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 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.
Great Elm Capital Corp. (GECC) announced a fourth quarter 2021 cash distribution of $0.10 per share, payable on December 30, 2021. The record date for stockholders is December 15, 2021. GECC, a business development company, focuses on generating current income and capital appreciation through strategic investments, including in specialty finance businesses. The company cautions that forward-looking statements may involve risks and uncertainties, specifically related to credit market conditions and the economic impact of the COVID-19 pandemic.
Great Elm Specialty Finance, a subsidiary of Great Elm Capital Corp. (GECC), has appointed Michael P. Keller to lead its private direct lending efforts, particularly in asset-based lending and subordinated debt investing. Keller brings over $20 billion in asset management experience and aims to expand GECC’s influence in specialty finance markets. CEO Peter Reed expressed confidence in Keller's abilities to enhance the company's lending strategies, facilitating organic growth and acquisitions to drive shareholder value.
Great Elm Capital Corp. (GECC) reported its third-quarter financial results for 2021, showing a net investment income (NII) of $1.6 million, down from $2.1 million in Q2 2021. NII per share decreased to $0.07, impacted by legal fees related to a legacy investment. The company acquired a majority stake in Lenders Funding, enhancing its specialty finance platform, and issued $13.25 million in equity. Net assets grew to $99.4 million, but NAV per share dropped to $3.70. A quarterly dividend of $0.10 per share for Q1 2022 has been approved.
Great Elm Capital Corp. (GECC) has announced a conference call on November 5, 2021, at 11:00 a.m. ET to discuss its third-quarter financial results for the period ending on September 30, 2021. The results will be released before the market opens on the same day. Investors can join the call by dialing in approximately five minutes early and providing the passcode 'GECC'. Additionally, a presentation will be available on the company's website, showcasing its focus on generating income and capital appreciation through debt and equity investments.
Great Elm Capital Corp. (GECC) has announced the acquisition of a majority equity interest in Lenders Funding, LLC for $7.25 million, comprising $4 million in cash and $3.25 million in GECC shares. Lenders Funding specializes in providing risk-sharing funding solutions for asset-based lenders since 2000. The acquisition aims to enhance GECC's focus on specialty finance and leverage Lenders Funding's extensive network and experience in the capital market. This partnership is expected to improve revenue streams for both entities.
Great Elm Capital Corp. (GECC) announced a cash distribution of $0.10 per share for the third quarter of 2021, payable on September 30, 2021, to stockholders recorded as of September 15, 2021. GECC operates as a business development company focusing on investments in debt and equity securities to generate income and capital appreciation. They are regulated under the Investment Company Act of 1940. The company cautions that forward-looking statements are subject to risks, including market conditions and impacts from the COVID-19 pandemic.
Great Elm Capital Corp. (GECC) reported significant gains for Q2 2021, with a net investment income (NII) of $2.1 million, up from $1.5 million in Q1 2021 and $0.9 million in Q2 2020. NII per share rose to $0.09 from $0.06. Asset coverage ratio stood at 166.2%, while net assets slightly increased to $91.7 million. The company paid a quarterly dividend of $0.10 per share and closed a $25 million credit line. GECC issued $57.5 million in senior notes, enhancing liquidity. The total investments reached $209.4 million, with a weighted average current yield on the debt portfolio of 11.1%.
Great Elm Capital Corp (GECC) announced a conference call scheduled for August 3, 2021, at 11:00 a.m. ET to discuss its second-quarter financial results for the period ending June 30, 2021. The earnings release will precede the market opening on the same day. Investors can participate by dialing specific numbers provided for both United States and international callers. A webcast of the call will also be available on the company's website. GECC focuses on generating income and capital appreciation through investments.
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?
