Core Viewpoint - Great Elm Capital Corp. (GECC) is set to release its financial results for the third quarter of 2025 on November 4, 2025, after market close, with a conference call scheduled for November 5, 2025, at 8:30 a.m. ET [1] Group 1 - The financial results will be discussed in a conference call format [1] - Participants can join the call by dialing specific numbers for the United States and international attendees [2] - An accompanying slide presentation will be available on GECC's website after the earnings release [2][3] Group 2 - GECC is an externally managed business development company focused on generating current income and capital appreciation through investments in debt and income-generating equity securities [4] - The company invests in specialty finance businesses and collateralized loan obligations (CLOs) [4]

Core Insights - The equity market serves as a significant mechanism for wealth creation or destruction over the long term through daily price fluctuations [1] Group 1: Investment Focus - Pacifica Yield aims to create long-term wealth by focusing on undervalued high-growth companies, high-dividend stocks, REITs, and green energy firms [1]

Core Insights - Great Elm Capital Corp. (NASDAQ:GECC) is a business development company focusing on loan and mezzanine investments in middle market companies, particularly in sectors like media, healthcare, and telecommunications [1] - The company targets firms with revenues between $3 million and $75 million, making equity investments ranging from $3 million to $10 million [1] Financial Performance - In Q2 2025, Great Elm Capital reported a GAAP EPS of $1.02, representing a 136% increase and surpassing the analyst estimate of $0.43, indicating effective investment strategies and a strong financial position [3] - Quarterly earnings of $0.51 per share exceeded the Zacks Consensus Estimate of $0.44, although the trend in earnings estimate revisions may not support continued upward movement for the stock in the near term [5] Analyst Outlook - The consensus price target for GECC has remained stable at $11 over the past year, suggesting a steady outlook on the company's performance despite a recent 5.6% jump in stock price [2][6] - Analysts from Capital One Financial maintain the $11 target, indicating no significant changes in expectations or company fundamentals [2][4] Strategic Direction - Insights from the recent earnings call highlighted the company's effective investment strategies and strong financial position, with participation from key executives and analysts [4][6]

Core Insights - The article emphasizes the importance of a hybrid investment strategy that combines classic dividend growth stocks with Business Development Companies, REITs, and Closed End Funds to enhance investment income while achieving total returns comparable to traditional index funds. Group 1: Investment Strategy - A solid base of classic dividend growth stocks can be complemented with other asset types to create a balanced portfolio [1] - The hybrid system developed allows for capturing total returns that align with the performance of the S&P index [1] Group 2: Investment Focus - The focus is on high-quality dividend stocks and assets that provide potential for long-term growth and income generation [1] - The strategy aims to boost investment income effectively while maintaining a total return that is competitive with traditional investment vehicles [1]

Group 1: Company Overview - Great Elm Capital (GECC) shares increased by 5.6% to close at $8.1, following a notable trading volume, despite a 32.1% loss over the past four weeks [1] - The company is expected to report quarterly earnings of $0.24 per share, reflecting a year-over-year decline of 38.5%, with revenues projected at $10.08 million, down 14.1% from the previous year [2] - The consensus EPS estimate for GECC has remained unchanged over the last 30 days, indicating that stock price movements may not sustain without earnings estimate revisions [4] Group 2: Industry Context - The Federal Reserve's recent interest rate cuts have led to increased loan demand for Business Development Companies (BDCs), positively impacting Great Elm Capital's stock performance [2] - Great Elm Capital is part of the Zacks Financial - Investment Management industry, which includes other companies like Victory Capital Holdings (VCTR), which saw a 0.8% increase in its stock price [5] - Victory Capital's consensus EPS estimate has increased by 1.8% over the past month, indicating a positive trend in the industry [6]

[Filing Information](index=1&type=section&id=Filing%20Information) This section details the registrant's corporate information and lists its various classes of securities registered on the Nasdaq Global Market [Registrant and Securities Details](index=1&type=section&id=Registrant%20and%20Securities%20Details) This section provides the general filing information for Great Elm Capital Corp.'s Form 8-K, detailing the registrant's corporate information and listing its various classes of securities registered on the Nasdaq Global Market - **Great Elm Capital Corp.** is the registrant[1](index=1&type=chunk) - Jurisdiction of incorporation is **Maryland**[1](index=1&type=chunk) - The registrant is not an emerging growth company[3](index=3&type=chunk) Securities Registered on Nasdaq Global Market | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | | :------------------ | :---------------- | :---------------------------------------- | | Common stock, $0.01 par value | GECC | Nasdaq Global Market | | 5.875% Notes due 2026 | GECCO | Nasdaq Global Market | | 8.50% Notes due 2029 | GECCI | Nasdaq Global Market | | 8.125% Notes due 2029 | GECCH | Nasdaq Global Market | | 7.75% Notes due 2030 | GECCG | Nasdaq Global Market | [Item 2.02 Results of Operations and Financial Condition](index=2&type=section&id=Item%202.02%20Results%20of%20Operations%20and%20Financial%20Condition) This item reports the issuance of a press release containing preliminary unaudited financial information for the quarter ended September 30, 2025 [Preliminary Financial Information](index=2&type=section&id=Preliminary%20Financial%20Information) Great Elm Capital Corp. announced the issuance of a press release on October 7, 2025, which includes selected preliminary and unaudited financial information for the quarter ended September 30, 2025 - Great Elm Capital Corp. issued a press release on **October 7, 2025**[4](index=4&type=chunk) - The press release contained selected preliminary and unaudited financial information[4](index=4&type=chunk) - Financial information covers the quarter ended **September 30, 2025**[4](index=4&type=chunk) - The press release is furnished as **Exhibit 99.1**[4](index=4&type=chunk) [Item 8.01 Other Events](index=2&type=section&id=Item%208.01%20Other%20Events) This item formally incorporates by reference the preliminary financial information and results of operations discussed in Item 2.02 [Cross-Reference to Financial Information](index=2&type=section&id=Cross-Reference%20to%20Financial%20Information) This section formally incorporates by reference the preliminary financial information and results of operations discussed in Item 2.02 of this report - Information from **Item 2.02** is incorporated by reference into **Item 8.01**[5](index=5&type=chunk) [Item 9.01 Financial Statements and Exhibits](index=2&type=section&id=Item%209.01%20Financial%20Statements%20and%20Exhibits) This item lists the exhibits furnished with the Form 8-K, including the press release and inline XBRL cover page [List of Exhibits](index=2&type=section&id=List%20of%20Exhibits) This section provides a list of exhibits furnished with the Form 8-K, including the press release containing preliminary financial information and the inline XBRL formatted cover page Exhibits Furnished | Exhibit Number | Description | | :------------- | :------------------------------------------------ | | 99.1 | Press Release, dated October 7, 2025 | | 104 | The cover page of this Current Report on Form 8-K, formatted as inline XBRL | - The listed exhibits are furnished with the report but are not deemed filed[7](index=7&type=chunk) [Signatures](index=3&type=section&id=SIGNATURES) This section confirms the official signing and authorization of the report by the Chief Financial Officer, in compliance with the Securities Exchange Act of 1934 [Authorization and Filing](index=3&type=section&id=Authorization%20and%20Filing) The report was officially signed on October 7, 2025, by Keri A. Davis, Chief Financial Officer of Great Elm Capital Corp., confirming its due authorization and compliance with the Securities Exchange Act of 1934 - The report was signed on behalf of Great Elm Capital Corp. on **October 7, 2025**[10](index=10&type=chunk)[11](index=11&type=chunk) - Signed by **Keri A. Davis**, Chief Financial Officer[11](index=11&type=chunk) - The signing is pursuant to the requirements of the **Securities Exchange Act of 1934**[9](index=9&type=chunk)

Core Viewpoint - Great Elm Capital Corp. ("GECC") has provided an update regarding its investments in First Brands Group, LLC, which recently filed for bankruptcy, detailing the financial implications and exposure related to this investment [2][3]. Investment Exposure - GECC has investments in both First Lien Term Loan and Second Lien Term Loan of First Brands, which were placed on non-accrual due to the bankruptcy filing [2]. - The direct exposure to First Brands includes approximately 0.9% across all CLOs in which GECC is invested as of June 30, 2025 [3]. First Lien Loan Details - As of June 30, 2025, GECC held a principal amount of $9.3 million in the First Lien Loan, with a fair market value of $8.8 million, representing 94.3% of the principal amount [3]. - In Q3 2025, GECC sold $4.5 million of its First Lien Loan for $4.4 million, equating to 97.9% of the principal amount [3]. - The remaining $4.8 million principal amount of the First Lien Loan is estimated to have a fair market value of approximately $1.7 million as of September 30, 2025, or 35.2% of the principal amount, leading to an expected adverse impact of about $2.8 million on net asset value [3]. Second Lien Loan Details - GECC held a principal amount of $16.2 million in the Second Lien Loan, with a fair market value of $14.5 million, or 89.5% of the principal amount, as of June 30, 2025 [3]. - The fair market value of the Second Lien Loan is expected to drop to approximately $0.9 million, or 5.5% of the principal value, resulting in an anticipated adverse impact of about $13.6 million on net asset value [3]. Net Asset Value Impact - The total direct net asset value impact from First Brands is estimated to be approximately $16.5 million for the quarter ended September 30, 2025 [3]. - GECC anticipates that the change in values of its directly held First Brands investments will adversely affect its net asset value by approximately $1.15-$1.25 per share [3]. Capital Activity Update - In August 2025, GECC issued approximately 1.3 million shares for net proceeds of $14 million and utilized its ATM program to issue an additional 1.1 million shares for approximately $13 million, totaling about $27 million in net proceeds for Q3 2025 [6]. - GECC issued $50 million principal amount of 7.75% Notes due December 31, 2030, and redeemed $40 million principal amount of 8.75% Notes, saving approximately $0.4 million in cash interest expense annually [7]. Financial Position - As of September 30, 2025, GECC estimates its debt-to-equity ratio to be approximately 1.5x, consistent with recent operating history [8]. - The company retains over $20 million of deployable cash for future investments and has $50 million available under its revolving line of credit [8].

Core Viewpoint - Great Elm Capital Corp. (GECC) has announced a public offering of $50 million in 7.75% notes due 2030, with net proceeds expected to be approximately $48.1 million after expenses [1][4]. Group 1: Offering Details - The notes will mature on December 31, 2030, and can be redeemed by the company starting December 31, 2027 [2]. - Underwriters have a 30-day option to purchase an additional $7.5 million in notes to cover over-allotments [2]. - The transaction is subject to customary closing conditions, with expected delivery around September 11, 2025 [3]. Group 2: Use of Proceeds - The net proceeds will primarily be used to redeem all outstanding 8.75% notes due 2028 [4]. - Remaining proceeds may be allocated to redeem or repurchase other outstanding notes due in 2026 and 2029, repay borrowings under the revolving credit facility, or for general corporate purposes [4]. Group 3: Company Overview - Great Elm Capital Corp. is an externally managed business development company focused on generating income and capital appreciation through investments in debt and income-generating equity securities [9].

Core Viewpoint - Great Elm Capital Corp. (GECC) has successfully raised approximately $15 million through the issuance of 1.3 million shares, representing 9.9% of its outstanding common stock, to an affiliate of newly appointed director Booker Smith, indicating strong institutional support and confidence in the company's turnaround strategy [1][3]. Group 1: Capital Raise and Financial Impact - The capital raise at $11.65 per share contributes to GECC's ongoing growth, with nearly $30 million raised in equity over the past 12 months, enhancing the company's balance sheet and supporting its long-term investment strategy [2][3]. - The additional capital allows GECC to pursue attractive investment opportunities in the current market, reflecting a vote of confidence in the company's progress since its turnaround began in March 2022 [3]. Group 2: Investment Strategy - GECC's investment strategy focuses on generating sustainable income and total return through investments in debt instruments, income-producing equity, and specialty finance businesses [3][4]. - The company is an externally managed business development company that aims for capital appreciation by investing in debt and income-generating equity securities, including specialty finance businesses and collateralized loan obligations (CLOs) [4].

Core Insights - Great Elm Group, Inc. announced a strategic investment from Woodstead, an institutional investor, involving the purchase of 4.0 million shares of GEG's common stock at $2.25 per share, totaling $9.0 million [1][2] - Booker Smith has joined GEG's Board of Directors, bringing extensive experience in corporate credit and real estate investing, which will support GEG's strategic priorities [3][4] - The transaction aims to provide growth capital for GEG to expand its assets under management and enhance profitability, with long-term alignment between Woodstead and GEG shareholders through warrants [5][6] Transaction Details - Woodstead is purchasing 4.0 million shares at $2.25 per share, generating gross proceeds of $9.0 million, and will hold 10-year warrants for an additional 2.0 million shares at prices of $3.50 and $5.00 [2][7] - Separately, Great Elm Capital Corp. issued approximately 1.3 million shares to Poor Richard LLC, an affiliate of Booker Smith, at $11.65 per share, raising $15.0 million, which strengthens GECC's balance sheet [6][7] Strategic and Financial Impact - The investment is expected to provide new growth capital for GEG, facilitating the expansion of assets under management and profitability enhancement [5] - The capital raised by GECC is anticipated to generate incremental management fees for GEG once deployed, reflecting investor confidence in GECC's turnaround since March 2022 [6][7] Upcoming Events - GEG will release its fiscal 2025 earnings after market close on September 2, 2025, followed by a conference call on September 3, 2025, at 8:30 a.m. ET [1][8]