Great Elm Capital Corp. raises $15M equity via 1.29M share issuance to affiliate of Booker Smith

Great Elm Capital Corp.

Issued 1.29M shares at $11.65/share for gross proceeds of $15.0M to an affiliate of newly appointed director Booker Smith.
Shares represent 9.9% of outstanding common stock; transaction part of ongoing capital raise.
Over past 12 months, GECC has raised nearly $30M of equity at net asset value.
CEO Matt Kaplan says capital provides additional leverage for investment opportunities and reflects confidence in turnaround since March 2022.
Capital will support investment strategy focused on debt instruments, income-producing equity, and specialty finance.

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