{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-232655","form_type":"8-K","ticker":"GECC","cik":"0001675033","company_name":"Great Elm Capital Corp.","filed_at":"2025-10-07T23:59:59+00:00","discovered_at":"2026-05-14T18:02:40.118179+00:00","generated_at":"2026-05-17T04:27:33.532268+00:00","sec_items":["2.02","8.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Great Elm Capital Corp. updates on First Brands bankruptcy; expects ~$1.15-$1.25/sh NAV hit","bullets":["First Brands (auto parts) bankruptcy: GECC places $9.3M First Lien and $16.2M Second Lien loans on non-accrual; direct NAV impact ~$16.5M, or $1.15-$1.25/sh.","CLO investments add ~$0.25/sh NAV impact from First Brands exposure (0.9% of CLO portfolios as of June 30).","Capital activity: Q3 share issuances raised $27M, issued $50M of 7.75% notes due 2030, redeemed $40M of 8.75% notes.","Remaining First Lien $4.8M principal valued at $1.7M (35%), Second Lien $16.2M principal valued at $0.9M (5.5%).","Pro forma debt-to-equity ~1.5x; over $20M cash deployable, $50M credit line undrawn."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-232655","json":"https://secwatch.observer/filing/0001193125-25-232655.json","markdown":"https://secwatch.observer/filing/0001193125-25-232655.md","text":"https://secwatch.observer/filing/0001193125-25-232655.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1675033/000119312525232655/0001193125-25-232655-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1675033/000119312525232655/d31018d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T04:27:33.532268+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}