GECC Q2 NII $0.32 vs $0.37 Q1; NAV $12.06; illiquid asset write-downs $0.39/sh

Great Elm Capital Corp.

2024-Q2 EPS reported -$0.20

Net investment income $3.1M ($0.32/sh) vs $3.2M ($0.37/sh) Q1; GAAP EPS ($0.14).
NAV per share $12.06, down from $12.57 Q1, hurt by $0.39/sh write-downs on previously non-accrual illiquid assets.
Raised $12M equity at NAV from Prosper Peak in June; issued $34.5M 8.50% notes Apr & $22M more July.
Board declared $0.35/sh quarterly dividend, payable Sep 30, record Sep 16; 13.0% yield on $10.73 market price.
Debt portfolio yield 13.1%; deployed $108.9M at 11.6% yield; asset coverage 171.0% (down from 180.2% Q1).

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