Amended Statement of Beneficial Ownership (sc 13d/a)
July 11 2019 - 6:05AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE
13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 17)
Great Elm
Capital Corp.
(Name of Issuer)
Common Stock, $0.01 Par Value
(Title of Class of Securities)
390320109
(CUSIP Number)
MAST Capital Management, LLC
31 St. James Avenue, 6th Floor
Boston, MA 02116
(617)
375-3000
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
July 9, 2019
(Date of
Event which Requires Filing of this Statement)
If the filing person has
previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following
box. ☐
The information required on the remainder of this cover page shall not be deemed to be filed for the purpose of
Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
CUSIP No. 390320109
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1
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NAME OF
REPORTING PERSONS
MAST Capital Management, LLC
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER
OF A GROUP
(a) ☐ (b) ☐
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3
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SEC USE ONLY
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4
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SOURCE OF FUNDS
AF/OO
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5
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CHECK IF DISCLOSURE OF LEGAL
PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
☐
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6
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CITIZENSHIP OR PLACE OF
ORGANIZATION
Delaware
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NUMBER OF SHARES
BENEFICIALLY OWNED BY EACH REPORTING
PERSON
WITH
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7
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SOLE VOTING POWER
0
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8
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SHARED VOTING POWER
911,208
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9
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SOLE DISPOSITIVE POWER
0
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10
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SHARED DISPOSITIVE POWER
911,208
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
911,208
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12
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CHECK BOX IF THE AGGREGATE AMOUNT IN
ROW (11) EXCLUDES CERTAIN SHARES
☐
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT
IN ROW (11)
8.81%
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14
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TYPE OF REPORTING PERSON
IA, OO
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CUSIP No. 390320109
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1
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NAME OF
REPORTING PERSONS
David J. Steinberg
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER
OF A GROUP
(a) ☐ (b) ☐
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3
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SEC USE ONLY
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4
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SOURCE OF FUNDS
AF/OO
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5
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CHECK IF DISCLOSURE OF LEGAL
PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
☐
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6
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CITIZENSHIP OR PLACE OF
ORGANIZATION
United
States
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NUMBER OF SHARES
BENEFICIALLY OWNED BY EACH REPORTING
PERSON
WITH
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7
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SOLE VOTING POWER
0
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8
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SHARED VOTING POWER
911,208
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9
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SOLE DISPOSITIVE POWER
0
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10
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SHARED DISPOSITIVE POWER
911,208
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
911,208
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12
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CHECK BOX IF THE AGGREGATE AMOUNT IN
ROW (11) EXCLUDES CERTAIN SHARES
☐
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT
IN ROW (11)
8.81%
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14
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TYPE OF REPORTING PERSON
HC, IN
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This Amendment No. 17 (this Amendment) to the Schedule 13D (the Schedule
13D) is being filed on behalf of MAST Capital Management, LLC, a Delaware limited liability company (MAST Capital), and Mr. David J. Steinberg, the principal of MAST Capital (together with MAST Capital, the
Reporting Persons), relating to Common Stock, $0.01 Par Value (the Common Stock), of Great Elm Capital Corp., a Maryland corporation (the Issuer).
This Amendment relates to Common Stock of the Issuer purchased by MAST Capital through the accounts of certain private funds (collectively,
the MAST Accounts). MAST Capital serves as the investment manager to the MAST Accounts and may direct the vote and disposition of 911,208 shares of Common Stock held by the MAST Accounts. As the principal of MAST Capital,
Mr. Steinberg may direct the vote and disposition of the 911,208 shares of Common Stock held by the MAST Accounts.
The information
set forth in response to each Item below shall be deemed to be a response to all Items where such information is relevant. The Schedule 13D is supplementally amended as follows.
Item 5.
Interest in Securities of the Issuer
(a) The aggregate percentage of Common Stock reported to be owned by the Reporting Persons is based upon 10,343,518 shares of Common Stock
outstanding, which is the total number of shares of Common Stock outstanding as of May 9, 2019, as reported in the Issuers Form
10-K
filed with the Securities and Exchange Commission by the Issuer
on May 14, 2019.
MAST Capital, as the investment manager of the MAST Accounts, may be deemed to beneficially own the 911,208 shares
of Common Stock held by the MAST Accounts, representing approximately 8.81% of the issued and outstanding shares of Common Stock of the Issuer.
In addition, Mr. Steinberg, as the principal of MAST Capital, the investment manager of the MAST Accounts, may also be deemed to
beneficially own the 911,208 shares of Common Stock beneficially owned by the MAST Accounts, representing approximately 8.81% of the issued and outstanding shares of Common Stock of the Issuer.
MAST Capital and Mr. Steinberg disclaim beneficial ownership of the Common Stock held by the MAST Accounts except to the extent of their
pecuniary interest therein.
(b) MAST Capital and Mr. Steinberg have the shared power to vote and dispose of the Common Stock owned by
the MAST Accounts reported in this Schedule 13D.
The filing of this Schedule 13D shall not be construed as admission that MAST Capital or
Mr. Steinberg is, for the purposes of Section 13(d) or 13(g) of the Act, or otherwise, the beneficial owner of any of the 911,208 shares of Common Stock owned by the MAST Accounts. Pursuant to Rule
13d-4,
MAST Capital and Mr. Steinberg disclaim all such beneficial ownership.
(c) The trading
dates, number of shares of Common Stock purchased or sold, and the price per share of Common Stock for all transactions by the Reporting Persons in shares of Common Stock within the last 60 days, all of which were brokered transactions, are set
forth below.
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Trade Date
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Shares Purchased (Sold)
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Price / Share
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Mast Admiral Master Fund, L.P.
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Mast Select Opportunities
Master Fund, L.P.
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6/6/2019
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(2,300)
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8.5107
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6/7/2019
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(3,100)
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8.6061
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6/10/2019
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(3,600)
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8.636
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6/11/2019
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(1,300)
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8.7508
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6/12/2019
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(1,200)
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8.79
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6/13/2019
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(7,000)
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8.8144
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6/14/2019
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(3,500)
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8.8272
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6/17/2019
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(4,800)
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8.8222
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6/18/2019
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(3,000)
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8.8389
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6/19/2019
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(3,400)
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8.8536
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6/20/2019
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(6,400)
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8.8568
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6/21/2019
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(11,000)
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8.926
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6/24/2019
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(4,800)
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8.9323
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6/25/2019
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(4,300)
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8.9231
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6/26/2019
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(6,900)
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8.888
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6/27/2019
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(4,000)
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8.7583
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6/28/2019
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(4,900)
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8.7629
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7/1/2019
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(4,000)
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8.6643
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7/2/2019
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(3,600)
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8.6886
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7/3/2019
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(7,000)
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8.5399
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7/5/2019
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(6,200)
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8.5389
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7/8/2019
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(4,000)
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8.5551
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7/9/2019
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(4,000)
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8.5515
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Other than the foregoing transactions and those reported on previous filings, the Reporting Persons have not
purchased or sold any shares of Common Stock within the last 60 days.
(d) The 911,208 shares of Common Stock held by the MAST Accounts
consists of the following amounts: (i) 71,547 shares of Common Stock held by Mast Admiral Master Fund, L.P. and (ii) 839,661 shares of Common Stock held by Mast Select Opportunities Master Fund, L.P.
(e) Not applicable.
SIGNATURES
After reasonable inquiry and to the best of each of the undersigneds knowledge and belief, each of the undersigned, severally and not jointly, certified
that the information set forth in this statement is true, complete and correct.
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Dated: July 10, 2019
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MAST CAPITAL MANAGEMENT, LLC
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By:
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/s/ David J. Steinberg
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Name: David J. Steinberg
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Title: Authorized Signatory
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/s/ David J. Steinberg
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David J. Steinberg
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