secwatch.observer — SEC 8-K summary
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Issuer:     Great Elm Capital Corp. (GECC)
CIK:        0001675033
Form:       8-K
Filed at:   2024-08-01T23:59:59+00:00
Accession:  0000950170-24-089287
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1675033/000095017024089287/0000950170-24-089287-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1675033/000095017024089287/gecc-20240801.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-089287

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