In This Story
Great Elm Capital Corp. (GECC-1.09%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total investment income of $39.3 million for the year, an increase from $35.8 million in 2023. This income includes interest income of $31.5 million and dividend income of $6.9 million.
Total expenses for the year were $26.5 million, up from $23.0 million in the previous year. This includes management fees of $4.5 million and interest expenses of $14.9 million.
Net investment income before taxes was reported at $12.8 million. After accounting for excise tax, net investment income was $12.5 million.
The company recorded a net realized gain of $1.9 million and a net change in unrealized depreciation of $10.8 million, leading to a net increase in net assets from operations of $3.6 million.
Great Elm Capital Corp. declared distributions totaling $14.9 million to stockholders during the year.
The company issued 3,942,457 shares of common stock during the year, resulting in net proceeds of $48.7 million.
As of December 31, 2024, the company reported total assets of $342.0 million and total liabilities of $205.9 million, resulting in net assets of $136.1 million.
The company's investment portfolio was valued at $332.7 million, with investments in 53 debt instruments across 44 companies and 18 equity investments in 14 companies.
Great Elm Capital Corp. maintained an asset coverage ratio of approximately 169.7%, in compliance with the minimum requirement of 150% under the Investment Company Act.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Great Elm Capital Corp. annual 10-K report dated March 10, 2025. To report an error, please email earnings@qz.com.