Great Elm Capital Stock Moves After Debt Clearance
Great Elm Capital Corp. shares ticked up Thursday in a thin session, after Nasdaq suspended trading in the company’s 5.875% notes due 2026. The notes were redeemed as planned, dropping a near-term debt piece from the business development company’s balance sheet. The stock last traded at $6.03, up 3 cents on the day, leaving the company with a market cap near $84.3 million, per market data. The uptick wasn’t big, but timing was key: Nasdaq announced that trading in the GECCO notes would be halted starting May 28, right after the planned May 27 redemption. Holders are set to get $25 in cash plus $0.228472 interest per note.
