Great Elm Capital announces unsecured notes offering due 2030

Great Elm Capital Corp. (NASDAQ: 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 within 30 days from the original issue date.

The interest rate and other terms of the notes will be determined through negotiations between the company and underwriters. Great Elm Capital expects to use all or a portion of the net proceeds to redeem all of its outstanding 8.75% notes due 2028.

The remainder of the proceeds may be used to redeem or repurchase all or a portion of its outstanding 5.875% notes due 2026, repurchase all or a portion of its outstanding 8.50% notes due 2029, or repurchase all or a portion of its outstanding 8.125% notes due 2029. The company may also use proceeds to repay borrowings 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.

A registration statement on Form N-2 (No. 333-283503) relating to these securities is on file with and has been declared effective by the Securities and Exchange Commission. A preliminary prospectus supplement and accompanying prospectus relating to the notes offering will be filed with the SEC.

Great Elm Capital Corp. is an externally managed business development company that seeks to generate current income and capital appreciation by investing in debt and income generating equity securities, including investments in specialty finance businesses and CLOs.

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