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 - 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 Viewpoint - Oxford Square Capital Corp. is set to discuss its third quarter 2025 earnings in a conference call scheduled for November 4, 2025, at 9:00 AM Eastern time [1] Company Overview - Oxford Square Capital Corp. is a publicly-traded business development company that primarily invests in syndicated bank loans and, to a lesser extent, in debt and equity tranches of collateralized loan obligation (CLO) vehicles [2] - The company also engages in CLO investments that may include warehouse facilities, which are financing structures designed to aggregate loans for the formation of CLO vehicles [2]

Core Points - Crescent Capital BDC, Inc. will release its financial results for Q3 2025 on November 12, 2025, after market close [1] - A conference call to discuss the financial results will take place on November 13, 2025, at 12:00 p.m. Eastern Time [1][2] - The conference call will be accessible via a live webcast on the company's website and through a toll-free number [2] - A replay of the earnings call will be available on the Investor Relations section of the company's website [3] Company Overview - Crescent BDC is a business development company focused on maximizing total returns for stockholders through current income and capital appreciation [4] - The company provides capital solutions to middle market companies with strong growth prospects [4] - Crescent BDC is externally managed by Crescent Cap Advisors, LLC, a subsidiary of Crescent Capital Group LP [4] - Crescent Capital Group LP manages over $48 billion in assets and specializes in below investment grade credit [5] - The firm has over 30 years of experience in investing in marketable and privately originated debt securities [5]

Core Viewpoint - Prospect Capital Corporation has successfully priced an institutional offering of approximately $167 million in 5.5% Series A Notes due 2030, indicating strong interest from institutional investors and enhancing its financing sources [1][2]. Group 1: Offering Details - The offering consists of 5.5% Series A Notes with an aggregate principal amount of approximately $167 million, maturing on December 31, 2030 [1][4]. - The Notes will bear interest at a rate of 5.5% per annum, payable quarterly starting March 31, 2026 [2]. - The offering is expected to close on October 30, 2025, with trading on the Tel Aviv Stock Exchange commencing on November 2, 2025 [4]. Group 2: Financial Structure - The Notes are general senior unsecured obligations of Prospect and will rank equally with existing and future senior unsecured debt [3]. - The Notes are rated ilAA- by S&P Global Ratings Maalot Ltd., indicating a strong credit quality [5]. Group 3: Company Overview - Prospect Capital Corporation is a business development company that primarily lends to and invests in middle market privately-held companies, aiming for both current income and long-term capital appreciation [7].

Group 1 - Ares Capital (NASDAQ:ARCC) is set to announce Q3 earnings results on October 28th, before market open [4] - Analysts anticipate lower earnings for this quarter, with a consensus EPS estimate of $0.50, reflecting a year-over-year decrease of 13.8% [4] - The consensus revenue estimate for Ares Capital is $766.57 million, indicating a slight decline of 1.1% year-over-year [4]

Core Points - WhiteHorse Finance, Inc. has declared a special distribution of $0.035 per share, payable on December 10, 2025, to stockholders of record as of October 31, 2025 [1] - The company will release its third quarter financial results for the period ended September 30, 2025, on November 10, 2025, followed by a conference call at 2:00 p.m. ET [3] Distribution Details - Distributions are sourced from taxable earnings and may include a return of capital and/or capital gains, with specific tax characteristics reported to stockholders on Form 1099-DIV [2] Company Overview - WhiteHorse Finance is a business development company that invests in loans to privately held, lower middle market companies across various industries, managed by H.I.G. WhiteHorse Advisers, LLC, an affiliate of H.I.G. Capital, which manages over $70 billion in capital [6]

Core Insights - Capital Southwest Corporation has announced preliminary operating results for the second quarter of its 2026 fiscal year, indicating a focus on providing flexible financing solutions for middle market businesses [1][6] Financial Performance - The preliminary estimate of pre-tax net investment income for the second quarter of 2026 is projected to be between $0.60 and $0.61 per share [2] - The estimated net investment income for the same period is expected to be in the range of $0.56 to $0.57 per share [2] - The preliminary estimate of net asset value per share as of September 30, 2025, is between $16.60 and $16.64 [3] - Non-accruals as a percentage of the total investment portfolio are estimated at 2.6% at cost and 1.0% at fair value [3] Upcoming Events - Capital Southwest will release finalized second quarter 2026 results on November 3, 2025, after market close [4] - A live webcast is scheduled for November 4, 2025, at 11:00 a.m. Eastern Time for investors to participate [4][5] Company Overview - Capital Southwest is an internally managed business development company based in Dallas, Texas, with approximately $1.8 billion in investments at fair value as of June 30, 2025 [6] - The company focuses on middle market lending, supporting acquisitions and growth with investments ranging from $5 million to $50 million across various capital structures [6]

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 Points - PennantPark Floating Rate Capital Ltd. will report its fourth fiscal quarter results for the period ending September 30, 2025, on November 24, 2025, after market close [1] - A conference call to discuss the financial results will be held on November 25, 2025, at 9:00 a.m. Eastern Time, with access details provided for participants [2] Company Overview - PennantPark Floating Rate Capital Ltd. is a business development company that primarily invests in U.S. middle-market private companies through floating rate senior secured loans, including first lien secured debt, second lien secured debt, and subordinated debt [3] - The company may also engage in equity investments occasionally [3] Management Overview - PennantPark Investment Advisers, LLC manages PennantPark Floating Rate Capital Ltd. and is a prominent middle market credit platform with approximately $10 billion of investable capital, including potential leverage [4] - Since its establishment in 2007, the firm has provided access to middle market credit through a variety of financing solutions for private equity firms and their portfolio companies, as well as other middle-market borrowers [4]