---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-264872"
form_type: "8-K"
ticker: "GECC"
cik: "0001675033"
company_name: "Great Elm Capital Corp."
filed_at: "2025-11-04T23:59:59+00:00"
generated_at: "2026-05-17T00:39:17.518886+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# GECC Q3 NAV per share $10.01, NII $0.20; maintains $0.37 dividend, $10M buyback

## Summary
- Q3 NAV per share $10.01 vs $12.10 in Q2, drop driven by First Brands bankruptcy unrealized losses of ~$24.4M.
- NII per share $0.20 vs $0.51 in Q2; total investment income $10.6M, down from $14.3M due to lower CLO distributions.
- Board maintains $0.37 quarterly dividend (19.8% yield on $7.48 close) and authorizes new $10M share repurchase.
- Strengthened balance sheet: raised $27M equity, refinanced 8.75% notes with 7.75% notes, doubled revolver to $50M.
- Management expects NII recovery in Q4 with increased CLO distributions, normalized interest expense, new deployments.

## SEC filing metadata
- accession: 0001193125-25-264872
- form_type: 8-K
- ticker: GECC
- cik: 0001675033
- company_name: Great Elm Capital Corp.
- filed_at: 2025-11-04T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1675033/000119312525264872/0001193125-25-264872-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1675033/000119312525264872/gecc-20251104.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-264872
- JSON: https://secwatch.observer/filing/0001193125-25-264872.json
- Plain text: https://secwatch.observer/filing/0001193125-25-264872.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.