Great Elm announced the results of the rights offering yesterday..."which entitled holders of rights to purchase one new share of common stock for every one right held at a subscription price of $2.95 per share."
Nice. Thanks for the $2.95's. That's a dividend yield over 30% at least until December.
"In total, the Company sold 10,761,950 shares of its common stock for aggregate gross proceeds of approximately $31.8 million."
Peter Reed said, "This capital will strengthen our balance sheet and furnish us with additional capital to continue implementing the portfolio repositioning we began in the second quarter, including by pursuing additional opportunities in the specialty finance sector."
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