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Great Elm Capital Corp. Announces $12 Million Investment, Raises $38 Million in Non-Dilutive Equity YTD

Strategic Insights

— 1 min read

Great Elm Capital Corp. (GECC) has announced a significant investment milestone, issuing approximately 1.0 million shares of its common stock to Prosper Peak Holdings, LLC (PPH) at a current net asset value of $12.03 per share. This investment brings the total non-dilutive equity raised by GECC to $38 million in the first half of the year. The move is seen as a strategic step to bolster the company's efforts to expand its platform and leverage its infrastructure to build out its portfolio verticals.

Key Takeaways:

  • GECC has raised $38 million in non-dilutive equity year-to-date, marking a significant achievement in its expansion efforts.
  • The company's gross net asset value by dollars has grown by nearly 80% since management and the board were refreshed in March 2022.
  • Prosper Peak Holdings, LLC (PPH) has invested in GECC, further aligning it with shareholders and supporting the credit platform's growth.
  • Great Elm Group, Inc. (GEG), the parent of GECC's investment manager, has made a $3 million investment in PPH, extending its support for the company's growth initiatives.
  • GECC aims to generate current income and capital appreciation by investing in debt and income-generating equity securities, including investments in specialty finance businesses.
  • The company seeks to leverage its infrastructure and build out its portfolio verticals to drive growth and benefit its shareholders.

Statistics:

  • $38 million: Total non-dilutive equity raised by GECC in the first half of the year.
  • 80%: Increase in the company's gross net asset value by dollars since management and the board were refreshed in March 2022.
  • 1.0 million: Number of shares of GECC's common stock issued to PPH at a current net asset value of $12.03 per share.
  • $12 million: Aggregate gross purchase price for the shares issued to PPH.
  • $3 million: Amount invested by GEG in PPH to further support the company's growth initiatives.

Sources:

  • [1] GlobeNewswire (MIL-OSI) - PALM BEACH GARDENS, Fla., June 24, 2024 (GLOBE NEWSWIRE) -
  • [2] Great Elm Capital Corp. - Investor Relations - investorrelations@greatelmcap.com
  • [3] Great Elm Capital Corp. - Official Website -
  • [4] Great Elm Group, Inc. - Official Website -

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