Brief: Great Elm Group Inc Streamlines Capital Structure And Corporate Governance Through Agreement With Existing Shareholder

Great Elm

10/03/2021 22:22

March 10 (Reuters) - Great Elm Group Inc  GEG.O :
    * GREAT ELM GROUP, INC. STREAMLINES CAPITAL STRUCTURE AND
CORPORATE GOVERNANCE THROUGH AGREEMENT WITH EXISTING SHAREHOLDER
    * GREAT ELM GROUP INC - REACHED AN AGREEMENT WITH MAST
CAPITAL
MANAGEMENT, LLC
    * GREAT ELM GROUP INC - WILL ISSUE $2.25 MILLION OF 5%
CONVERTIBLE
SENIOR PIK NOTES DUE 2030 TO MAST
    * GREAT ELM GROUP - WILL ISSUE NOTES TO MAST IN EXCHANGE FOR
ALL
OUTSTANDING OBLIGATIONS UNDER $3.1 MILLION SENIOR SECURED NOTE
ISSUED BY GECC GP TO MAST
    * GREAT ELM GROUP - WILL ISSUE NOTES IN EXCHANGE FOR ALL
STOCK IN
GP CORP HELD BY MAST & ITS AFFILIATES, TERMINATION OF MAST'S
BOARD APPOINTMENT RIGHTS
    * GREAT ELM GROUP INC - HAS REPURCHASED GP CORP COMMON STOCK
HELD
BY CERTAIN EMPLOYEES OF GREAT ELM FOR NOMINAL CONSIDERATION
    * GREAT ELM GROUP INC - GEG WILL OWN IN EXCESS OF 90% OF
OUTSTANDING COMMON STOCK OF GP CORP.

Source text for Eikon:  ID:nGNX7KZVY2 
Further company coverage:  GEG.O 

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