Business Context and Reporting Period
Great Elm Capital Corp. filed a Form 8-K Current Report on August 20, 2024. The filing discloses the entry into a material definitive agreement regarding a joint venture focused on collateralized loan obligation (CLO) investments.
Key Financial Metrics
This filing is a current report regarding a corporate agreement and does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity metrics. The filing text does not provide a clear value for these items.
Material Changes
The primary material change reported is the execution of a Second Amended and Restated Limited Liability Company Agreement on August 20, 2024. This agreement governs the CLO Formation JV, LLC, a joint venture formed to invest in CLO entities and related warehouse facilities.
- Ownership Structure: Great Elm Capital Corp. owns 71.25% of the membership interests.
- Partner Ownership: Green SPE, LLC owns 23.75%, and Crown LB, LLC owns 5.0%.
Guidance, Outlook, and Risks
The filing does not provide specific financial guidance, outlook, or management commentary beyond the description of the joint venture's purpose. The agreement text is incorporated by reference as Exhibit 10.1, with certain portions redacted and schedules omitted per Regulation S-K.
Investor Verification Checklist
- Review the full text of the Second Amended and Restated Limited Liability Company Agreement (Exhibit 10.1) to understand governance and capital commitment terms.
- Verify the specific investment strategy and risk profile of the CLO Formation JV, LLC.
- Confirm the capital contribution requirements for Great Elm Capital Corp. based on its 71.25% ownership stake.
- Check for any subsequent filings regarding the deployment of capital into the joint venture.