Great Elm Capital Corp. Announces Public Offering of Unsecured Notes
June 16 2021 - 08:30AM
Great Elm Capital Corp. (the “Company” or “GECC”) (NASDAQ:
GECC) announced today the commencement of an underwritten public
offering of unsecured notes due 2026 (the “Notes”). The Notes are
expected to be listed on The Nasdaq Global Market under
the trading symbol “GECCO,” and to trade thereon within 30 days
from the original issue date. The interest rate and other terms of
the Notes will be determined by negotiations between the Company
and the underwriters.
The Company expects to use the net proceeds from the offering to
redeem all of its outstanding 6.50% notes due 2022 and to pay
related fees and expenses and for general corporate purposes.
Oppenheimer & Co. Inc., B. Riley Securities, Inc., Janney
Montgomery Scott LLC and Ladenburg Thalmann & Co. Inc. are
acting as joint book-running managers for the offering.
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:
Oppenheimer & Co.
Inc.85 Broad StreetNew York, New
York
10004FixedIncomeProspectus@opco.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
15, 2021, 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.
The information in this press release and the
preliminary prospectus is not complete and may be
changed.
About Great Elm Capital Corp.
Great Elm Capital Corp. is an externally managed, specialty
finance company that seeks to generate current income and capital
appreciation by investing in debt and income generating equity
securities, including investments in specialty finance businesses.
GECC elected to be regulated as a business development company
under the Investment Company Act of 1940, as amended.
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 “expect,” “anticipate,”
“should,” “will,” “estimate,” “designed,” “seek,” “continue,”
“upside,” “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, the performance of GECC’s portfolio
and investment manager and risks associated with the economic
impact of the COVID-19 pandemic on GECC and its portfolio
companies. Information concerning these and other factors can be
found in GECC’s registration statement, its Annual Report on Form
10-K and other reports filed with the U.S. Securities and
Exchange Commission. 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
Adam PriorThe Equity Group Inc.+1 (212)
836-9606aprior@equityny.com
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