$2.160
+0.010 (+0.47%)At close
GEG News
GEG Events
Great Elm Group Files to Sell 7.35M Shares of Common Stock
Great Elm Group files to sell 7.35M shares of common stock for holders
Great Elm Group Files to Sell 2M Shares of Common Stock
Great Elm Group files to sell 2M shares of common stock
KLIM purchases 4.9% of Great Elm Group at $2.11 per share
Great Elm Group announced a strategic partnership with KLIM. This partnership delivers up to $150M in leverageable capital to support continued growth across Great Elm's real estate platform, which includes Monomoy REIT, Monomoy CRE, Monomoy Construction Services and Monomoy BTS. Under the terms of the transaction, KLIM is providing an initial $100M term loan to Monomoy REIT, and the option for an additional $50M in future capital. Additionally, KLIM is purchasing 4.9% of GEG's common stock at market price, approximately $2.11 a share, and will hold an initial 15% profits interest, which may be increased to 20% under certain circumstances, in the newly formed Great Elm Real Estate Ventures, which consolidates GEG's real estate subsidiaries: MCRE, MCS, and MBTS.
Great Elm Group announces formation of Monomoy Construction Services
Great Elm Group announced the formation of Monomoy Construction Services upon acquisition of Greenfield CRE's assets. The result will combine the construction talent from Greenfield with civil engineering and land planning talent at Monomoy BTS Construction Management to form MCS, which will operate adjacent to Monomoy's industrial asset management business Monomoy CRE, to provide an integrated business model in the industrial real estate market. With this acquisition, Monomoy will offer a full-service suite of project management, procurement, construction management, asset management, market analysis and feasibility for its industrial real estate tenants.
Great Elm Group reports Q1 EPS 8c vs. 8c last year
Reports Q1 revenue $4M vs. $3.3M last year...Jason Reese, Chief Executive Officer of the Company, stated, "We had a solid start to fiscal 2025, as we continued to expand our assets under management, grew our fee revenue through earned incentive fees from GECC and increased management fees across our credit and real estate businesses. Moreover, the Monomoy Build-to-Suit pipeline remains strong, and we continue to broaden our tenant relationships." "Additionally, as the Great Elm Credit Income Fund marks its first anniversary, our strong returns and now-established track record position us well to attract capital and further scale the platform. We also increased our stock repurchase capacity up to $20 million from $10 million initially, and utilized the program to repurchase shares at a meaningful discount to book value. Looking ahead, we remain focused on executing on our strategic priorities: growing our core credit and real estate platforms, pursuing compelling investment opportunities and leveraging our strong balance sheet to maximize shareholder value."
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