Core Viewpoint - Great Elm Capital Corp. (GECC) has successfully issued approximately 1.0 million shares at a net asset value of $12.03 per share, raising a total of $12 million to support its growth initiatives [1][2]. Group 1: Financial Performance - GECC has raised $38 million of non-dilutive equity year-to-date, enhancing its platform expansion efforts [2]. - The gross net asset value of GECC has increased by nearly 80% since the management and board refresh in March 2022, benefiting shareholders [2]. Group 2: Strategic Initiatives - The investment in Prosper Peak Holdings, LLC (PPH) is part of GECC's strategy to expand its capital base and support its credit platform [2][6]. - Great Elm Group, Inc. (GEG), the parent company of GECC's investment manager, has made a $3 million investment in PPH, further aligning its interests with shareholders [6]. Group 3: Company Overview - 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, including specialty finance businesses [3].

PALM BEACH GARDENS, Fla., June 24, 2024 (GLOBE NEWSWIRE) -- Great Elm Capital Corp. (the "Company" or "GECC"), (NASDAQ:GECC), a business development company, today announced it issued approximately 1.0 million shares of the Company's common stock at a current net asset value of $12.03 per share, for an aggregate gross purchase price of $12 million, to Prosper Peak Holdings, LLC ("PPH"). "We have raised $38 million of non-dilutive equity year-to-date, bolstering our efforts to expand the platform," said Matt ...

Yielding Equity 3 $21.2 8% May 2, 2024 @2024 Great Elm Capital Corp. Net assets were $118.8mm ($12.57 per share¹) on March 31, 2024, as compared to $98.7mm ($12.99 per share¹) on December 31, 2023. 1 Based on shares outstanding of 9.5 million as of March 31, 2024 and 7.6 million as of December 31, 2023. 2 Illiquid, level 3 investments in two portfolio companies originated by prior management. ©2024 Great Elm Capital Corp. Q1 2024 Portfolio Review May 2, 2024 ©2024 Great Elm Capital Corp. 11 Debt Investments ...

Investment Performance - The company generated total investments of $226.1 million for the year ended December 31, 2023, with a weighted average yield of 13.77%[34] - For the quarter ended March 31, 2024, the company acquired investments totaling $64.6 million and disposed of $29.3 million, resulting in a weighted average yield of 12.84%[34] - The ending investment portfolio at fair value increased to $262.9 million as of March 31, 2024, up from $230.6 million at the end of the previous quarter[36] - The company’s net change in unrealized appreciation on investments for the three months ended March 31, 2024, was a decrease of $6.0 million[36] - The company’s net realized gain on investments for the same period was $2.4 million, contrasting with a loss of $4.7 million for the year ended December 31, 2023[36] - As of March 31, 2024, the total fair value of the investment portfolio was $262.86 million, an increase from $230.61 million as of December 31, 2023, representing a growth of approximately 13.93%[37] - Total investment income for the three months ended March 31, 2024, was $8.91 million, compared to $8.41 million for the same period in 2023, reflecting an increase of 5.9%[38] - Interest income rose to $7.58 million for the three months ended March 31, 2024, up from $6.63 million in the prior year, driven by a portfolio growth and an increase in the average coupon rate from 11.8% to 12.6%[39] - Net realized gains for the three months ended March 31, 2024, were $2.36 million, compared to $1.85 million in the prior year, indicating a growth of approximately 27.03%[48] - The net change in unrealized appreciation/depreciation for the three months ended March 31, 2024, was a loss of $6.01 million, contrasting with a gain of $3.48 million in the same period of 2023[50] Financial Position and Liquidity - As of March 31, 2024, the company had approximately $0.3 million in cash and cash equivalents and $8.3 million in money market fund investments[53] - For the three months ended March 31, 2024, net cash used for operating activities was approximately $25.4 million, while net cash provided by financing activities was $24.8 million[55][56] - The company believes it has sufficient liquidity to meet its short-term and long-term obligations for at least the next 12 months[56] - As of March 31, 2024, total contractual obligations amount to $148.1 million, with $45.6 million due within one year, $57.5 million due in 1-3 years, and $40.0 million due in 3-5 years[57] Debt and Financing - The company has a senior secured revolving line of credit of up to $25 million, with $5.0 million borrowed as of March 31, 2024, and an interest rate of SOFR plus 3.00%[62] - The company issued $30.0 million in 8.50% notes due 2029 on April 17, 2024, with an additional $4.5 million issued following the underwriters' over-allotment option[75] - The company has outstanding GECCM Notes totaling $45.6 million, GECCO Notes totaling $57.5 million, and GECCZ Notes totaling $40.0 million, with respective maturity dates in 2025, 2026, and 2028[64][65][66] Regulatory and Tax Considerations - The company is treated as a RIC for U.S. federal income tax purposes, allowing it to avoid corporate level taxes on distributed income[18] - The company has reset the capital gains incentive fee, eliminating $163.2 million of realized and unrealized losses incurred prior to April 1, 2022, impacting future incentive fees[17] - The company has made amendments to its Investment Management Agreement, eliminating $163.2 million of prior losses from future capital gains calculations[58] - The company is subject to various financial covenants, including maintaining net assets of not less than $65 million and asset coverage of at least 150%[63] Revenue Sources and Business Operations - The company expects to generate revenue and cost synergies through its subsidiary, Great Elm Specialty Finance, LLC, in which it holds approximately 87.5% equity[16] - The company’s primary revenue source is interest from debt investments, with additional revenue from dividends, capital gains, and various fees[21] - The company’s investment activity is influenced by factors such as the availability of capital for middle-market companies and the competitive investment environment[19] Stock Performance and Distributions - The company declared a distribution of $0.35 per share for the quarter ending June 30, 2024, fully sourced from distributable earnings[74] - The company's common stock has traded at a premium of up to 26.1% and a discount of up to 40.4% to NAV over the last two fiscal years[70] - Approximately $164.4 million of the company's debt investments bear interest at variable rates, which are influenced by market interest rates[76] Asset Coverage - As of March 31, 2024, the asset coverage ratio was approximately 180.2%, exceeding the minimum requirement of 150% under the Investment Company Act[68]

Exhibit 99.1 GREAT ELM CAPITAL CORP. ANNOUNCES FIRST QUARTER 2024 FINANCIAL RESULTS Company to Host Conference Call and Webcast at 5:00 PM ET Today PALM BEACH GARDENS, Florida, May 2, 2024 – Great Elm Capital Corp. ("we," "our," the "Company" or "GECC") (NASDAQ: GECC), a business development company, today announced its financial results for the first quarter ended March 31, 2024. First Quarter and Other Recent Highlights: Management Commentary "With 2024 underway, we were pleased to generate NII that cover ...

PALM BEACH GARDENS, Fla., April 09, 2024 (GLOBE NEWSWIRE) -- Great Elm Capital Corp. (the "Company" or "GECC") (NASDAQ:GECC) announced today the commencement of an underwritten public offering of unsecured notes due 2029 (the "Notes"). The Notes are expected to be listed on The Nasdaq Global Market under the trading symbol "GECCI," and to trade thereon within 30 days from the original issue date. The interest rate and other terms of the Notes will be determined by negotiations between the Company and the un ...

Great Elm Capital (GECC) came out with quarterly earnings of $0.43 per share, missing the Zacks Consensus Estimate of $0.44 per share. This compares to earnings of $0.30 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -2.27%. A quarter ago, it was expected that this company would post earnings of $0.43 per share when it actually produced earnings of $0.40, delivering a surprise of -6.98%.Over the last four quarters, the compan ...

Great Elm Capital Corporation (NASDAQ:GECC) Q4 2023 Results Conference Call February 29, 2024 8:30 AM ET Company Participants Garrett Edson - Investor Relations Matt Kaplan - President and Chief Executive Officer Keri Davis - Chief Financial Officer and Treasurer Mike Keller - President, Great Elm Specialty Finance Adam Kleinman - Chief Compliance Officer Operator Greetings. Welcome to the Great Elm Capital Corporation's Fourth Quarter and Full Year 2023 Earnings Conference Call. At this time, all participa ...

PALM BEACH GARDENS, Fla., Feb. 29, 2024 (GLOBE NEWSWIRE) -- Great Elm Capital Corp. ("we," "our," the "Company" or "GECC,") (NASDAQ:GECC), a business development company, today announced its financial results for the fourth quarter and full year ended December 31, 2023. Fourth Quarter and Other Recent Highlights: In February 2024, the Company raised $24 million of equity at Net Asset Value from a special purchase vehicle ("SPV"), supported by a $6 million investment by Great Elm Group ("GEG") into the SPV. ...

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, 2023 or | | Securities registered pursuant to Section 12(b) of the Act: | | | --- | --- | --- | | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | | Common stock, par value $0.01 per share | GECC | Nasdaq Global Market | | 6.75% Notes due 2025 | GECCM | Nasdaq Global ...