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Great Elm Capital Corp. Prices Public Offering of $50 Million of 7.75% Notes Due 2030
PALM BEACH GARDENS, Fla., Sept. 04, 2025 (GLOBE NEWSWIRE) -- Great Elm Capital Corp. (the “Company” or “GECC”) (NASDAQ: GECC) announced today the pricing of
About this update from Great Elm Group, Inc.
[{"type":"text","content":"PALM BEACH GARDENS, Fla., Sept. 04, 2025 (GLOBE NEWSWIRE) -- Great Elm Capital Corp. (the “Company” or “GECC”) (NASDAQ: GECC) announced today the pricing of its underwritten public offering of $50.0 million aggregate principal amount of its 7.75% notes due 2030 (the “Notes”), which will result in net proceeds to the Company of approximately $48.1 million after payment of underwriting discounts and commissions and estimated offering expenses payable by the Company. The Notes will mature on December 31, 2030, and may be redeemed in whole or in part at any time or from time to time at the Company’s option on or after December 31, 2027. The Company has also granted the underwriters a 30-day option to purchase up to an additional $7.5 million aggregate principal amount of Notes to cover over-allotments, if any. The closing of the transaction is subject to customary closing conditions, and the Notes are expected to be delivered on or about September 11, 2025. The Notes are expected to be listed on The Nasdaq Global Market under the trading symbol “GECCG,” and to trade thereon within 30 days from the original issue date. The Company expects to use the net proceeds from the offering to redeem all of its outstanding 8.75% notes due 2028 and the remainder of the proceeds may be used (i) to redeem or repurchase all or a portion of its outstanding 5.875% notes due 2026; (ii) to repurchase all or a portion of its outstanding 8.50% notes due 2029; (iii) to repurchase all or a portion of its outstanding 8.125% notes due 2029; (iv) to repay all or a portion of any borrowings outstanding under its revolving credit facility or (v) for general corporate purposes, including making investments consistent with its investment objectives. Lucid Capital Markets, LLC and Piper Sandler & Co. are acting as joint book-running managers for the offering. Clear Street LLC, InspereX LLC and Janney Montgomery Scott LLC are acting as co-managers for the offering. This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities in this offering or any other securities nor will there be any sale of these securities or any other securities referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securitie...