secwatch.observer — SEC 8-K summary
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Issuer:     Great Elm Group, Inc. (GEG)
CIK:        0001831096
Form:       8-K
Filed at:   2023-05-05T23:59:59+00:00
Accession:  0000950170-23-018067
Event type: leadership
Sentiment:  neutral
Materiality: 0.85
Item codes: 2.02, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Great Elm Group CEO resigns, new CEO appointed; Q3 revenue up 92%, net loss narrows
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- Peter Reed resigned as CEO; Jason Reese appointed Chairman and CEO effective May 4, 2023.
- Reed severance: $20,833/month consulting, 9,183 GECC shares vesting, $300K in GECC shares, extended option exercises.
- Q3 fiscal 2023: revenue $1.9M (+92% YoY), net loss from continuing ops $0.5M (from $6.5M loss), Adj. EBITDA -$1.2M.
- DME business sold for $80M netting ~$26M cash + 346K Quipt shares; Forest sales raised ~$45M total.
- Cash and equivalents >$84M; AUM $630.7M, fee-paying AUM $438.3M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1831096/000095017023018067/0000950170-23-018067-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1831096/000095017023018067/geg-20230504.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-018067

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