Great Elm Capital Corp. (NASDAQ:GECC) Files An 8-K Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition.
On March 19, 2020, the registrant issued the press release furnished as exhibit 99.1 to this report.
The foregoing information (including the exhibit hereto) is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 8.01 Other Events.
On March 4, 2020, our Board approved monthly distributions for the second quarter of 2020 at a rate of $0.083 per share per month. The distributions will be paid in cash or shares of the Company’s common stock at the election of the shareholders, although the total amount of cash to be distributed to all shareholders will be limited to approximately 20% of the total distributions to be paid to all shareholders. The remainder of the distributions (approximately 80%) will be paid in the form of shares of the Company’s common stock. These distributions are being made in accordance with certain applicable Treasury regulations and private letter rulings on cash/stock dividends issued by the IRS over the years that allow a publicly-traded regulated investment company to satisfy its distribution requirements from distributions paid partly in common stock provided that at least 20% of the distributions are payable in cash and certain other requirements are satisfied.
The schedule of distribution payments is as follows:
Item 9.01 Financial Statements and Exhibits.
The following exhibit is furnished with this report but shall not be deemed filed:
Great Elm Capital Corp. Exhibit
EX-99.1 2 gecc-ex991_18.htm EX-99.1 gecc-ex991_18.htm Exhibit 99.1 Great Elm Capital Corp. Announces FOURTH Quarter AND YEAR END 2019 Financial Results; FOURTH Quarter Net Investment Income of $0.25 Per Share; BOARD SETS SECOND QUARTER 2020 DISTRIBUTION OF $0.083 PER SHARE PER MONTH; MAINTAINS STRONG BALANCE SHEET WALTHAM,…
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