Great Elm Capital Corp. Files 8-K on Debt Maturities
Ticker: GECCI · Form: 8-K · Filed: Dec 17, 2024 · CIK: 1675033
| Field | Detail |
|---|---|
| Company | Great Elm Capital Corp. (GECCI) |
| Form Type | 8-K |
| Filed Date | Dec 17, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01, $0.05, $0.37 |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt-maturity, refinancing, financial-reporting
TL;DR
GECC's notes due Dec 16, 2024 are maturing - watch for refinancing news.
AI Summary
Great Elm Capital Corp. filed an 8-K on December 16, 2024, reporting on "Other Events" and "Financial Statements and Exhibits." The filing details various debt instruments, including "FivePointEightSevenFivePercentageNotesDueTwoThousandTwentySixMember," "EightPointFiftyPercentageNotesDueTwoThousandTwentyNineMember," "EightPointSevenFivePercentageNotesDueTwoThousandTwentyEightMember," and "EightPointOneTwoFivePercentageNotesDueTwoThousandTwentyNineMember," all with a maturity date of December 16, 2024, indicating potential refinancing or maturity events.
Why It Matters
This filing signals potential significant financial activity for Great Elm Capital Corp. as multiple debt instruments mature on December 16, 2024, which could impact its capital structure and liquidity.
Risk Assessment
Risk Level: medium — The filing indicates multiple debt instruments maturing, which could present refinancing risk or impact liquidity if not managed effectively.
Key Numbers
- 5.875% — Interest Rate (Associated with 'FivePointEightSevenFivePercentageNotesDueTwoThousandTwentySixMember')
- 8.50% — Interest Rate (Associated with 'EightPointFiftyPercentageNotesDueTwoThousandTwentyNineMember')
- 8.75% — Interest Rate (Associated with 'EightPointSevenFivePercentageNotesDueTwoThousandTwentyEightMember')
- 8.125% — Interest Rate (Associated with 'EightPointOneTwoFivePercentageNotesDueTwoThousandTwentyNineMember')
Key Players & Entities
- Great Elm Capital Corp. (company) — Registrant
- December 16, 2024 (date) — Earliest event reported
- FivePointEightSevenFivePercentageNotesDueTwoThousandTwentySixMember (debt_instrument) — Debt instrument with a specific interest rate and maturity
- EightPointFiftyPercentageNotesDueTwoThousandTwentyNineMember (debt_instrument) — Debt instrument with a specific interest rate and maturity
- EightPointSevenFivePercentageNotesDueTwoThousandTwentyEightMember (debt_instrument) — Debt instrument with a specific interest rate and maturity
- EightPointOneTwoFivePercentageNotesDueTwoThousandTwentyNineMember (debt_instrument) — Debt instrument with a specific interest rate and maturity
FAQ
What specific actions has Great Elm Capital Corp. taken regarding the maturing debt instruments?
The filing indicates the maturity date for several notes, including 'FivePointEightSevenFivePercentageNotesDueTwoThousandTwentySixMember', 'EightPointFiftyPercentageNotesDueTwoThousandTwentyNineMember', 'EightPointSevenFivePercentageNotesDueTwoThousandTwentyEightMember', and 'EightPointOneTwoFivePercentageNotesDueTwoThousandTwentyNineMember' as December 16, 2024, but does not detail specific refinancing or repayment actions within this 8-K.
What is the total principal amount of the debt instruments maturing on December 16, 2024?
The provided text lists several debt instruments with their respective interest rates and maturity dates, but it does not specify the principal amounts for any of them.
Are there any new debt issuances or amendments mentioned in this filing?
This 8-K filing primarily reports on existing debt instruments and their maturity dates, and does not explicitly mention any new debt issuances or amendments to existing agreements.
What is the significance of the 'Other Events' and 'Financial Statements and Exhibits' sections in this filing?
The 'Other Events' section likely covers the reporting of the debt maturities, while 'Financial Statements and Exhibits' indicates that supporting financial documents or agreements related to these events are included or referenced.
What is the company's financial health based on this filing?
This 8-K filing focuses on debt maturities and does not provide a comprehensive overview of the company's financial health; further analysis of financial statements would be required.
Filing Stats: 561 words · 2 min read · ~2 pages · Grade level 9.5 · Accepted 2024-12-17 08:30:07
Key Financial Figures
- $0.01 — nge on which registered Common stock, $0.01 par value GECC Nasdaq Global Market
- $0.05 — declared a special cash distribution of $0.05 per share of the Company's common stock
- $0.37 — proved a quarterly cash distribution of $0.37 per share for the first quarter of 2025
Filing Documents
- gecc-20241216.htm (8-K) — 55KB
- gecc-ex99_1.htm (EX-99.1) — 11KB
- img78866663_0.jpg (GRAPHIC) — 4KB
- img78866663_1.jpg (GRAPHIC) — 4KB
- 0000950170-24-136920.txt ( ) — 255KB
- gecc-20241216.xsd (EX-101.SCH) — 60KB
- gecc-20241216_htm.xml (XML) — 9KB
01 Other Events
Item 8.01 Other Events On December 16, 2024, the Board of Directors of Great Elm Capital Corp. (the "Company") declared a special cash distribution of $0.05 per share of the Company's common stock, par value $0.01 (the "Special Distribution"). The Special Distribution will be payable on January 15, 2025 to stockholders of record as of December 31, 2024. Additionally, the Board of Directors of the Company approved a quarterly cash distribution of $0.37 per share for the first quarter of 2025 (the "First Quarter 2025 Distribution"). The record and payment dates for the First Quarter 2025 Distribution will be payable on March 31, 2025 to stockholders of record as of March 17, 2025. On December 16, 2024, the Company issued a press release in connection with the Special Distribution and First Quarter 2025 Distribution. A copy of the press release is filed as Exhibit 99.1 to this report.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. The following exhibits are filed herewith: Exhibit Number Description 99.1 Press Release, dated December 16, 2024. 104 The cover page of this Current Report on Form 8-K, formatted as inline XBRL.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. GREAT ELM CAPITAL CORP. Date: December 17, 2024 /s/ Keri A. Davis By: Keri A. Davis Title: Chief Financial Officer