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. reports business development company developments tied to its debt and income-generating equity investment portfolio. News commonly covers quarterly financial results, net asset value, net investment income, distributions, liquidity, revolving credit availability, private credit deployment and portfolio diversification.
Company updates also address portfolio credit events, non-accrual investments, CLO joint venture distributions, common-stock issuance, share repurchase authorization, note offerings or redemptions, adviser fee matters and board or executive leadership changes. GECC is externally managed by Great Elm Capital Management, LLC and operates with an investment objective of current income and capital appreciation.
Great Elm Capital Corp. (GECC) will release its financial results for the third quarter ended September 30, 2020, on November 9, 2020, before the market opens. A conference call is set for the same day at 11:00 a.m. ET. Investors can dial in early for the call and access a slide presentation via the company’s website. GECC is a business development company focusing on middle-market debt investments, aiming for attractive returns through income and capital appreciation.
Great Elm Capital Corp. (GECC) announced the successful conclusion of its non-transferable rights offering, which allowed shareholders to purchase one share at $2.95 per right, expiring on September 28, 2020. The Company received subscription requests for 10,795,419 shares, ultimately selling 10,761,950 shares for approximately $31.8 million in gross proceeds. The funds will be utilized for strategic investments in undervalued assets and to support portfolio companies amid COVID-19, enhancing GECC's financial position.
Great Elm Capital Corp. (GECC) announced a non-transferable subscription rights offering to sell up to 10,761,950 shares of its common stock, with a record date of September 4, 2020. Stockholders will receive one right for each share owned, allowing them to purchase shares at a subscription price of 85% of the volume-weighted average price for the five trading days ending on the expiration date, September 28, 2020. The proceeds will be used for opportunistic investments and support during the COVID-19 pandemic.
Great Elm Capital Corp. (GECC) reported its financial results for Q2 2020, revealing a net investment income of approximately $0.9 million ($0.09 per share), down from $2.7 million ($0.26 per share) in Q1 2020. The decrease resulted from monetizing income-generating investments to improve liquidity amid COVID-19 market volatility. The asset coverage ratio improved to 144.5%, still below the minimum required 150%. GECC plans to focus on diversifying investments in specialty finance, particularly in Prestige Capital Finance, LLC.
Great Elm Capital Corp. (NASDAQ: GECC) is set to release its first quarter 2020 results on May 11, 2020. A corresponding conference call will be held on the same day at 10:00 a.m. Eastern Time to discuss these financial results. Interested participants can join the call by dialing +1 (844) 820-8297 and entering Conference ID 7099005. Furthermore, a webcast of the call will be available. GECC operates as a specialty finance company, focusing on investments in the debt instruments of middle market companies, aiming to achieve attractive, risk-adjusted returns.