Great Elm Capital Group Inc (GECC)

[Enterprising Investor]

Rights Offering Completed (12/28/16)

Great Elm's common stock has returned to being listed on the NASDAQ Global Select Market under the symbol “GEC” and the symbols “GECX” and “GECXU” are no longer in use.

On 12/27/16, per the Amended and Restated Backstop Investment Agreement, GEC sold an aggregate of 912,513 shares of its common stock to the investors under the Backstop Agreement resulting in gross proceeds to the registrant of approximately $3 million.

Officers and directors and their related parties purchased an aggregate of 117,000 shares in the backstop for an aggregate purchase price of approximately $0.3 million.

On 12/23/16, the rights offering expired. $29.7 million of basic subscription privileges and $12.4 million of over-subscription privileges were exercised resulting in the issuance of 9.1 million shares of the common stock and net proceeds of approximately $39.6 million. After the rights offering and issuance of shares to the backstop providers, GEC expects to have approximately 24.1 shares of its common stock outstanding. These amounts are subject to adjustment for guaranteed deliveries.

https://www.sec.gov/Archives/edgar/data/1082506/000119312516805045/d310024d8k.htm