovich's leadership in executing growth strategies.
Great Elm Capital Corp. (GECC) announced its Q2 2022 financial results, reporting a net investment income of $1.2 million ($0.23 per share) and a significant increase in net assets to $97.6 million from $69.3 million in Q1 2022. The company completed a rights offering, raising $37.5 million by selling 3 million shares. NAV per share decreased to $12.84 from $15.06 in Q1 2022. GECC approved a quarterly dividend of $0.45 per share, yielding 14.0% based on June 30, 2022 NAV. The company has a robust asset coverage ratio of 166.9% and is focused on specialty finance investment opportunities.
Great Elm Capital Corp. (GECC) will announce its financial results for Q2 2022 on August 4, 2022, before the market opens, followed by a conference call at 11:00 a.m. ET. Investors can participate via dial-in or webcast. The company focuses on generating income and capital appreciation through investments in debt and equity securities within specialty finance. Details for the call and the presentation will be available in the Investor Relations section of their website.
Great Elm Capital Corp. (GECC) completed a non-transferable rights offering, selling approximately 3 million shares at a subscription price of $12.50 per share, generating about $37.5 million in gross proceeds. The offering concluded on June 10, 2022. The funds will be primarily used for opportunistic investments in specialty finance businesses and general corporate purposes. CEO Matt Kaplan expressed gratitude for shareholder support, emphasizing that the additional capital would help execute the company's growth strategy and take advantage of market opportunities.
Great Elm Capital Corp. (GECC) announced that its 2022 Annual Stockholders' Meeting is scheduled for August 1, 2022. Stockholders of record as of June 20, 2022, will receive details through the notice and proxy statement around July 1, 2022. GECC is a business development company focused on generating income and capital appreciation by investing in debt and equity securities, particularly in specialty finance businesses.
Great Elm Capital Corp. (GECC) announced a non-transferable rights offering to stockholders, allowing them to purchase up to 4,601,391 shares of common stock at a subscription price of $12.50 per share. The offering is open from May 26, 2022, to June 10, 2022. Proceeds will be used for opportunistic investments in specialty finance and general corporate purposes. Great Elm Group intends to invest at least $12.5 million in this offering. The rights are non-transferable and will not be listed for trading.
Great Elm Capital Corp. (GECC) reported its financial results for Q1 2022, revealing a net investment income of $6.0 million ($1.31 per share), aided by a $4.9 million fee waiver. However, net assets dropped to $69.3 million from $74.6 million in Q4 2021. The NAV per share decreased to $15.06 from $16.63. GECC's asset coverage ratio was approximately 147.5%. The company plans to distribute a quarterly dividend of $0.45 per share, representing a 12.0% yield based on NAV. The quarter saw investments totaling $199.4 million, focusing on yielding assets.
FAQ
What is the current stock price of Great Elm Capital. (GECC)?
What is the market cap of Great Elm Capital. (GECC)?
What is Great Elm Capital Corp.'s primary business?
Who manages Great Elm Capital Corp.?
What is the investment objective of GECC?
What types of investments does GECC make?
Who is the CEO of GECC?
How does GECC generate revenue?
What recent financial achievements has GECC announced?
How can investors get more information about GECC?
