Great Elm Capital Corp. Announces Public Offering of Senior Notes
June 10 2019 - 4:30PM
Great Elm Capital Corp. (the “Company” or “GECC”) (NASDAQ: GECC)
announced today the commencement of an underwritten public offering
of senior notes due 2024 (the “Notes”). The Notes are expected to
be listed on The Nasdaq Global Market under the trading symbol
“GECCN,” and to trade thereon within 30 days from the original
issue date. The interest rate and other terms of the Notes will be
determined at the time of the pricing of the offering. The Notes
have a private credit rating of BBB from Egan-Jones Ratings
Company.*
The Company intends to use the net proceeds from this offering
to make investments consistent with its investment objectives and
for general corporate purposes. Pending the investment of the net
proceeds in investments consistent with its investment objectives,
the Company may invest the net proceeds of this offering in cash,
cash equivalents, U.S. government securities, money market mutual
funds and other high quality debt instruments that mature in one
year or less, or “temporary investments,” as appropriate.
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg
Thalmann Financial Services Inc. (NYSE American: LTS) and Janney
Montgomery Scott LLC are acting as joint book-running managers for
the offering. Incapital LLC is acting as lead manager for the
offering.
* A securities rating is not a recommendation to buy, sell or
hold securities and may be subject to revision or withdrawal at any
time.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the securities in this offering or
any other securities nor will there be any sale of these securities
or any other securities referred to in this press release in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to the registration or qualification under
the securities laws of such state or jurisdiction.
A registration statement relating to these securities
has been filed with the Securities and Exchange Commission (the
“SEC”) but has not yet been declared effective. These securities
may not be sold, nor may offers to buy be accepted, prior to the
time the registration statement becomes effective. The offering
will be made only by means of a prospectus, copies of which may be
obtained, when available, from:
Ladenburg Thalmann & Co.
Inc.277 Park Avenue, 26th
FloorNew York, New York 10172
or:1-800-573-2541or:
prospectus@ladenburg.com
Investors are advised to carefully consider the
investment objectives, risks and charges and expenses of the
Company before investing. The preliminary prospectus, dated June 6,
2019, which has been filed with the SEC, contains a description of
these matters and other important information about the Company and
should be read carefully before investing.
About Great Elm Capital Corp.
Great Elm Capital Corp. is an externally managed, specialty
finance company focused on investing in debt instruments of middle
market companies. GECC elected to be regulated as a business
development company under the Investment Company Act of 1940, as
amended. GECC targets special situations and catalyst-driven
investments as it seeks to generate attractive, risk-adjusted
returns through both current income and capital appreciation.
Cautionary Statement Regarding Forward-Looking
Statements
Statements in this communication that are not historical facts
are “forward-looking” statements within the meaning of the federal
securities laws. These statements are often, but not always, made
through the use of words or phrases such as “believe,” “expect,”
“anticipate,” “should,” “planned,” “will,” “may,” “intend,”
“estimate,” “aim,” “target,” “opportunity,” “tentative,”
“positioning,” “designed,” “create,” “seek,” “would,” “could,”
“continue,” “ongoing,” “upside,” “increases,” “potential” and
similar expressions. All such forward-looking statements involve
estimates and assumptions that are subject to risks, uncertainties
and other factors that could cause actual results to differ
materially from the results expressed in the statements. Among the
key factors that could cause actual results to differ materially
from those projected in the forward-looking statements are:
conditions in the credit markets, the price of GECC common stock
and the performance of GECC’s portfolio and investment manager.
Information concerning these and other factors can be found in
GECC’s Annual Report on Form 10-K and other reports GECC has filed
with the SEC. GECC assumes no obligation to, and expressly
disclaims any duty to, update any forward-looking statements
contained in this communication or to conform prior statements to
actual results or revised expectations except as required by law.
Readers are cautioned not to place undue reliance on these
forward-looking statements that speak only as of the date
hereof.
Media & Investor Contact:
Investor Relations+1 (617)
375-3006investorrelations@greatelmcap.com
Great Elm Capital (NASDAQ:GECC)
Historical Stock Chart
From Aug 2024 to Sep 2024
Great Elm Capital (NASDAQ:GECC)
Historical Stock Chart
From Sep 2023 to Sep 2024