Great Elm Capital Corp. Moves Forward with Unsecured Notes Offering

Great Elm Capital Corp. Public Offering Announcement

Great Elm Capital Corp. (the “Company” or “GECC”) (NASDAQ: GECC) has announced an underwritten public offering of unsecured notes maturing in 2029. These notes, referred to as the "Notes," are expected to list on The Nasdaq Global Market under the symbol “GECCH.” Trading is anticipated to start within the next 30 days from the initial issuance date. The Company and its underwriters will negotiate the interest rate and various other terms involved in this offering.

Strategic Use of Proceeds

The net proceeds from this offering are set to be combined with existing cash assets, with a primary focus on redeeming all previously issued 6.75% unsecured notes due in 2025. This strategy reflects Great Elm’s commitment to managing its debt effectively and optimizing its capital structure.

Management Team for the Offering

Leading this offering are Lucid Capital Markets, LLC, Janney Montgomery Scott LLC, and Piper Sandler & Co., taking on the role of joint book-running managers. Additionally, Clear Street LLC, InspereX LLC, and Ladenburg Thalmann & Co. Inc. are involved as co-managers, working collaboratively to ensure a successful venture into the market.

Regulatory Considerations

It is important to note that the announcement does not serve as an offer to sell or solicit any bids for purchasing these Notes or other securities. Any sale of these securities will not occur in jurisdictions where such an offer or sale would be deemed unlawful before completing the necessary registration or qualification under state or federal securities laws.

Registration Statement Details

A formal registration statement associated with these securities has been filed with the Securities and Exchange Commission (the “SEC”). However, it remains undeclared effective, meaning that the securities cannot be sold, nor can purchase offers be accepted, until the registration statement is active. All transactions will strictly follow outlined protocols, with information available in a prospectus once it is issued.

Investment Considerations

Investors must give due diligence to the investment objectives, risks, and potential expenses involved with investment in Great Elm Capital Corp. The preliminary prospectus, filed with the SEC, provides significant insights into these investment considerations along with detailed information about the Company. It’s crucial that interested parties read this document thoroughly before making any investment decisions.

About Great Elm Capital Corp.

Great Elm Capital Corp. stands out in the arena of business development companies, focusing on delivering both immediate income and long-term capital growth. The Company strategically invests in income-generating debt and equity instruments, especially within specialty finance sectors, showcasing its diversified approach to investment.

Looking to the Future

As Great Elm Capital Corp. advances its financial plans and refines its investment strategies, stakeholders are invited to monitor its developments closely. The prospective offering of unsecured notes is a strategic step that could significantly enhance the Company’s operational capabilities and market positioning.

Media Relations

If you have any inquiries regarding this offering or the Company’s financial strategies, please contact the investor relations team at:

Investor Relations
investorrelations@greatelmcap.com

Frequently Asked Questions

What is the focus of the unsecured notes offering by Great Elm Capital Corp.?

The offering aims to raise funds for redeeming existing unsecured notes and enhancing the Company’s capital structure.

Who is managing the public offering?

Lucid Capital Markets, LLC, Janney Montgomery Scott LLC, and Piper Sandler & Co. are principal managers of the offering, with other firms acting as co-managers.

What can investors expect from the Notes?

Investors can look forward to details regarding the interest rate and terms, which will be finalized through negotiations between Great Elm and its underwriters.

How will the proceeds from this offering be utilized?

Proceeds will be used primarily to redeem all outstanding 6.75% unsecured notes due in 2025.

Where can I find more details about the offering?

Details about the offering will be made available in the prospectus, which interested investors should review closely to understand the associated risks and rewards.

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