Nice Elm Capital Corp. (“GECC”) Raises $12 Million of Fairness at Internet Asset Worth

PALM BEACH GARDENS, Fla., June 24, 2024 (GLOBE NEWSWIRE) — Nice Elm Capital Corp. (the “Firm” or “GECC”), (NASDAQ: GECC), a enterprise improvement firm, right this moment introduced it issued roughly 1.0 million shares of the Firm’s frequent inventory at a present web asset worth of $12.03 per share, for an mixture gross buy value of $12 million, to Prosper Peak Holdings, LLC (“PPH”).

Nice Elm Group, Inc. (“GEG”), the guardian of the Firm’s funding supervisor, made a $3 million funding in PPH, additional aligning it with shareholders.

“Now we have raised $38 million of non-dilutive fairness year-to-date, bolstering our efforts to develop the platform,” stated Matt Kaplan, GECC’s Chief Govt Officer. “Our gross web asset worth by {dollars} has grown by practically 80% since administration and the board had been refreshed in March 2022, benefiting our shareholders as we leverage our infrastructure and construct out our portfolio verticals.”

Jason Reese, GEG’s Chief Govt Officer, stated, “GEG is dedicated to supporting and increasing its credit score platform, anchored by GECC. We’re excited to announce our participation in Prosper Peak, which can additional develop GECC’s capital base.”   

About Nice Elm Capital Corp.
GECC is an externally managed enterprise improvement firm that seeks to generate present earnings and capital appreciation by investing in debt and earnings producing fairness securities, together with investments in specialty finance companies.

Cautionary Assertion Relating to Ahead-Trying Statements
Statements on this communication that aren’t historic details are “forward-looking” statements throughout the that means of the federal securities legal guidelines. These statements are sometimes, however not all the time, made via using phrases or phrases similar to “count on,” “anticipate,” “ought to,” “will,” “estimate,” “designed,” “search,” “proceed,” “upside,” “potential” and related expressions. All such forward-looking statements contain estimates and assumptions which might be topic to dangers, uncertainties and different elements that would trigger precise outcomes to vary materially from the outcomes expressed within the statements. Among the many key elements that would trigger precise outcomes to vary materially from these projected within the forward-looking statements are: situations within the credit score markets, rising rates of interest, inflationary strain, the worth of GECC frequent inventory and the efficiency of GECC’s portfolio and funding supervisor. Info regarding these and different elements will be present in GECC’s Annual Report on Kind 10-Okay and different reviews filed with the Securities and Change Fee. GECC assumes no obligation to, and expressly disclaims any obligation to, replace any forward-looking statements contained on this communication or to evolve prior statements to precise outcomes or revised expectations besides as required by regulation. Readers are cautioned to not place undue reliance on these forward-looking statements that talk solely as of the date hereof.

This press launch doesn’t represent a suggestion of any securities on the market.

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Supply: Nice Elm Capital Corp.