Great Elm Capital (NASDAQ: GECC) to redeem $6.5M 8.50% 2029 notes
Rhea-AI Filing Summary
Great Elm Capital Corp. is electing to partially redeem its 8.50% Notes due 2029. The company will redeem $6,500,000 aggregate principal amount, or 260,000 Notes, on August 19, 2026, at 100% of principal plus accrued and unpaid interest, pursuant to its Indenture terms.
Each Note will be redeemed at $25.00 plus $0.28924 of accrued interest per Note through, but excluding, the Redemption Date, after which interest on the redeemed Notes will stop accruing. The redemption price will be payable on the Redemption Date to holders of the Notes on July 21, 2026, and payments may be subject to 24% backup withholding if required tax documentation is not provided.
Positive
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Filing Explained
The
8-K Event Classification
2 items: 8.01, 9.01
2 items
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Notes Redeemed: $6,500,000 aggregate principal amount
Number of Notes Redeemed: 260,000 Notes
Redemption Price per Note: $25.00 per Note
+2 more
5 metrics
Notes Redeemed
$6,500,000 aggregate principal amount
8.50% Notes due 2029 to be redeemed on August 19, 2026
Number of Notes Redeemed
260,000 Notes
Portion of 8.50% Notes due 2029 called for partial redemption
Redemption Price per Note
$25.00 per Note
100% of principal amount per Note being redeemed
Accrued Interest per Note
$0.28924 per Note
Accrued and unpaid interest through but excluding the Redemption Date
Backup Withholding Rate
24%
U.S. federal income tax backup withholding on gross payments without required tax forms
Key Terms
Redemption Date, aggregate principal amount, Indenture, backup withholding
4 terms
Redemption Date financial
"The Company will redeem $6,500,000 ... on August 19, 2026 (the "Redemption Date")."
The redemption date is the specific day when a debt-like security (such as a bond, preferred share, or certificate) must be repaid by the issuer and the investor receives the principal plus any final interest or dividends. It matters to investors because it tells when cash will return, shapes the effective return and price of the security, and creates reinvestment and timing considerations—like knowing when a loan is due so you can plan what to do with the returned money.
aggregate principal amount financial
"The Company will redeem $6,500,000 aggregate principal amount of the issued and outstanding Notes"
The aggregate principal amount is the total amount of money borrowed through a bond or loan that the borrower promises to repay. It’s like the original price tag on a loan or bond, showing how much money is involved in the deal. This number matters because it indicates the size of the debt and helps investors understand the scale of the borrowing.
Indenture regulatory
"pursuant to Section 1104 of the Indenture, dated as of September 18, 2017"
An indenture is a legal agreement between a company that borrows money by issuing bonds and the people who buy those bonds. It explains the rules the company must follow, like paying back the money and keeping certain financial promises. This document helps both sides understand their rights and responsibilities.
backup withholding regulatory
"Under U.S. federal income tax law, the Trustee ... may be required to withhold twenty-four percent (24%)"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Great Elm Capital Corp. (GECC) announce about its 8.50% Notes due 2029?
Great Elm Capital Corp. announced a partial redemption of its 8.50% Notes due 2029. The company will redeem $6,500,000 aggregate principal amount of these notes under its Indenture, with payment due on the August 19, 2026 Redemption Date.
How much of GECC’s 8.50% Notes due 2029 will be redeemed and on what date?
GECC will redeem $6,500,000 aggregate principal amount, equal to 260,000 Notes, of its 8.50% Notes due 2029. The redemption is scheduled for August 19, 2026, designated as the Redemption Date in the notice to holders.
What is the redemption price for GECC’s 8.50% Notes due 2029?
Each Note will be redeemed at $25.00, representing 100% of principal, plus $0.28924 of accrued and unpaid interest per Note. Interest accrues through, but excluding, August 19, 2026, after which interest on the redeemed Notes will cease.
Who is entitled to receive the redemption payment on GECC (GECC) notes?
The redemption price will be due and payable on the Redemption Date to holders of the Notes on July 21, 2026. Holders must present and surrender their Notes, directly or through book-entry procedures, to receive payment from the trustee and paying agent.
Are there tax withholding considerations for holders of GECC’s 8.50% Notes due 2029?
Yes. Under U.S. federal income tax law, a 24% backup withholding may apply to gross payments if a holder fails to provide a taxpayer identification number and certifications, typically via Form W-9 or an appropriate Form W-8, when surrendering Notes for redemption.