Great Elm Capital Corp. Announces Fourth Quarter and Full Year 2024 Financial Results

Core Viewpoint - Great Elm Capital Corp. reported strong financial results for 2024, raising nearly $150 million in capital and enhancing its cash-generating capabilities through a CLO joint venture, while also increasing its dividend by 5.7$0.17 and net investment income (NII) per share of $0.20, down from$0.39 in Q3 2024 [4][7]. - Total investment income for Q4 2024 was $9.1 million, with net expenses of approximately$7.0 million, resulting in net realized and unrealized losses of about $0.3 million [7]. - The net asset value (NAV) per share decreased to$11.79 as of December 31, 2024, from $12.99 at the end of Q4 2023 [4][20]. Portfolio and Investment Activity - As of December 31, 2024, GECC held total investments valued at$324.3 million, with a weighted average current yield on the debt portfolio of 12.4% [5][6]. - The company deployed approximately $47.2 million into 18 investments during Q4 2024, achieving a weighted average current yield of 12.9$57.5 million during the same quarter, with a weighted average current yield of 9.9% [6]. Liquidity and Capital Resources - As of December 31, 2024, GECC had cash and money market fund investments totaling approximately $8.4 million, with an undrawn revolving line of credit of$25.0 million [8]. - Total debt outstanding was $195.4 million, with various senior notes maturing between 2026 and 2029 [9]. Distributions - The Board of Directors approved a quarterly cash distribution of$0.37 per share for Q1 2025, reflecting a 13.7% annualized yield based on the closing market price of $10.78 on March 7, 2025 [10].