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 scheduled a conference call on May 11, 2022, at 11:30 a.m. ET, to discuss its financial results for the first quarter ended March 31, 2022. The earnings release will occur prior to market opening on the same day. Dial-in participants should connect five minutes early, using the passcode 'GECC'. The call will be available via webcast and an accompanying slide presentation will be accessible on the company’s Investor Relations website. GECC focuses on investing in debt and income-generating equity securities.
Great Elm Capital Corp. (GECC) announced the appointment of Chad Perry to its Board of Directors, alongside recent additions Matthew Drapkin and Richard Cohen. These changes aim to strengthen leadership and support the company's strategic growth objectives. CEO Matt Kaplan expressed enthusiasm over Perry's diverse experience, which includes roles at Tanger Outlets and LPL Financial Corporation. Perry will serve on various committees, enhancing the Board's governance capabilities.
Great Elm Capital Corp. (GECC) announced the launch of a new joint venture, Great Elm Utica (GEU), in collaboration with Utica Leaseco. This partnership focuses on equipment financing transactions, enhancing GECC's capabilities in providing tailored financing solutions for small and mid-sized businesses. Founded in 2005, Utica specializes in equipment financing for credit-challenged companies. The venture is pending approval from Utica’s senior lender. Management expressed optimism about the growth potential and access to capital that this collaboration brings.
Great Elm Capital Corp. (GECC) announced a non-transferable rights offering to raise $50 million, allowing existing stockholders to purchase shares on a pro-rata basis. The offering will be executed under a registration statement filed with the SEC, with specific details such as record date and subscription price to be determined later. Participating stockholders plan to fully exercise their rights and over-subscribe. Proceeds will be used for investments in specialty finance businesses. The rights are non-tradable and the offering is subject to market conditions.
Great Elm Capital Corp. (NASDAQ: GECC) announced enhancements to its board of directors, including the appointment of Matthew Drapkin as Chairman and Richard Cohen as a board member effective March 4, 2022. The company emphasized the board's diverse financial expertise, which aims to support GECC's growth objectives. Additionally, Matt Kaplan has been appointed as the new CEO, taking over from Peter Reed. The leadership changes are part of GECC's focus on portfolio performance and shareholder value.
Great Elm Capital Corp. (GECC) announced the resignation of CEO Peter Reed and the appointment of Matt Kaplan as the new CEO, effective immediately. Kaplan, previously a Portfolio Manager at Great Elm Capital Management since October 2020, has experience in credit investing and managing a repositioned portfolio focused on income-generating investments. The Board has also appointed Matthew Drapkin as Chairman and Richard Cohen as Audit Chair. GECC aims to enhance shareholder value by pursuing opportunities within leveraged credit and specialty finance.
Great Elm Capital Corp. (GECC) reported its fourth-quarter and full-year financial results for 2021, highlighting a net investment income of $7.1 million or $1.58 per share. The company experienced net unrealized losses of approximately ($23.6 million), primarily due to investments in Avanti. GECC successfully acquired Sterling Commercial Credit, enhancing its position in specialty finance. The Board approved a dividend of $0.45 per share for the second quarter of 2022, representing a 10.8% yield on NAV. The company underwent leadership changes, appointing Matt Kaplan as CEO and new board members.
Great Elm Capital Corp. (NASDAQ: GECC) announced a conference call on March 4, 2022, at 11:00 a.m. ET to discuss its financial results for Q4 and the full year ending December 31, 2021. The results will be released prior to the stock market opening on the same day. Interested participants can join the call by dialing (844) 820-8297 for U.S. and (661) 378-9758 for international access.
Great Elm Capital Corp. focuses on generating income and capital appreciation through debt and equity investments in specialty finance businesses.
Great Elm Capital Corp. (GECC) has acquired a majority equity interest in Sterling Commercial Credit, LLC for $7.54 million, comprising $4.94 million in cash and $2.60 million in GECC shares. This acquisition enhances GECC’s specialty finance platform, enabling the offering of asset-based loans to middle-market companies across the U.S. Sterling, established in 2004, will leverage this transaction to expand its lending products. CEO Edwin Small will continue to lead Sterling, with Michael Keller appointed as Chairman. The acquisition aims to provide greater capital solutions and foster growth.
Great Elm Capital Corp. (GECC) announced a 6-for-1 reverse stock split, effective February 28, 2022. This means that every six shares of the Company's common stock will be consolidated into one share. Fractional shares will be redeemed for cash at the market price prior to the effective date. The move is part of the company's strategy to enhance shareholder value and improve its stock price.
GECC, a business development company, aims to generate both current income and capital appreciation through debt and equity investments.
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