Great Elm Capital Corp. (“GECC”) Raises $15.0 Million of Equity

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].