# EDGAR Filing Document

**Accession Number:** 0001831096
**File Stem:** 0000950103-25-010788
**Filing Date:** 2025-8
**Character Count:** 16995
**Document Hash:** 7b39dd403a79e2bfc39dfb84c41a3781
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950103-25-010788.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0000950103-25-010788

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 16

**CONFORMED PERIOD OF REPORT**: 20250827

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Unregistered Sales of Equity Securities

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250827

**DATE AS OF CHANGE**: 20250827

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Great Elm Group, Inc.
- **CENTRAL INDEX KEY:** 0001831096
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 853622015
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39832
- **FILM NUMBER:** 251265784

**BUSINESS ADDRESS:**
- **STREET 1:** 3801 PGA BOULEVARD
- **STREET 2:** SUITE 603
- **CITY:** PALM BEACH GARDENS
- **STATE:** FL
- **ZIP:** 33410
- **BUSINESS PHONE:** (617) 375-3006

**MAIL ADDRESS:**
- **STREET 1:** 3801 PGA BOULEVARD
- **STREET 2:** SUITE 603
- **CITY:** PALM BEACH GARDENS
- **STATE:** FL
- **ZIP:** 33410

?xml version='1.0' encoding='ASCII'?

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**UNITED STATES SECURITIES AND EXCHANGE COMMISSION** **WASHINGTON, D.C. 20549**

____________________________

**FORM 8-K**

____________________________

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): August 27, 2025**

**Great Elm Group, Inc.** **(Exact name of Registrant as Specified in Its Charter)**

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-39832** | **85-3622015** |
| (State or Other Jurisdiction <br> of Incorporation)  | (Commission File Number) | (IRS Employer <br> Identification No.)  |
| **3801 PGA Boulevard, Suite 603** <br> **Palm Beach Gardens, FL** |  | **33410** |
| (Address of Principal Executive Offices) |  | (Zip Code) |

---

Registrant's Telephone Number, Including Area Code: **(617) 375-3006**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | |
|:---|:---|
| Title of each class  | Name of each exchange on which registered  |
| **Common stock, par value $0.001 per share** **GEG** | **The Nasdaq Stock Market LLC<br> (Nasdaq Global Select Market)** |
| **7.25% Notes due 2027** **GEGGL** | **The Nasdaq Stock Market LLC<br> (Nasdaq Global Select Market)** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 1.01 Entry into a Material Definitive Agreement.**

*Securities Purchase Agreement*

On August 27, 2025, Great Elm Group, Inc. (the "Company") entered into a Securities Purchase Agreement (the "Securities Purchase Agreement") with Woodstead Value Fund, L.P., a Texas limited partnership (the "Purchaser"), pursuant to which the Purchaser purchased, and the Company issued, 4,000,000 shares (the "Shares") of the Company's common stock, par value $0.001 per share (the "Common Stock"), at a 20-day volume-weighted average price calculated at market close the business day prior to the date of the Securities Purchase Agreement of $2.25 per share, for an aggregate purchase price of $9,000,000. The Shares were issued in a private placement exempt from registration under Section 4(a)(2) and Rule 506(b) of Regulation D of the Securities Act of 1933.

Pursuant to the registration rights covenant under the Securities Purchase Agreement, the Company has agreed to file a registration statement to register the resale from time to time of the Registrable Securities (as defined in the Securities Purchase Agreement) held by the Purchasers within one hundred and fifty days following the date of the Securities Purchase Agreement. The Company has also agreed to include the Registrable Securities in certain registration statements filed by the Company. The registration rights granted pursuant to the Securities Purchase Agreement will terminate upon the first to occur of (A) a registration statement with respect to the sale of such securities being declared effective by the Securities and Exchange Commission (the "SEC") under the Securities Act of 1933, as amended (the "Securities Act") and such securities having been disposed of or transferred by the holder thereof in accordance with such effective registration statement, (B) such securities having been previously sold or transferred in accordance with Rule 144 (or another exemption from the registration requirements of the Securities Act), (C) such securities becoming eligible for resale without volume or manner-of-sale restrictions and without current public information requirements pursuant to Rule 144 or (D) such securities are no longer outstanding.

In addition, pursuant to the director appointment covenant under the Securities Purchase Agreement, as long as the Purchaser and its affiliates collectively continue to own at least 2,000,000 shares of the Common Stock (the "Ownership Requirements"), the Company has agreed to appoint one person designated by the Purchaser to serve on the Company's board of directors (the "Board"), and to continue to nominate such person to continue to serve on the Board at each annual meeting of the Company's stockholders so long as the Purchaser meets the Ownership Requirements and such person qualifies as an independent director under Nasdaq independence rules and is reasonably acceptable to the Board.

*Warrants*

Pursuant to the Securities Purchase Agreement, the Company also issued to the Purchaser (i) a warrant to buy 1,000,000 shares of Common Stock at an exercise price of $3.50 per share with a ten-year term (the "Series A Warrant") and (ii) a warrant to buy 1,000,000 shares of Common Stock at an exercise price of $5.00 per share with a ten-year term (the "Series B Warrant", together with Series A Warrant, the "Warrants"). The Warrants were issued in a private placement exempt from registration under Section 4(a)(2) and Rule 506(b) of Regulation D of the Securities Act of 1933.

The Series A Warrants are exercisable at any time on or after the one-year anniversary of the original issuance date and the Series B Warrants are exercisable at any time on or after the three-year anniversary of the original issuance date.

The Warrants include certain limited anti-dilution adjustments.

The foregoing summary of the Securities Purchase Agreement and the Warrants are qualified in their entirety by reference to the Securities Purchase Agreement and the Warrants, respectively, which will be filed as exhibits to our annual report on Form 10-K for the year ended June 30, 2025.

**Item 3.02 Unregistered Sales of Equity Securities.**

The information set forth in Item 1.01 above is incorporated by reference into this Item 3.02.

**Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**

Pursuant to the director appointment covenant under the Securities Purchase Agreement, on August 26, 2025, in accordance with the recommendation of the Nominating and Corporate Governance Committee (the "Nominating & Corporate Governance Committee") of the Board, the Board elected and approved Booker Smith to serve as a director, effective as of August 27, 2025, to serve until his successor is duly elected and qualified, or until the earlier of his death, resignation or removal. As of the time of this filing, the Board has not made a determination regarding the committees of the Board, if any, to which Mr. Smith will be appointed.

Mr. Smith brings extensive experience across corporate credit and real estate investing.

The Board has determined that Mr. Smith is an independent director as defined in Nasdaq Listing Rule 5605(a)(2).

Mr. Smith shall receive compensation for his service on the Board and any of its committees in accordance with our non-employee director compensation program.

**Item 8.01 Other Events.**

On August 27, 2025, the Company issued a press release in connection with the issuance of the Shares and Warrants. A copy of the press release is filed as Exhibit 99.1 to this report.

**Item 9.01 Financial Statements and Exhibits.**

(d) Exhibits.

---

| | |
|:---|:---|
| **Exhibit** <br> **Number**  | **Description** |
| [<u>99.1</u>](dp233519_ex9901.htm) | [<u>Press Release, dated August 27, 2025</u>](dp233519_ex9901.htm) |
| 104 | The cover page from this Current Report on Form 8-K, formatted as inline XBRL |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
|  | **GREAT ELM GROUP, INC.** |
| Date: August 27, 2025 | /s/ Keri A. Davis |
|  | By: Keri A. Davis |
|  | Title: Chief Financial Officer |

---

## Exhibit 99.1

Exhibit 99.1

![A close-up of a logo AI-generated content may be incorrect.](image_001.jpg)

**Great Elm Group Announces Strategic Investments, New Board Member,** 

**and Timing of Fiscal 2025 Earnings Release**

***- Woodstead Purchases 4.0 Million Shares of Great Elm Group's Common Stock –***

***- An Affiliate of Booker Smith Purchases 1.3 Million Shares of Great Elm Capital Corp.'s Common Stock –***

***- Company to Release Fiscal 2025 Earnings after Market Close on September 2, 2025, and***

***Host Conference Call at 8:30 a.m. ET on September 3, 2025 –***

Transaction Highlights:

&nbsp;&nbsp;&nbsp;&nbsp;· Woodstead Value Fund, L.P. ("Woodstead") purchased 4.0 million shares of newly issued common
stock of Great Elm Group, Inc. ("GEG") at a price of $2.25 per share for gross proceeds of $9.0 million.

&nbsp;&nbsp;&nbsp;&nbsp;· Separately, Great Elm Capital Corp. ("GECC") sold 1.3 million newly-issued shares of its common
stock to an affiliate of Booker Smith, representing 9.9% of GECC's outstanding common stock, at $11.65 per share for gross proceeds
of $15.0 million.

&nbsp;&nbsp;&nbsp;&nbsp;· Booker Smith appointed to the GEG Board, bringing deep credit and real estate expertise.

**Palm Beach Gardens, FL – August 27, 2025** — *Great Elm Group, Inc.* ("we," "us," "our," "GEG" or "Great Elm,") (NASDAQ: GEG), a publicly traded alternative asset manager, today announced a strategic investment from Woodstead, an institutional investor with deep credit and real estate expertise.

Under the terms of the transaction, Woodstead is purchasing 4.0 million shares of GEG's common stock at a price of $2.25 per share for gross proceeds of $9.0 million. Woodstead will also hold 10-year warrants for an additional 1.0 million shares of GEG common stock struck at $3.50 and 1.0 million shares of GEG common stock struck at $5.00, further aligning Woodstead with GEG's shareholders.

As part of the transaction, Booker Smith has joined GEG's Board of Directors. Mr. Smith brings years of extensive experience across corporate credit and real estate investing, directly supporting GEG's key verticals. His background and skills will contribute to advancing Great Elm's strategic priorities, while his addition reflects the deep partnership formed through this investment.

"These transactions represent a significant milestone for Great Elm," said Jason Reese, Chief Executive Officer of Great Elm. "Booker's expertise across our core verticals, coupled with the capital commitment from Woodstead, provides meaningful resources to grow our assets under management, enhance profitability, and further align our investor base with long-term shareholder value creation."

"I am excited to join the Great Elm board and partner with management to build upon the Company's momentum," said Booker Smith. "GEG's differentiated alternative asset platform and strategic vision position the firm to continue scaling across both credit and real estate."

**Strategic and Financial Impact For GEG**

The transaction provides new growth capital to GEG, which will be used to pursue its objectives of expanding assets under management and enhancing profitability. The warrants provide long-term alignment between Woodstead and all GEG shareholders, reinforcing a shared commitment to value creation.

**Strategic and Financial Impact For GECC**

Separately, Great Elm Capital Corp. ("GECC"), a business development company managed by Great Elm Capital Management, LLC ("GECM"), a subsidiary of GEG, issued approximately 1.3 million shares of its common stock to Poor Richard LLC, an affiliate of Booker Smith. This capital strengthens GECC's balance sheet and provides additional capital to be leveraged for new investments. The transaction is a testament to the significant turnaround at GECC that began in March 2022 and reflects investor confidence in the platform. Once deployed, this capital is expected to generate incremental management fees for GEG.

**Fiscal 2025 Earnings and Strategic Investment Conference Call & Webcast Information**

**When:** Wednesday, September 3, 2025, 8:30 a.m. Eastern Time (ET)

**Call:** All interested parties are invited to participate in the conference call by dialing +1 (877) 407-0752; international callers should dial +1 (201) 389-0912. Participants should enter the Conference ID 13750803 if asked.

**Webcast:** The conference call will be webcast simultaneously and can be accessed <u>here</u>. A copy of the slide presentation accompanying the conference call, can be found <u>here</u>.

**About Great Elm Group, Inc.**

Great Elm Group, Inc. (NASDAQ: GEG) is an alternative asset manager focused on building a scalable and diversified portfolio of long-duration and permanent capital vehicles across credit, real estate, specialty finance, and other alternative strategies. GEG's subsidiaries manage Great Elm Capital Corp. (NASDAQ: GECC), a publicly-traded business development company, as well as Monomoy Properties REIT, LLC, an industrial outdoor storage ("IOS")-focused real estate investment trust along with its growing real estate services platform. Learn more at <u>www.greatelmgroup.com</u>.

**Cautionary Statement Regarding Forward-Looking Statements**

Statements in this press release that are "forward-looking" statements, including statements regarding expected benefits from the transaction, growth, profitability, acquisition opportunities involve risks and uncertainties that may individually or collectively impact the matters described herein. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made and represent GEG's assumptions and expectations in light of currently available information. These statements involve risks, variables and uncertainties, and GEG's actual performance results may differ from those projected, and any such differences may be material. For information on certain factors that could cause actual events or results to differ materially from GEG's expectations, please see GEG's filings with the Securities and Exchange Commission ("SEC"), including its most recent annual report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Additional information relating to GEG's financial position and results of operations is also contained in GEG's annual and quarterly reports filed with the SEC and available for download at its website <u>www.greatelmgroup.com</u> or

at the SEC website <u>www.sec.gov</u>.

This press release does not constitute an offer of any securities for sale.

**Media & Investor Contact:**

Investor Relations

<u>geginvestorrelations@greatelm.com</u>

![A close-up of a logo AI-generated content may be incorrect.](image_002.jpg)

Source: Great Elm Group, Inc.