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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>UNITED STATES</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>WASHINGTON, D.C. 20549</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>&#160;</b></p>



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<p style="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>FORM <span id="xdx_90E_edei--DocumentType_c20240423__20240423_zmzzGq9YpXg9"><ix:nonNumeric contextRef="AsOf2024-04-23" id="Fact000009" name="dei:DocumentType">8-K</ix:nonNumeric></span></b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>&#160;</b></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>CURRENT REPORT</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Pursuant to Section 13 or 15(d) of the Securities
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Date of Report (Date of earliest event reported):
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>&#160;</b></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>&#160;</b></p>



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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>&#160;</b></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">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:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt">Securities registered pursuant to Section 12(b) of the Act:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">Indicate by check mark whether the registrant is an emerging growth company
as defined in Rule 405 of the Securities Act of 1933 (&#167; 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of
1934 (&#167; 240.12b-2 of this chapter).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif">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. &#9744;</span></p>



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<td style="width: 0"/><td style="width: 72pt">Item 1.01</td><td>Entry into a Material Definitive Agreement.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">On April 23, 2024, Great Elm Capital Corp. (the &#8220;Company&#8221;),
Green SPE, LLC (&#8220;Green&#8221;) and CLO Formation JV, LLC (the &#8220;JV&#8221;) entered into an Amended and Restated Limited Liability
Company Agreement (the &#8220;LLC Agreement&#8221;) of the JV, pursuant to which the Company owns 75% of the membership interests in the
JV and Green owns 25% of the membership interests in the JV. The JV was formed to make investments in collateralized loan obligation entities
and related warehouse facilities.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">The foregoing description of the terms of the LLC Agreement does not purport
to be complete and is qualified in its entirety by reference to the full text of the LLC Agreement. The LLC Agreement is attached hereto
as Exhibit 10.1 and is incorporated herein by reference.</p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 72pt; text-indent: -72pt">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0"/><td style="width: 72pt">Item 9.01</td><td>Financial Statements and Exhibits.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">(d) Exhibits.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
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    <td style="padding-top: 4pt; width: 2%; padding-bottom: 4pt">&#160;</td>
    <td style="padding-top: 4pt; width: 88%; padding-bottom: 4pt">
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    <td style="font: 10pt Times New Roman, Times, Serif; padding-top: 4pt; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">The cover page of this Current Report on Form 8-K, formatted as inline XBRL.</span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">* Certain portions of this exhibit were redacted pursuant to Item 601(b)(10)(iv)
of Regulation S-K.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"># Certain schedules and exhibits to this agreement have been omitted in
accordance with Item 601(a)(5) of Regulation S-K.</p>


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<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center">SIGNATURES</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 36pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">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.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td colspan="2"><span style="font-family: Times New Roman, Times, Serif"><b>GREAT ELM CAPITAL CORP.</b></span></td></tr>
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    <td>&#160;</td>
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  <tr style="vertical-align: top">
    <td style="width: 60%"><span style="font-family: Times New Roman, Times, Serif">Date: April 24, 2024</span></td>
    <td style="width: 6%"><span style="font-family: Times New Roman, Times, Serif">By:&#160;&#160;</span></td>
    <td style="border-bottom: Black 1pt solid; width: 34%"><span style="font-family: Times New Roman, Times, Serif">/s/ Keri A. Davis</span></td></tr>
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    <td>&#160;</td>
    <td><span style="font-family: Times New Roman, Times, Serif">Name: </span></td>
    <td><span style="font-family: Times New Roman, Times, Serif">Keri A. Davis</span></td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td><span style="font-family: Times New Roman, Times, Serif">Title: </span></td>
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{"company-data": {"conformed-name": "Great Elm Capital Corp.", "cik": "0001675033", "organization-name": "", "irs-number": "812621577", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "814-01211", "film-number": "24866798"}, "business-address": {"street1": "800 SOUTH STREET", "street2": "SUITE 230", "city": "WALTHAM", "state": "MA", "zip": "02453", "phone": "617-375-3006"}, "mail-address": {"street1": "800 SOUTH STREET", "street2": "SUITE 230", "city": "WALTHAM", "state": "MA", "zip": "02453"}}
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):
April 23, 2024
Great Elm Capital Corp.
(Exact name of Registrant as Specified in Its Charter)
Maryland
(State or Other Jurisdiction
of Incorporation)
814-01211
(Commission File Number)
81-2621577
(IRS Employer
Identification No.)
800 South Street
,
Suite 230
,
Waltham
,
MA
(Address of Principal Executive Offices)
02453
(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
Trading Symbol(s)
Name of each exchange
    on which registered
Common stock, $0.01 par value
GECC
Nasdaq
Global Market
6.75% Notes due 2025
GECCM
Nasdaq
Global Market
5.875% Notes due 2026
GECCO
Nasdaq
Global Market
8.75% Notes due 2028
GECCZ
Nasdaq
Global Market
8.50% Notes due 2029
GECCI
Nasdaq
Global 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. ☐
Item 1.01
Entry into a Material Definitive Agreement.
On April 23, 2024, Great Elm Capital Corp. (the "Company"),
Green SPE, LLC ("Green") and CLO Formation JV, LLC (the "JV") entered into an Amended and Restated Limited Liability
Company Agreement (the "LLC Agreement") of the JV, pursuant to which the Company owns 75% of the membership interests in the
JV and Green owns 25% of the membership interests in the JV. The JV was formed to make investments in collateralized loan obligation entities
and related warehouse facilities.
The foregoing description of the terms of the LLC Agreement does not purport
to be complete and is qualified in its entirety by reference to the full text of the LLC Agreement. The LLC Agreement is attached hereto
as Exhibit 10.1 and is incorporated herein by reference.
Item 9.01
Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
Number
Description
10.1*#
Amended and Restated Limited Liability Company Agreement of CLO Formation JV, LLC dated as of April 23, 2024
104
The cover page of this Current Report on Form 8-K, formatted as inline XBRL.
* Certain portions of this exhibit were redacted pursuant to Item 601(b)(10)(iv)
of Regulation S-K.
# Certain schedules and exhibits to this agreement have been omitted in
accordance with Item 601(a)(5) of Regulation S-K.
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 CAPITAL CORP.
Date: April 24, 2024
By:
/s/ Keri A. Davis
Name:
Keri A. Davis
Title:
Chief Financial Officer