Great Elm plans offering of $25-par five-year senior notes

By William Gullotti

Buffalo, N.Y., May 5 – Great Elm Group, Inc. is planning an offering of $25-par five-year notes, according to an S-1 registration filed with the Securities and Exchange Commission.

The underwriters will have an over-allotment option available in connection with the offering.

The notes will be redeemable in whole or in part at par plus accrued interest until 2024.

Oppenheimer & Co. Inc., B. Riley Securities, Inc., Janney Montgomery Scott LLC and Ladenburg Thalmann & Co., Inc. are the bookrunning managers for the offering.

Jones Day is counsel to Great Elm. Kirkland & Ellis LLP is counsel to the underwriters.

Great Elm intends to use the proceeds to invest in Monomoy REIT and/or for general corporate purposes, including making opportunistic investments, refinancing subsidiary preferred stock or other debt.

The company intends a Nasdaq listing for the notes, but the trading symbol has yet to be determined.

Great Elm is a Waltham, Mass.-based middle market investment company.

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