Great Elm Capital Corp. November 5, 2021 © 2021 Great Elm Capital Corp. Great Elm Capital Corp. (NASDAQ: GECC) Investor Presentation Quarter Ended September 30, 2021 Forward Looking Statement Statements in this communication that are not historical facts are "forward-looking" statements within the meaning of the federal securities laws. These statements are often, but not always, made through the use of words or phrases such as "expect," "anticipate," "should," "will," "estimate," "designed," "seek," "conti ...

Great Elm Capital Corp (NASDAQ:GECC) Q3 2021 Earnings Conference Call November 5, 2021 11:00 AM ET Company Participants Adam Prior - SVP Peter Reed - Chairman, President & CEO Matt Kaplan - Portfolio Manager Keri Davis - CFO & Treasurer Conference Call Participants Operator Good day, and thank you for standing by. Welcome to the Great Elm Capital Corp. Third Quarter 2021 Financial Results Conference Call. [Operator Instructions] I would now like to hand the conference over to your representative from the co ...

Great Elm Capital Corporation (NASDAQ:GECC) Q2 2021 Results Conference Call August 3, 2021 11:00 AM ET Company Participants Adam Prior - IR, The Equity Group Inc. Peter Reed - President and CEO Adam Kleinman - COO Keri Davis - CFO Matt Kaplan - Portfolio Manager Conference Call Participants Joshua Horowitz - Palm Global Operator Good morning, ladies and gentlemen, and welcome to the Great Elm Capital Corp. Second Quarter 2021 Financial Results Conference Call. [Operator Instructions] As a reminder, this con ...

Revenue and Investment Performance - The company generated revenue primarily from interest on debt investments, dividends on equity investments, and capital gains, with expected maturities of three to five years for fixed income instruments[18]. - For the year ended December 31, 2020, the company acquired investments totaling $101.36 million and disposed of investments totaling $111.99 million, resulting in a weighted average yield of 10.00%[33]. - As of June 30, 2021, the ending investment portfolio at fair value was $209.43 million, up from $151.65 million at the beginning of the period[35]. - The net change in unrealized appreciation on investments for the six months ended June 30, 2021, was $17.08 million, while the net realized loss on investments was $5.64 million[35]. - The weighted average yield for the quarter ended June 30, 2021, was 11.10%, reflecting the performance of the investment portfolio[33]. - Investment income for the three months ended June 30, 2021, was $6,233,000, up from $4,768,000 in the same period of 2020, reflecting a year-over-year increase of approximately 30.6%[40]. - Interest income for the three months ended June 30, 2021, was $5,092,000, compared to $4,184,000 for the same period in 2020, marking an increase of approximately 21.8%[40]. - Dividend income for the three months ended June 30, 2021, increased to $1,093,000 from $480,000 in the prior year, representing a growth of approximately 128.5%[44]. Expenses and Financial Management - The company’s primary operating expenses include a base management fee and an incentive fee, which are tied to the performance of the investments[19]. - Total expenses for the three months ended June 30, 2021, were $4,130,000, an increase from $3,852,000 in the same period of 2020, indicating a rise of approximately 7.2%[47]. - Management fees for the three months ended June 30, 2021, were $765,000, up from $591,000 in the prior year, reflecting an increase of approximately 29.4%[47]. - Interest expense for the three months ended June 30, 2021, was $2,291,000, slightly down from $2,390,000 in the same period of 2020, showing a decrease of approximately 4.1%[47]. - The company recognized incentive fees of $398,000 for the three months ended June 30, 2021, compared to $228,000 in the same period of 2020, representing an increase of approximately 74.6%[47]. Cash Flow and Financial Position - As of June 30, 2021, the company had approximately $59.8 million in cash and cash equivalents, with investments totaling approximately $155.7 million in debt instruments and $53.7 million in equity investments[65]. - During the six months ended June 30, 2021, net cash used for operating activities was approximately $36.5 million, reflecting significant investment activity[68]. - For the six months ended June 30, 2021, net cash provided by financing activities was $43.1 million, primarily from the issuance of GECCO Notes[69]. - The company had approximately $24.6 million in unfunded loan commitments as of June 30, 2021, indicating potential future investment activity[66]. - The total contractual obligations as of June 30, 2021 amounted to $168.7 million, with significant future commitments related to various notes[70]. Investment Risks and Market Conditions - The company expects potential financial distress among portfolio companies due to the ongoing impact of COVID-19, which may affect future interest payments and dividend distributions[46]. - The company anticipates further decreases in investment income if interest rates remain depressed or continue to decline without offsetting investments in higher-yielding debt instruments[46]. - The company is subject to financial risks, with approximately $100.4 million in principal amount of debt investments bearing interest at variable rates as of June 30, 2021[99]. - The COVID-19 pandemic has disrupted economic markets, potentially impacting the valuation of the company's investments and results of operations[91]. - The company continues to monitor the COVID-19 situation and its impact on portfolio companies, which may experience financial distress and default on obligations[95]. Portfolio Valuation and Changes - The company’s portfolio investments are valued at fair value, with the board approving valuations at the end of each quarter[22]. - As of June 30, 2021, the total fair value of the investment portfolio was $209,433,000, an increase from $151,648,000 as of December 31, 2020, representing a growth of approximately 38%[38]. - The company recognized unrealized appreciation of $2.8 million on CPK common stock during the three months ended June 30, 2021[59]. - The company experienced a net unrealized appreciation of $17.1 million for the six months ended June 30, 2021, compared to a net unrealized depreciation of $23.2 million in the same period of 2020[56]. - Unrealized depreciation for the six months ended June 30, 2021 included decreases in fair value of $3.8 million on PFS common stock[60]. Debt and Financing Activities - The company entered into a Loan Agreement with City National Bank providing a senior secured revolving line of credit of up to $25 million, with no borrowings outstanding as of June 30, 2021[76]. - The Loan Agreement includes financial covenants requiring net assets of not less than $65 million and asset coverage equal to or greater than 160%[77]. - The company sold $28.4 million in aggregate principal amount of 6.50% notes due 2022, with an additional $4.3 million sold upon full exercise of the underwriters' over-allotment option, totaling $30.3 million outstanding as of June 30, 2021[78]. - All issued and outstanding GECCL Notes were redeemed on July 23, 2021 at 100% of the principal amount plus accrued interest[79]. - The company sold $50.0 million in aggregate principal amount of 5.875% notes due 2026, with an additional $7.5 million sold upon full exercise of the underwriters' over-allotment option[85]. - As of June 30, 2021, the asset coverage ratio was approximately 166.2%, exceeding the minimum requirement of 150% under the Investment Company Act[87]. - In July 2021, the company made several investments, including purchasing 250,000 shares of Equitrans Midstream Corp. preferred stock for approximately $5.3 million[90].

Great Elm Capital Corporation (NASDAQ:GECC) Q1 2021 Earnings Conference Call May 7, 2021 11:00 AM ET Company Participants Adam Yates - Portfolio Manager Peter Reed - Chairman, President & CEO Keri Davis - CFO & Treasurer Matt Kaplan - Portfolio Manager Conference Call Participants Alan Denzer - The Haft Group Inc. Operator Greetings. Thank you for standing by, and welcome to the Great Elm Capital Corp. First Quarter 2021 Financial Results Conference Call. [Operator Instructions] I would now like to hand th ...

May 7, 2021 © 2021 Great Elm Capital Corp. Great Elm Capital Corp. (NASDAQ: GECC) Investor Presentation Quarter Ended March 31, 2021 Forward Looking Statement Statements in this communication that are not historical facts are "forward-looking" statements within the meaning of the federal securities laws. These statements are often, but not always, made through the use of words or phrases such as "expect," "anticipate," "should," "will," "estimate," "designed," "seek," "continue," "upside," "potential," "pre ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 814-01211 Great Elm Capital Corp. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Emplo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 814-01211 Great Elm Capital Corp. (Exact name of registrant as specified in its charter) Maryland 81-2621577 (State or other jurisdiction of incorporation or organization) (I.R.S. E ...

Great Elm Capital Corporation (NASDAQ:GECC) Q3 2020 Earnings Conference Call November 9, 2020 11:00 AM ET Company Participants Adam Yates - Portfolio Manager Peter Reed - President & Chief Executive Officer Keri Davis - Chief Financial Officer Conference Call Participants Josh Horowitz - Palm Global Mickey Schleien - Ladenburg Operator Ladies and gentlemen, thank you for standing by and welcome to the Great Elm Capital Corporation Third Quarter 2020 Financial Results Conference Call. At this time, all part ...

November 9, 2020 © 2020 Great Elm Capital Corp. Great Elm Capital Corp. (NASDAQ: GECC) Investor Presentation Quarter Ended September 30, 2020 Forward Looking Statement Statements in this communication that are not historical facts are "forward-looking" statements within the meaning of the federal securities laws. These statements are often, but not always, made through the use of words or phrases such as "expect," "anticipate," "should," "will," "estimate," "designed," "seek," "continue," "upside," "potenti ...