GREAT ELM CAP.CORP.DL-,01

Great Elm Capital reported a 2.8% increase in net asset value in the second quarter to $110.4 million ($7.95 per share), driven by realized and unrealized investment gains. Net investment income was $0.32 per share (expectation $0.36) and revenue was $10.89 million (expectation $11.98 million); nevertheless, NII fully covered the quarterly dividend of $0.25. Management again waived accrued incentive fees, extended the credit facility through 2029, paid down GECCO bonds and holds roughly $45 million in liquidity. The company plans to shift the portfolio mix more toward private credit while remaining conservative and focused on protecting and growing NAV and maintaining dividend stability. » More on de.investing.com

Great Elm Capital reported Q3 2025 earnings per share of $0.20 (forecast $0.2625) and revenue of $10.64 million (expectation $10.77 million). Net asset value per share fell from $12.10 to $10.01, driven by the insolvency of First Brands and lower distributions from a CLO joint venture. The company recorded declining net investment income but maintains net assets of around $140 million and announces measures to monetize non‑interest‑bearing assets (about $20 million) as well as a conservative, income‑oriented investment approach. Management expects net investment income to recover in Q4. » More on de.investing.com

Great Elm Capital completed the overallotment option on its 7.75% notes due 2030, with additional notes in the principal amount of $7.5 million purchased, providing the company with net proceeds of about $7.3 million. The transaction supplements a publicly placed, bank‑underwritten offering originally for $50 million, from which net proceeds of about $48.1 million are expected; the 2030 notes trade under the ticker GECCG. In addition, the revolving credit facility with City National Bank was increased from $25 million to $50 million and the interest rate was reduced to SOFR plus 2.50%; analysts’ views range from a downgrade to neutral to a buy recommendation due to the high dividend yield. » More on de.investing.com