Great Elm Capital Corp. (NASDAQ:GECC) Files An 8-K Results of Operations and Financial ConditionItem 2.02 Results of Operations and Financial Condition.
On March 29, 2017, the registrant issued the press release and published a presentation furnished as exhibits 99.1 and 99.2, respectively, to this report.
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
As a result of Mr. Davis’s resignation described below, the registrant’s Board of Directors (the “Board”) did not have a majority of independent directors as required by NASDAQ Marketplace Rule 5605(b)(1) and the audit committee of the Board did not have three members as required by NASDAQ Marketplace Rule 5605(c)(2)(A). The registrant notified the NASDAQ Global Market (“Nasdaq”) of its non-compliance on March 28, 2017.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 24, 2017, Eugene I. Davis resigned from the Board. Mr. Davis’ resignation was not the result of any disagreement with the registrant on on any matter relating to the registrant’s operations, policies or practices. Mr. Davis was a member of each of the Board’s audit committee, nominating and governance committee and compensation committee. Mr. Davis’ resignation letter is furnished as exhibit 99.3 to this report.
Item 8.01 Other Events.
On March 29, 2017, the registrant issued a press release furnished as exhibit 99.4 to this report announcing that the registrant intends to make an offer to purchase up to $10 million of its common stock, par value $0.01 per share (the “Common Stock”), at a price per share not less than $11.50 nor more than $12.17. The registrant will file a Schedule TO and distribute the offer to purchase and related documents to all record holders of Common Stock.
Item 9.01 Financial Statements and Exhibits.
The exhibit index following the page to this report is incorporated herein by reference.
Great Elm Capital Corp. (NASDAQ:GECC) Recent Trading Information
Great Elm Capital Corp. (NASDAQ:GECC) closed its last trading session up +0.11 at 11.02 with 11,276 shares trading hands.
