Great Elm Capital announces public offering of unsecured notes

Great Elm Capital (GECC) announced the commencement of an underwritten public offering of unsecured notes due 2030. The Notes are expected to be listed on The Nasdaq Global Market under the trading symbol “GECCG,” and to trade thereon within 30 days from the original issue date. The interest rate and other terms of the Notes will be determined by negotiations between the Company and the underwriters. The Company expects to use all or a portion of the net proceeds of this offering to redeem all of its outstanding 8.75% notes due 2028 and the remainder of the proceeds, if any, may be used to redeem or repurchase all or a portion of its outstanding 5.875% notes due 2026; to repurchase all or a portion of its outstanding 8.50% notes due 2029; (iii) to repurchase all or a portion of its outstanding 8.125% notes due 2029; to repay all or a portion of any borrowings outstanding under its revolving credit facility or for general corporate purposes, including making investments consistent with its investment objectives. Lucid Capital Markets, LLC and Piper Sandler & Co. are acting as joint book-running managers for the offering. Clear Street LLC, InspereX LLC and Janney Montgomery Scott LLC are acting as co-managers for the offering.