Great Elm Capital Corp. (“GECC”) Raises $12 Million of Equity at Net Asset Value
24 Juin 2024 - 1:30PM
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”).
Great Elm Group, Inc. (“GEG”), the parent of the
Company’s investment manager, made a $3 million investment in PPH,
further aligning it with shareholders.
“We have raised $38 million of non-dilutive
equity year-to-date, bolstering our efforts to expand the
platform,” said Matt Kaplan, GECC’s Chief Executive Officer. “Our
gross net asset value by dollars has grown by nearly 80% since
management and the board were refreshed in March 2022, benefiting
our shareholders as we leverage our infrastructure and build out
our portfolio verticals.”
Jason Reese, GEG’s Chief Executive Officer,
said, “GEG is committed to supporting and expanding its credit
platform, anchored by GECC. We are excited to announce our
participation in Prosper Peak, which will further grow GECC’s
capital base.”
About Great Elm Capital
Corp.GECC is an externally managed business development
company that seeks to generate current income and capital
appreciation by investing in debt and income generating equity
securities, including investments in specialty finance
businesses.
Cautionary Statement Regarding
Forward-Looking Statements Statements in this
communication that are not historical facts are “forward-looking”
statements within the meaning of the federal securities laws. These
statements are often, but not always, made through the use of words
or phrases such as “expect,” “anticipate,” “should,” “will,”
“estimate,” “designed,” “seek,” “continue,” “upside,” “potential”
and similar expressions. All such forward-looking statements
involve estimates and assumptions that are subject to risks,
uncertainties and other factors that could cause actual results to
differ materially from the results expressed in the statements.
Among the key factors that could cause actual results to differ
materially from those projected in the forward-looking statements
are: conditions in the credit markets, rising interest rates,
inflationary pressure, the price of GECC common stock and the
performance of GECC’s portfolio and investment manager. Information
concerning these and other factors can be found in GECC’s Annual
Report on Form 10-K and other reports filed with the Securities and
Exchange Commission. GECC assumes no obligation to, and expressly
disclaims any duty to, update any forward-looking statements
contained in this communication or to conform prior statements to
actual results or revised expectations except as required by law.
Readers are cautioned not to place undue reliance on these
forward-looking statements that speak only as of the date
hereof.
This press release does not constitute an offer
of any securities for sale.
Media & Investor Contact:Investor Relations
investorrelations@greatelmcap.com
Source: Great Elm Capital Corp.
Great Elm Capital (NASDAQ:GECC)
Graphique Historique de l'Action
De Août 2024 à Sept 2024
Great Elm Capital (NASDAQ:GECC)
Graphique Historique de l'Action
De Sept 2023 à Sept 2024