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Great Elm Group, Inc. Prices Public Offering of $25,000,000 of 7.25% Notes Due 2027

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Great Elm Group, Inc.
Great Elm Group, Inc.

WALTHAM, Mass., June 07, 2022 (GLOBE NEWSWIRE) -- Great Elm Group, Inc. (the “Company” or “GEG”) (NASDAQ: GEG) announced today the pricing of its underwritten public offering of $25,000,000 aggregate principal amount of its 7.25% unsecured notes due 2027 (the “Notes”), which will result in net proceeds to the Company of approximately $24,200,000 after payment of underwriting discounts and commissions.

The Notes will mature on June 30, 2027, and may be redeemed in whole or in part at any time or from time to time at the Company’s option on or after June 30, 2024. The Company has also granted the underwriters a 30-day option to purchase up to an additional $3,750,000 aggregate principal amount of Notes to cover over-allotments, if any.

The closing of the transaction is subject to customary closing conditions, and the Notes are expected to be delivered on or about June 9, 2022. The Notes are expected to be listed on the Nasdaq Global Market under the trading symbol “GEGGL,” and to trade thereon within 30 days from the original issue date.

GEG expects to use the net proceeds from the offering to make investments in Monomoy Properties REIT, LLC and/or for general corporate purposes, including making opportunistic investments or refinancing subsidiary preferred stock or other indebtedness.

Oppenheimer & Co. Inc., B. Riley Securities, Inc., Janney Montgomery Scott LLC and Ladenburg Thalmann & Co. Inc. are acting as joint book-running managers for the offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other securities nor will there be any sale of the Notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

A registration statement relating to these securities is on file with and has been declared effective by the Securities and Exchange Commission (the “SEC”). The offering will be made only by means of a prospectus, copies of which may be obtained, when available, from Oppenheimer & Co. Inc., 85 Broad Street, New York, New York 10004, FixedIncomeProspectus@opco.com.

About Great Elm Group, Inc.

Great Elm Group, Inc. (NASDAQ: GEG) is a publicly-traded holding company that is building a business across two operating verticals: Investment Management and Operating Companies.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

Statements in this press release that are “forward-looking” statements, including statements regarding expected growth, profitability and outlook involve risks and uncertainties that may individually or collectively impact the matters described herein. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made and represent GEG’s assumptions and expectations in light of currently available information. These statements involve risks, variables and uncertainties, and GEG’s actual performance results may differ from those projected, and any such differences may be material. For information on certain factors that could cause actual events or results to differ materially from GEG’s expectations, please see GEG’s filings with the SEC, including its most recent annual report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Additional information relating to GEG’s financial position and results of operations is also contained in GEG’s annual and quarterly reports filed with the SEC and available for download at its website www.greatelmgroup.com or at the SEC website www.sec.gov.

Media & Investor Contact:

Investor Relations
Michael Kim
investorrelations@greatelmcap.com