Great Elm Group recasts FY2021 results under new convertible-note accounting

Great Elm Group, Inc.

Recast FY2021 (June 2021) financials to early-adopt ASU 2020-06 retrospectively from July 1, 2021.
5.0% Convertible Senior PIK Notes accounted as single liability; no separate equity component.
Prior-period interest expense, equity and EPS retrospectively adjusted; no restatement.
GECC filed 10-K amendment on April 19, 2022 for critical-audit-matter language only.
Filing does not update events after Sept 21, 2021; refer to more recent quarterly reports.

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