Great Elm Group, Inc. (“GEG”) Invests $6 Million to Support a $24 million Equity Raise for Great Elm Capital Corp. (“GECC”) at Net Asset Value
Great Elm Group, Inc. (GEG)
Company Research
Source: GlobeNewswire
PALM BEACH GARDENS, Fla., Feb. 08, 2024 (GLOBE NEWSWIRE) -- Great Elm Group, Inc. (the “Company” or “GEG”), (NASDAQ: GEG), an alternative asset manager, today announced it has invested $6 million in a special purpose vehicle which acquired $24 million of common stock in GECC at net asset value (“NAV”). “This transaction leverages GEG’s key attributes to create a beneficial outcome for all stakeholders,” said Jason Reese, GEG’s Chief Executive Officer. “Raising equity at NAV for our permanent capital vehicle, GECC, will help leverage our infrastructure and help scale our credit platform. In addition, we believe our investment in the special purpose vehicle will deliver a strong return and allow us to grow our recurring revenue streams. GEG is committed to scaling its existing businesses and executing its strategic growth initiatives.” Matt Kaplan, GECC’s Chief Executive Officer, said, “GECC is committed to generating durable returns for its shareholders, and we believe the transact
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News
- Great Elm Group Third Quarter 2024 Earnings: US$0.10 loss per share (vs US$0.016 loss in 3Q 2023) [Yahoo! Finance]Yahoo! Finance
- Great Elm Group Reports Fiscal 2024 Third Quarter Financial ResultsGlobeNewswire
- Great Elm Capital (GECC) Lags Q1 Earnings and Revenue Estimates [Yahoo! Finance]Yahoo! Finance
- Great Elm Capital (GECC) Misses Q4 Earnings Estimates [Yahoo! Finance]Yahoo! Finance
- Monomoy CRE, LLC Hires Experienced Engineering Professional Brian Fischbach, P.E. as Senior Manager, Civil Engineering [Yahoo! Finance]Yahoo! Finance
GEG
Sec Filings
- 5/15/24 - Form 4
- 5/8/24 - Form 10-Q
- 5/8/24 - Form 8-K
- GEG's page on the SEC website