GECC - Great Elm Capital Corp. (GECC) Raises $12 Million of Equity at Net Asset Value | Benzinga
PALM BEACH GARDENS, Fla., June 24, 2024 (GLOBE NEWSWIRE) -- Great Elm Capital Corp. (the "Company" or "GECC"), (NASDAQ:GECC), a business development company, today announced it issued approximately 1.0 million shares of the Company's common stock at a current net asset value of $12.03 per share, for an aggregate gross purchase price of $12 million, to Prosper Peak Holdings, LLC ("PPH").
Great Elm Group, Inc. ("GEG"), the parent of the Company's investment manager, made a $3 million investment in PPH, further aligning it with shareholders.
"We have raised $38 million of non-dilutive equity year-to-date, bolstering our efforts to expand the platform," said Matt Kaplan, GECC's Chief Executive Officer. "Our gross net asset value by dollars has grown by nearly 80% since management and the board were refreshed in March 2022, benefiting our shareholders as we leverage ...