{"id":905574,"date":"2025-11-04T19:14:09","date_gmt":"2025-11-05T00:14:09","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/great-elm-capital-corp-announces-third-quarter-2025-financial-results\/"},"modified":"2025-11-04T19:14:09","modified_gmt":"2025-11-05T00:14:09","slug":"great-elm-capital-corp-announces-third-quarter-2025-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/great-elm-capital-corp-announces-third-quarter-2025-financial-results\/","title":{"rendered":"Great Elm Capital Corp. Announces Third Quarter 2025 Financial Results"},"content":{"rendered":"

\nCompany to Host Conference Call and Webcast at 8:30 AM ET on November 5, 2025
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\n Board Maintains $0.37 Per Share Distribution and Announces $10 Million Share Repurchase Authorization<\/em>
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\n GECC Strengthened its Balance Sheet Raising $27 Million of Equity and Refinancing Highest Cost Debt <\/em>
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\n NAV Decline From $12.10 to $10.01 Per Share Primarily Due to Losses on First Brands; NII Lower As Anticipated Due to Uneven CLO JV Distributions and Lack of a Preference Share Dividend\u00a0<\/em>
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\n NII Expected to Recover in the Fourth Quarter with Increased CLO JV Distributions, <\/em>
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\n Normalized Interest Expense and Income Generation From New Deployments<\/em>
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PALM BEACH GARDENS, Fla., Nov. 04, 2025 (GLOBE NEWSWIRE) — Great Elm Capital Corp. (\u201cwe,\u201d \u201cour,\u201d the \u201cCompany\u201d or \u201cGECC\u201d) (NASDAQ: GECC), a business development company, today announced its financial results for the third quarter ended September 30, 2025.<\/p>\n

\n Management Commentary <\/strong>\n <\/p>\n

\u201cAs outlined in our October 7th<\/sup> press release, GECC was impacted by the First Brands bankruptcy which was the key driver of our NAV decline in the quarter to $10.01 per share as of September 30th<\/sup> from $12.10 per share at the end of the second quarter,\u201d said Matt Kaplan, GECC’s Chief Executive Officer. \u201cIn addition, as highlighted on our August conference call, we saw NII step down as anticipated, driven by the uneven cadence of CLO cash flows, the lack of a distribution on preference shares received in the second quarter, and elevated expenses associated with our baby bond refinancing. We currently expect NII to recover in the fourth quarter with normalized interest expense, increased CLO JV distributions and income from new deployments.\u201d<\/p>\n

\u201cWe continued to strengthen our balance sheet in the third quarter, raising approximately $27 million of equity. Additionally, we successfully refinanced our highest cost debt, the 8.75% GECCZ Notes, with the issuance of our new 7.75% GECCG Notes, and doubled the size of our revolving credit facility while reducing its interest rate, resulting in lower borrowing costs going forward,\u201d added Mr. Kaplan. \u201cLooking ahead, we have ample liquidity and our leverage is consistent with our historical operating levels at approximately 1.5x debt-to-equity. We have begun to realize capital distributions on our non-yielding CoreWeave equity-related investment, and we are well positioned to deploy capital into additional cash-generating investments.\u201d<\/p>\n

\n Shareholder Returns<\/strong>\n <\/p>\n