secwatch.observer — SEC 8-K summary
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Issuer:     Great Elm Capital Corp. (GECC)
CIK:        0001675033
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0000950170-24-052084
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

GECC Q1 NII $0.37/share covers $0.35 dividend; NAV falls to $12.57 on $0.55 write-downs
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- NII per share $0.37 vs $0.43 in Q4 2023; EPS ($0.05) due to unrealized losses.
- NAV per share $12.57, down $0.42 from Dec 31, 2023, hit by $0.55 write-downs on illiquid legacy assets.
- Asset coverage ratio improved to 180.2% (pro forma post-notes ~166.9%) from 169.0%.
- Issued $34.5M of GECCI 8.50% notes due 2029 after quarter-end; repaid $5M revolver balance.
- Board maintained $0.35 quarterly dividend, payable June 28 to holders of record June 14.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1675033/000095017024052084/0000950170-24-052084-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1675033/000095017024052084/gecc-20240502.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-052084

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer