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 (GECC), a specialty finance company operating as a business development company (BDC), provides focused middle market debt solutions. This page serves as the definitive source for all official GECC announcements, offering investors and stakeholders timely access to material developments.
Find curated press releases covering earnings reports, debt portfolio updates, leadership changes, and regulatory filings. Our aggregation ensures comprehensive tracking of GECC's strategic initiatives in leveraged finance and capital markets. Key updates include dividend declarations, SEC Form 10-Q/K filings, and material investment activity disclosures.
Bookmark this page to monitor GECC's middle market positioning through verified news sources. Check regularly for updates on credit facility expansions, capital structure adjustments, and other events impacting shareholder value in the BDC sector.
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.
Great Elm Capital Corp. (GECC) has scheduled its First Quarter 2024 Earnings Release and Conference Call for May 2, 2024, at 5:00 p.m. ET. The financial results for the quarter ended March 31, 2024, will be discussed during the call. Participants can access the call using the provided dial-in numbers and passcode, with a slide presentation available on the company's website. The call will also be webcasted.
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