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Great Elm Capital Corp., 6.50% Notes due 6/30/2024
Ticker Symbol: GECCN* CUSIP: 390320505 Exchange: NGM
* NOTE: This security is no longer trading as of 9/07/2023
Security has been Called for: Thursday, September 7, 2023
Aug. 08, 2023 -- Great Elm Capital Corp. (the “Company” or “GECC”) (NASDAQ: GECC) announced today that it has caused notices to be issued to the holders of its 6.50% Notes due 2024 (CUSIP No. 390320 505; NASDAQ: GECCN) (the “Notes”) regarding the Company’s exercise of its conditional option to redeem, in whole, the issued and outstanding Notes, pursuant to subject to the condition precedent that the Company closes its public offering of 8.75% Notes due 2028 with sufficient proceeds to pay the redemption price for the Notes, plus accrued and unpaid interest.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Great Elm Capital Corp., 6.50% Notes due 2024, issued in $25 denominations, redeemable at the issuer's option on or after 6/30/2021 at $25 per note plus accrued and unpaid interest, and maturing 6/30/2024. Interest distributions of 6.50% per annum ($1.625 per annum or $0.40625 per quarter) will be paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the record date that will be 3/15, 6/15, 9/15 & 12/15 respectively (NOTE: the ex-dividend date is one business day prior to the record date). Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. This security was not rated by Moody’s or S&P at the time of its IPO. The Notes are unsecured and unsubordinated obligations of the company and will rank equally with all existing and future unsecured and unsubordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (GECC)
IPO - 6/12/2019 - 1.60 Million Notes @ $25.00 /note.
Link to IPO Prospectus
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 800 South Street, Suite 230, Waltham, MA 02453 |
| Main Phone Number |
617-375-3006 |
| Fax Number |
Not Available |
| Investor Relations
Meaghan K. Mahoney
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617-375-3006
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| CEO - Matt Kaplan |
CFO - Keri A. Davis |
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