Great Elm Capital Corp. announced that it has entered into a Share Purchase Agreement with Great Elm Strategic Partnership I, LLC , a fund managed by returning investor Great Elm Capital Management, Inc. to issue 1,850,424 shares at an issue price of $12.97 per share for the gross proceeds of $23,999,999.28 on February 8, 2024. The Common Stock was issued in a private placement exempt from registration under Section 4(a)(2) of the Securities Act of 1933 (the ?Securities Act?).

The Company and the Purchaser are executing and delivering this Agreement in reliance upon the exemption from securities registration afforded by Section 4(a)(2) under the Securities Act of 1933, as amended (the ?Securities Act ?), and Rule 506(b) of Regulation D (?Regulation D ?) as promulgated by the United States Securities and Exchange Commission (the ?SEC ?) under the Securities Act.