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Great Elm Capital Corp., 8.25% Notes due 6/30/2020
Ticker Symbol: FULLL* CUSIP: 390320208 Previous CUSIP: 359671203 Exchange: NGM
* NOTE: This security is no longer trading as of 10/20/2017
Security has been Called for: Friday, October 20, 2017
From the form N-23C-2 filed with the SEC on 9/20/2017 -- NOTIFICATION OF REDEMPTION OF SECURITIES -- The undersigned here notifies the Securities and Exchange Commission (the “Commission”) that it intends to redeem securities of which it is the issuer. 8.25% Notes due 2020 (CUSIP: 390320 208; NASDAQ: FULLL). The Notes will be redeemed on October 20, 2017. The Company will redeem all of the outstanding Notes ($33,645,525 aggregate principal amount) pursuant to the terms of the Base Indenture and the First Supplemental Indenture. ____________ Sept. 13, 2017 -- Great Elm Capital Corp. (NASDAQ:GECC) announced today the pricing of its public offering of approximately $28.4 million aggregate principal amount of its 6.50% notes due 2022, which will result in net proceeds to the Company of approximately $27.0 million after payment of underwriting discounts and commissions and estimated offering expenses payable by the Company. The Company intends to use the net proceeds from this offering and cash on hand to redeem all of its outstanding 8.25% notes due 2020, which currently amount to approximately $33.6 million plus accrued and unpaid interest.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Great Elm Capital Corp., formerly Full Circle Capital Corp., 8.25% Notes due 2020, issued in $25 denominations, redeemable at the issuer's option on or after 6/30/2016 at $25 per note plus accrued and unpaid interest, and maturing 6/30/2020. Interest distributions of 8.25% per annum ($2.0625 per annum or $0.515625 per quarter) will be paid quarterly on 3/30, 6/30, 9/30 & 12/30 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 at least 2 business days 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 - 6/26/2013 - 750,000 Notes @ $25.00/note.
Link to IPO Prospectus
Previous Name: Full Circle Capital Corp., 8.25% Notes due 2020 Changed: 11/03/2016
Market Value $18.8 Million
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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: 800South 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 - Peter A. Reed |
CFO - Michael J. Sell |
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