secwatch.observer — SEC 8-K summary
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Issuer:     Great Elm Capital Corp. (GECC)
CIK:        0001675033
Form:       8-K
Filed at:   2025-11-04T23:59:59+00:00
Accession:  0001193125-25-264872
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1675033/000119312525264872/0001193125-25-264872-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1675033/000119312525264872/gecc-20251104.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-264872

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