Great Elm Capital Group, Inc. (NASDAQ:GEC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 14, 2017, the board of directors of the registrant was expanded to six persons, and Matthew A. Drapkin was elected to the registrant’s board of directors. Matthew A. Drapkin is CEO & Portfolio Manager of Northern Right Capital, a value-oriented asset manager focused on constructive activist investing in small cap public companies.
Mr. Drapkin is currently on the board of directors of Intevac, a publicly-traded provider of equipment solutions to the hard-disk drive industry and high-sensitivity imaging products, primarily for the defense market, and PRGX Global, a global provider of recovery audit services to retail and commercial clients. Mr. Drapkin previously served as Chairman of the Board of Ruby Tuesday, a restaurant operator, Lead Independent Director of Hot Topic, a specialty retailer, and a director of Xura (formerly Comverse), a provider of telecommunications businesses solutions, Glu Mobile, a mobile gaming company, Plato Learning, a provider of curriculum management, and Alloy, a diversified media company.
Before joining Northern Right Capital Management in December 2009, Mr. Drapkin had extensive investment experience, including his work as head of research, special situations, and private equity at ENSO Capital, a New York-based hedge fund. From 2003 to 2008, Mr. Drapkin worked at MacAndrews & Forbes, participating in more than $3 billion of transactions, including Scientific Games, Deluxe Entertainment Services, AM General, and Scantron. Prior to MacAndrews, Mr. Drapkin served as general manager of two of Conde Nast publication’s wholly-owned Internet sites, Epicurious.com and Concierge.com, and headed Conde Nast’s internet venture investment effort.
Mr. Drapkin began his career at Goldman, Sachs and Co.
Mr. Drapkin was elected to the registrant’s board of directors as a result of exercise of rights to appoint two members of the registrant’s board of directors held by Mast Credit Opportunities I Master Fund Limited, Mast OC I Master Fund LP, Mast Select Opportunities Master Fund LP, and Mast Admiral Master Fund LP. under the Securities Purchase Agreement, dated June 28, 2013, that the registrant previously filed with the SEC. Mr. Drapkin has no other items or relationships required to be disclosed by Item 401 of Regulation S-K.
About Great Elm Capital Group, Inc. (NASDAQ:GEC)
Great Elm Capital Group, Inc., formerly Unwired Planet, Inc., is a holding company. The Company makes investments in businesses and assets in various industries. The Company’s investment for long-term value creation is in the asset management business. The Company continues to explore other opportunities in the investment management business, including other business development companies (BDCs) that trade at a discount to their net asset value. The Company intends to build a diversified investment company consisting of the following three business lines: investment management, financial products and merchant banking. It is embarking on a program of creating bespoke financial products and creating a pipeline of acquisition opportunities. The Company’s subsidiary is Great Elm Capital Corporation (GECC). Great Elm Capital Group, Inc. (NASDAQ:GEC) Recent Trading Information
Great Elm Capital Group, Inc. (NASDAQ:GEC) closed its last trading session 00.00 at 3.30 with 70,839 shares trading hands.