Great Elm Capital Corp. — Form 8-K
Filed August 5, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 42/100
What the filing says
Great Elm Capital Corp. reported Q2 2026 net investment income of $0.32/share and NAV of $7.95/share (3% QoQ growth). Investment adviser GECM waived $0.9M ($0.06/share) in Q2 incentive fees plus $2.8M ($0.20/share) waived through Q1—total $3.7M waived YTD. Company retired all $18.6M GECCO notes due June 2026, extended revolving credit maturity to 2029, and called $6.5M GECCI notes post-quarter. Board declared $0.25/share Q3 distribution (18.9% annualized yield). CoreWeave equity investment generated $2.6M distributions in Q2, totaling $9.5M received against $6.0M original investment.
Why this rating
Moderate development: fee waivers ($3.7M) equal 3.3% of $110.4M net assets; debt reduction is positive but routine capital management. NAV decline 35% YTD (from $12.10 to $7.95) not reversed. No material operational change or major risk.
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