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 September 30, 2024 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 organ ...

Hewlett Packard Enterprise Company ( HPE ) priced an offering of $1.35 billion worth of new series C mandatory convertible preferred stock, at $50 per share. The shares will convert to common stock in September 2027, at a conversion ratio of between 2.5352 Whether you are the kind of investor who sticks with preferred stocks with a CDx3 Compliance Score rated 10 out of 10, or whether your portfolio has room for 9-score-and-lower securities, stay tuned for future articles recapping new IPOs and interesting p ...

PALM BEACH GARDENS, Fla., Sept. 12, 2024 (GLOBE NEWSWIRE) -- Great Elm Capital Corp. (the "Company" or "GECC") (NASDAQ: GECC) announced today that it has caused notices to be issued to the holders of its 6.75% Notes due 2025 (CUSIP No. 390320 406; NASDAQ: GECCM) (the "Notes") regarding the Company's exercise of its conditional option to redeem, in whole, the issued and outstanding Notes, pursuant to Section 1104 of the Indenture, dated as of September 18, 2017, by and between the Company and Equiniti Trust ...

Core Points - Great Elm Capital Corp. announced a public offering of $36 million aggregate principal amount of 8.125% notes due 2029, with net proceeds expected to be approximately $34.4 million after expenses [1][3] - The notes will mature on December 31, 2029, and can be redeemed by the company starting December 31, 2026 [2] - The company plans to use the proceeds to redeem all outstanding 6.75% unsecured notes due 2025 [3] - The offering is managed by Lucid Capital Markets, Janney Montgomery Scott, and Piper Sandler, with additional co-managers [4] Financial Details - The offering size is $36 million, with net proceeds of approximately $34.4 million [1] - The company has granted underwriters a 30-day option to purchase an additional $5.4 million of notes for over-allotments [2] - The notes are expected to be listed on The Nasdaq Global Market under the symbol "GECCH" [3] Company Overview - Great Elm Capital Corp. is an externally managed business development company focused on generating current income and capital appreciation through debt and equity investments, including in specialty finance businesses [8]

Financial Performance (Q2 2024) - Net Investment Income (NII) was $3.1 million, or $0.32 per share, compared to $3.2 million, or $0.37 per share in Q1 2024[6, 12] - Net assets were $126.0 million, or $12.06 per share, compared to $118.8 million, or $12.57 per share in Q1 2024[6] - NAV per share was adversely impacted by ~$0.39 due to write-downs of illiquid investments on non-accrual in two companies[6] - Asset coverage ratio was 171.0% compared to 180.2% in Q1 2024[6] - Debt-to-equity ratio was 1.41x compared to 1.25x in Q1 2024[6] Distribution - A distribution for the quarter ending September 30, 2024, was approved at a rate of $0.35 per share[6, 7] - This equates to a 13.0% annualized yield on the Company's closing market price of $10.73 on July 31, 2024[6, 7] - It also represents an 11.6% annualized yield on the Company's June 30, 2024 NAV of $12.06 per share[6, 7] Portfolio Composition (as of June 30, 2024) - Total portfolio fair value was $297.7 million[11] - Debt investments comprised 70.7% of the portfolio, with a fair value of $210.4 million and a weighted average current yield of 13.1%[21] - Equity investments included $28.1 million in CLO Formation JV (9.4%), $15.6 million in dividend-paying equity investments (5.2%), $15.0 million in Great Elm Specialty Finance (5.0%), and $19.2 million in other equity investments (6.4%)[21]

Great Elm Capital (GECC) came out with quarterly earnings of $0.32 per share, missing the Zacks Consensus Estimate of $0.33 per share. This compares to earnings of $0.44 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -3.03%. A quarter ago, it was expected that this company would post earnings of $0.42 per share when it actually produced earnings of $0.37, delivering a surprise of -11.90%. Over the last four quarters, the com ...

PALM BEACH GARDENS, Fla., July 30, 2024 (GLOBE NEWSWIRE) -- Great Elm Capital Corp. (the "Company" or "GECC"), (NASDAQ: GECC), a business development company, today announced it will release its financial results for the second quarter ended June 30, 2024 after the close of market trading on Thursday, August 1, 2024, and discuss these results in a conference call at 5:00 p.m. ET. Date/Time: Thursday, August 1, 2024 – 5:00 p.m. ET Webcast The call and presentation will also be simultaneously webcast over the ...

To access the call, please dial-in approximately five minutes before the start time and, when asked, provide the operator with passcode "GECC". An accompanying slide presentation will be available in pdf format via the "Events and Presentations" section of Great Elm Capital Corp.'s website here after the issuance of the earnings release. Source: Great Elm Capital Corp. Thursday, August 1, 2024 – 5:00 p.m. ET Webcast The call and presentation will also be simultaneously webcast over the internet via the "Eve ...

Group 1 - Great Elm Capital Corp. (GECC) announced the issuance of $22 million of additional 8.50% notes due 2029 in a registered direct offering to an institutional investor [3] - The company recently completed a $12 million equity raise, which is aimed at optimizing its weighted average cost of capital [1] - GECC's CEO, Matt Kaplan, highlighted the company's ability to attract capital from institutional partners as a sign of the strength of its platform [1] Group 2 - GECC is classified as an externally managed business development company that focuses on generating current income and capital appreciation through investments in debt and income-generating equity securities, including specialty finance businesses [1]

PALM BEACH GARDENS, Fla., July 09, 2024 (GLOBE NEWSWIRE) -- Great Elm Capital Corp. (the "Company" or "GECC"), (NASDAQ:GECC), a business development company, today announced it issued $22 million of additional 8.50% notes due 2029 (the "GECCI Notes") in a registered direct offering to an institutional investor. "We are pleased to announce this tack-on debt financing on the heels of our $12 million equity raise at NAV last month, further optimizing our weighted average cost of capital," said Matt Kaplan, GEC ...