05:56 PM EDT, 09/12/2024 (MT Newswires) -- Great Elm Capital ( GECC ) said Thursday it priced a $36 million underwritten public offering of 8.125% notes due 2029.

The company plans to use about $34.4 million in net proceeds along with cash at hand to buy all of its outstanding 6.75% unsecured notes due 2025.

Separately, the company said it exercised its option to redeem all issued and outstanding 6.75% unsecured notes due 2025. The redemption of notes is conditional on completion of the underwritten public offering.

Great Elm plans to close the offering around Sept. 19 and granted underwriters an option to buy up to an additional $5.4 million in notes.

Price: 10.14, Change: -0.01, Percent Change: -0.10