secwatch.observer — SEC 8-K summary
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Issuer:     Great Elm Capital Corp. (GECC)
CIK:        0001675033
Form:       8-K
Filed at:   2024-07-10T23:59:59+00:00
Accession:  0001133228-24-006505
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Great Elm Capital issues $22M additional 8.50% notes due 2029 in registered direct offering
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- GECC issued $22M additional aggregate principal of 8.50% Notes due 2029 (GECCI) to an institutional investor.
- Notes mature April 30, 2029, bear 8.50% interest payable quarterly, and are unsecured obligations.
- Net proceeds ~$21.4M; proceeds for general corporate purposes, may redeem/repurchase other notes or repay bank borrowings.
- CEO Matt Kaplan: tack-on debt financing follows $12M equity raise at NAV, optimizes weighted average cost of capital.
- Prior $34.5M of same notes outstanding; total now $56.5M in 8.50% Notes due 2029.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1675033/000113322824006505/0001133228-24-006505-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1675033/000113322824006505/gecc-html8113_8k.htm
  HTML page:      https://secwatch.observer/filing/0001133228-24-006505

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