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GECC Raises $24 Million in Investment
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Great Elm Capital Corp. (GECC) successfully raised $24 million through the issuance of shares, with a $6 million investment from Great Elm Group, Inc. (GEG). GECC's preliminary fourth-quarter 2023 financial results were announced, with a net investment income of $0.43 per share and net assets of $98.7 million. The Board approved a quarterly cash distribution of $0.35 per share for the quarter ending March 31, 2024. GECC focuses on generating current income and capital appreciation through debt and income-generating equity securities, including investments in specialty finance businesses.
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How does GECC's focus on specialty finance businesses contribute to its investment approach?
How might the significant investment impact GECC's future financial strategies?
What factors influenced the decision to approve the quarterly cash distribution?
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