Great Elm Capital (GECC) came out with quarterly earnings of $0.32 per share, missing the Zacks Consensus Estimate of $0.33 per share. This compares to earnings of $0.44 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -3.03%. A quarter ago, it was expected that this company would post earnings of $0.42 per share when it actually produced earnings of $0.37, delivering a surprise of -11.90%. Over the last four quarters, the com ...

Exhibit 99.1 GREAT ELM CAPITAL CORP. ANNOUNCES SECOND QUARTER 2024 FINANCIAL RESULTS Company to Host Conference Call and Webcast at 5:00 PM ET Today PALM BEACH GARDENS, Florida, August 1, 2024 – Great Elm Capital Corp. ("we," "our," the "Company" or "GECC") (NASDAQ: GECC), a business development company, today announced its financial results for the second quarter ended June 30, 2024. Second Quarter and Other Recent Highlights: ▪ In June 2024, the Company raised $12 million of equity at Net Asset Value from ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common stock, par value $0.01 per share GECC Nasdaq Global Market 6.75% Notes due 2025 GECCM Nasdaq Global Market 5.875% Notes due 2026 GECCO Nasdaq Global Market 8.75% Notes due 2028 GECCZ Nasdaq Global Market 8.50% Notes due 2029 GECCI Nasdaq Global Market FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE AC ...

To access the call, please dial-in approximately five minutes before the start time and, when asked, provide the operator with passcode "GECC". An accompanying slide presentation will be available in pdf format via the "Events and Presentations" section of Great Elm Capital Corp.'s website here after the issuance of the earnings release. Source: Great Elm Capital Corp. Thursday, August 1, 2024 – 5:00 p.m. ET Webcast The call and presentation will also be simultaneously webcast over the internet via the "Eve ...

PALM BEACH GARDENS, Fla., July 30, 2024 (GLOBE NEWSWIRE) -- Great Elm Capital Corp. (the "Company" or "GECC"), (NASDAQ: GECC), a business development company, today announced it will release its financial results for the second quarter ended June 30, 2024 after the close of market trading on Thursday, August 1, 2024, and discuss these results in a conference call at 5:00 p.m. ET. Date/Time: Thursday, August 1, 2024 – 5:00 p.m. ET Webcast The call and presentation will also be simultaneously webcast over the ...

"We are pleased to announce this tack-on debt financing on the heels of our $12 million equity raise at NAV last month, further optimizing our weighted average cost of capital," said Matt Kaplan, GECC's Chief Executive Officer. "Our ability to attract capital from institutional partners is a testament to the strength of our platform." GECC is an externally managed business development company that seeks to generate current income and capital appreciation by investing in debt and income generating equity sec ...

PALM BEACH GARDENS, Fla., July 09, 2024 (GLOBE NEWSWIRE) -- Great Elm Capital Corp. (the "Company" or "GECC"), (NASDAQ:GECC), a business development company, today announced it issued $22 million of additional 8.50% notes due 2029 (the "GECCI Notes") in a registered direct offering to an institutional investor. "We are pleased to announce this tack-on debt financing on the heels of our $12 million equity raise at NAV last month, further optimizing our weighted average cost of capital," said Matt Kaplan, GEC ...

PALM BEACH GARDENS, Fla., June 24, 2024 (GLOBE NEWSWIRE) -- Great Elm Capital Corp. (the "Company" or "GECC"), (NASDAQ:GECC), a business development company, today announced it issued approximately 1.0 million shares of the Company's common stock at a current net asset value of $12.03 per share, for an aggregate gross purchase price of $12 million, to Prosper Peak Holdings, LLC ("PPH"). "We have raised $38 million of non-dilutive equity year-to-date, bolstering our efforts to expand the platform," said Matt ...

PALM BEACH GARDENS, Fla., June 24, 2024 (GLOBE NEWSWIRE) -- Great Elm Capital Corp. (the "Company" or "GECC"), (NASDAQ: GECC), a business development company, today announced it issued approximately 1.0 million shares of the Company's common stock at a current net asset value of $12.03 per share, for an aggregate gross purchase price of $12 million, to Prosper Peak Holdings, LLC ("PPH"). "We have raised $38 million of non-dilutive equity year-to-date, bolstering our efforts to expand the platform," said Mat ...

Financial Data and Key Metrics Changes - In Q1 2024, the company generated net investment income (NII) of $3.2 million or $0.37 per share, compared to $3.3 million or $0.43 per share in Q4 2023, reflecting a sequential decline attributed to cash drag and increased share count from equity issuance [7][55] - The net asset value (NAV) per share declined to $12.57 as of March 31, 2024, down from $12.99 at the end of 2023, primarily due to write-downs of inherited investments [18][20] - Total debt outstanding was approximately $148 million as of March 31, with cash and money market securities totaling around $9 million [9] Business Line Data and Key Metrics Changes - The company continued to rotate into higher-yielding investments, deploying approximately $64 million into new investments at average yields of about 13% while monetizing $29 million of assets at average yields of approximately 11% [68] - The rotation into floating rate investments increased, with 69% of the debt investment portfolio comprised of floating rate debt, up from 67% in the previous quarter [10] Market Data and Key Metrics Changes - The asset coverage ratio improved to approximately 180.2% as of March 31, compared to 169% at the end of 2023 [67] - The company raised nearly $60 million in fresh capital through various initiatives, including a successful public offering of $34.5 million in notes [6][17] Company Strategy and Development Direction - The company is focused on strategic refinements in its healthcare finance platform, despite a slow start to the year, and aims to execute on its investment pipeline in the coming months [12] - A new joint venture was formed to invest in CLO entities and related warehouse facilities, expected to generate significant distributions starting in the second half of the year [32][53] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the opportunities ahead, anticipating that NII in the second half of the year will significantly outpace the first half due to expected distributions from recent investments [19] - The company remains disciplined in capital deployment, focusing on investments that perform well in the current elevated rate environment and through economic cycles [36] Other Important Information - The company announced a cash distribution of $0.35 per share for the quarter ending June 30, 2024, equating to an 11% annualized dividend yield based on the March 31 NAV [35] - The company has appointed Jason Schwartz as Chief Credit Officer, bringing significant experience to enhance underwriting finance and operations [58] Q&A Session Summary Question: Can you characterize the 29 investments made in the quarter by category? - Over half of the investments were in first lien secured debt, with about $10.8 million in CLO subordinated notes [25] Question: How is the CLO initiative structured? - It is a joint venture where the company holds a 75% stake and the partner holds 25%, focusing on CLO securities and warehouse facilities [26] Question: How will the company access attractive investment opportunities in CLO equity? - The initial investment was about $10.8 million, with a total asset mix of approximately $300 million post-bond deal [27] Question: What is the role of the joint venture partner? - The partner is involved in the CLO business and has developed a strategic relationship with the company [41] Question: Are there pressures in the healthcare finance area? - The company focuses on asset-based loans and is keenly aware of cash flows, monitoring them closely to avoid risks [46]