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) has priced its public offering of $50 million in 5.875% notes due 2026. The Company expects to net approximately $47.9 million after expenses. The notes can be redeemed starting June 30, 2023, and the underwriters have a 30-day option for an additional $7.5 million. Proceeds will be utilized to redeem outstanding 6.50% notes due 2022 and for general corporate purposes. The transaction is subject to customary closing conditions, with expected delivery on June 23, 2021.
Great Elm Capital Corp. (GECC) has initiated an underwritten public offering of unsecured notes due 2026, aiming to list them under the symbol 'GECCO' on Nasdaq. Proceeds will be utilized to redeem existing 6.50% notes maturing in 2022, cover related expenses, and for general corporate purposes. The interest rates and terms will be established through negotiations with underwriters, which include Oppenheimer & Co., B. Riley Securities, and others. A registration statement has been filed but is pending effectiveness.
Great Elm Capital Corp. (GECC) has announced a cash distribution of $0.10 per share for Q2 2021, payable on June 30, 2021, to shareholders of record by June 15, 2021. As a business development company, GECC focuses on generating current income and capital appreciation through investments in debt and equity securities, particularly in specialty finance. The company is regulated under the Investment Company Act of 1940. Forward-looking statements indicate potential risks related to credit market conditions and the economic impact of the COVID-19 pandemic on its portfolio.
Great Elm Capital Corp. (GECC) reported its Q1 2021 financial results, highlighting a net investment income (NII) of $1.5 million, slightly down from $1.6 million in Q4 2020. NII per share was $0.06, compared to $0.07 in the previous quarter. Net assets grew to approximately $91.5 million, up from $79.6 million at the end of 2020. GECC secured a new $25 million credit facility to enhance financial flexibility. The asset coverage ratio improved to 177.1%. The company announced a cash distribution of $0.10 per share for Q2 2021. A quarterly conference call is scheduled to discuss these results.
Great Elm Capital Corp. (GECC) announced a new Loan Agreement with City National Bank, establishing a senior secured revolving line of credit of up to $25 million.
This facility enhances GECC's financial flexibility, allowing for greater investment in yield-generating assets. The credit line's maturity is set for May 5, 2024, contingent on refinancing conditions. Interest rates are pegged to the London Inter-bank Offered Rate plus 3.50%, or a base rate plus 2.00%. CEO Peter A. Reed expressed optimism about the agreement, citing it as beneficial for the company's growth strategy.
Great Elm Capital Corp (GECC) will release its financial results for the first quarter ending March 31, 2021, before the market opens on May 7, 2021. A conference call is scheduled for the same day at 11:00 a.m. ET, where GECC will discuss its performance and metrics from the quarter. Investors can access the call via dial-in or through a webcast available on the company's website. GECC is a specialty finance company focused on generating income and capital appreciation through investments.
Great Elm Capital Corp. (NASDAQ: GECC) has announced the appointment of Erik A. Falk to its Board of Directors, replacing John Stuart. Falk, currently Head of Strategy at Magnetar Capital, brings extensive asset management and credit expertise, having previously led KKR's Private Credit division. His addition aims to enhance shareholder value at GECC. The Board remains at five members following this change. GECC focuses on investing in debt instruments of middle market companies under the Investment Company Act of 1940, seeking attractive, risk-adjusted returns.
Great Elm Capital Corp. (GECC) reported Q4 2020 financial results, highlighting a net investment income (NII) of $1.6 million, down from $1.9 million in Q3 2020. NII per share fell to $0.07, compared to $0.18 in the previous quarter, affected by slower capital deployment and unexpected legal expenses. Total assets increased to approximately $79.6 million, with an asset coverage ratio of 167.1%. The company repurchased $5.3 million in senior notes and declared a cash distribution of $0.10 per share for Q2 2021, reflecting ongoing efforts to strengthen its financial position.
Great Elm Capital Corp. (GECC) announced it will release its financial results for Q4 and the year ending December 31, 2020, before market opening on March 16, 2021. A conference call will take place the same day at 11:00 a.m. ET to discuss the results. Interested participants can dial in using U.S. number 844-820-8297 or international number 661-378-9758. The presentation will also be available online post-release, providing insights into GECC's investment strategy focused on debt instruments of middle market companies.
Great Elm Capital Corp. (GECC) has announced a quarterly cash distribution of $0.10 per share, payable on March 31, 2021, to stockholders of record by March 15, 2021. GECC, a business development company, focuses on investing in middle market companies through debt instruments. The firm aims to deliver attractive, risk-adjusted returns via both current income and capital appreciation.
This announcement follows their previous earnings disclosure and highlights GECC's ongoing commitment to providing value to its shareholders.