Great Elm Capital Corp. Announces Redemption of 8.50% Notes

What Happened

• Great Elm Capital Corp. (GECC) filed an 8-K on July 20, 2026 announcing it has exercised its option to redeem $6,500,000 aggregate principal of its 8.50% Notes due 2029 (CUSIP 390320 885; NASDAQ: GECCI).
• The redemption is scheduled for August 19, 2026 and will be made at 100% of principal plus any accrued and unpaid interest through, but excluding, the Redemption Date. The Company issued a Notice to holders (attached as Exhibit 99.1).

Key Details

• Redemption amount: $6,500,000 aggregate principal of the 8.50% Notes due 2029.
• Redemption date: August 19, 2026.
• Redemption price: 100% of principal plus accrued and unpaid interest through, but excluding, the Redemption Date.
• Legal authority: pursuant to Section 1104 of the Indenture dated September 18, 2017 and Section 1.01(h) of the Sixth Supplemental Indenture dated April 17, 2024; Trustee is Equiniti Trust Company, LLC (f/k/a American Stock Transfer & Trust Company, LLC).

Why It Matters

• This action reduces the outstanding debt from these specific 8.50% Notes by $6.5M and will remove the related interest obligation for the redeemed principal going forward.
• Holders of the redeemed notes will receive full principal and accrued interest per the Notice; remaining noteholders are unaffected unless further redemptions are announced.
• For investors, this is a capital-structure event that modestly changes the Company’s debt profile and near-term cash flow requirements (due payment on the Redemption Date).