<SEC-DOCUMENT>0001140361-22-022815.txt : 20220613
<SEC-HEADER>0001140361-22-022815.hdr.sgml : 20220613
<ACCEPTANCE-DATETIME>20220613202245
ACCESSION NUMBER:		0001140361-22-022815
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20220609
FILED AS OF DATE:		20220613
DATE AS OF CHANGE:		20220613

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Northern Right Capital Management, L.P.
		CENTRAL INDEX KEY:			0001346543
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39832
		FILM NUMBER:		221013185

	BUSINESS ADDRESS:	
		STREET 1:		9 OLD KINGS HWY. S.
		STREET 2:		4TH FLOOR
		CITY:			DARIEN
		STATE:			CT
		ZIP:			06820
		BUSINESS PHONE:		(203) 951-6084

	MAIL ADDRESS:	
		STREET 1:		9 OLD KINGS HWY. S.
		STREET 2:		4TH FLOOR
		CITY:			DARIEN
		STATE:			CT
		ZIP:			06820

	FORMER NAME:	
		FORMER CONFORMED NAME:	Becker Drapkin Management, L.P.
		DATE OF NAME CHANGE:	20100824

	FORMER NAME:	
		FORMER CONFORMED NAME:	SRB Management, L.P.
		DATE OF NAME CHANGE:	20051209

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BC Advisors LLC
		CENTRAL INDEX KEY:			0001349003
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39832
		FILM NUMBER:		221013186

	BUSINESS ADDRESS:	
		STREET 1:		500 CRESCENT COURT
		STREET 2:		SUITE 230
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201
		BUSINESS PHONE:		(214) 756-6016

	MAIL ADDRESS:	
		STREET 1:		500 CRESCENT COURT
		STREET 2:		SUITE 230
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Northern Right Capital (QP), L.P.
		CENTRAL INDEX KEY:			0001451722
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39832
		FILM NUMBER:		221013183

	BUSINESS ADDRESS:	
		STREET 1:		9 OLD KINGS HWY. S.
		STREET 2:		4TH FLOOR
		CITY:			DARIEN
		STATE:			CT
		ZIP:			06820
		BUSINESS PHONE:		(203) 951-5440

	MAIL ADDRESS:	
		STREET 1:		9 OLD KINGS HWY. S.
		STREET 2:		4TH FLOOR
		CITY:			DARIEN
		STATE:			CT
		ZIP:			06820

	FORMER NAME:	
		FORMER CONFORMED NAME:	BECKER DRAPKIN PARTNERS (QP), L.P.
		DATE OF NAME CHANGE:	20100820

	FORMER NAME:	
		FORMER CONFORMED NAME:	SRB GREENWAY OPPORTUNITY FUND (QP) LP
		DATE OF NAME CHANGE:	20081209

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			NRC Partners I, LP
		CENTRAL INDEX KEY:			0001763594
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39832
		FILM NUMBER:		221013184

	BUSINESS ADDRESS:	
		STREET 1:		9 OLD KINGS HIGHWAY SOUTH
		STREET 2:		4TH FLOOR
		CITY:			DARIEN
		STATE:			CT
		ZIP:			06820
		BUSINESS PHONE:		(203) 951-5440

	MAIL ADDRESS:	
		STREET 1:		9 OLD KINGS HIGHWAY SOUTH
		STREET 2:		4TH FLOOR
		CITY:			DARIEN
		STATE:			CT
		ZIP:			06820

ISSUER:		

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

	BUSINESS ADDRESS:	
		STREET 1:		800 SOUTH STREET, SUITE 230
		CITY:			WALTHAM
		STATE:			MA
		ZIP:			02453
		BUSINESS PHONE:		(617) 375-3006

	MAIL ADDRESS:	
		STREET 1:		800 SOUTH STREET, SUITE 230
		CITY:			WALTHAM
		STATE:			MA
		ZIP:			02453
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2022-06-09</periodOfReport>

    <issuer>
        <issuerCik>0001831096</issuerCik>
        <issuerName>Great Elm Group, Inc.</issuerName>
        <issuerTradingSymbol>GEG</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001346543</rptOwnerCik>
            <rptOwnerName>Northern Right Capital Management, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>9 OLD KINGS HWY S., 4TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>DARIEN</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06820</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isTenPercentOwner>true</isTenPercentOwner>
            <isOther>true</isOther>
            <otherText>Member of 13D 10% Group</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001763594</rptOwnerCik>
            <rptOwnerName>NRC Partners I, LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O NORTHERN RIGHT CAPITAL MANAGEMENT LP</rptOwnerStreet1>
            <rptOwnerStreet2>9 OLD KINGS HWY S., 4TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>DARIEN</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06820</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isTenPercentOwner>true</isTenPercentOwner>
            <isOther>true</isOther>
            <otherText>Member of 13D 10% Group</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001451722</rptOwnerCik>
            <rptOwnerName>Northern Right Capital (QP), L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O NORTHERN RIGHT CAPITAL MANAGEMENT LP</rptOwnerStreet1>
            <rptOwnerStreet2>9 OLD KINGS HWY S., 4TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>DARIEN</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06820</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isTenPercentOwner>true</isTenPercentOwner>
            <isOther>true</isOther>
            <otherText>Member of 13D 10% Group</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001349003</rptOwnerCik>
            <rptOwnerName>BC Advisors LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O NORTHERN RIGHT CAPITAL MANAGEMENT LP</rptOwnerStreet1>
            <rptOwnerStreet2>9 OLD KINGS HWY S., 4TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>DARIEN</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06820</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isTenPercentOwner>true</isTenPercentOwner>
            <isOther>true</isOther>
            <otherText>Member of 13D 10% Group</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2022-06-09</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>237637</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>2.38</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3092921</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Represents 77,128 shares of common stock of Great Elm Group, Inc. (&quot;GEG&quot;) purchased by Northern Right Capital (QP), L.P. (&quot;Northern Right QP&quot;), 25,883 shares of common stock of GEG purchased by NRC Partners I, L.P. (&quot;NRC Partners&quot;) and 134,626 shares of common stock of GEG purchased by managed accounts (the &quot;Accounts&quot;) on behalf of an investment advisory client of Northern Right Capital Management, L.P. (&quot;Northern Right Management&quot;).  Northern Right Management acts as investment manager for the Accounts.</footnote>
        <footnote id="F2">Northern Right QP beneficially owns and has the power to vote or to direct the vote of 1,414,089 shares of common stock of GEG. NRC Partners beneficially owns and has the power to vote or to direct the vote of 90,972 shares of common stock of GEG. Managed accounts (the &quot;Managed Accounts) on behalf of certain investment advisory clients of Northern Right Capital Management beneficially own 1,587,860 shares of common stock of GEG.</footnote>
        <footnote id="F3">As general partner and investment manager of NRC Partners and Northern Right QP, Northern Right Management may be deemed to be the beneficial owner of the securities held by NRC Partners and Northern Right QP. As the investment manager of the Accounts and the Managed Accounts, Northern Right Management may also be deemed to be the beneficial owner of the securities held by such accounts. As general partner of Northern Right Management, BC Advisors, LLC (&quot;BCA&quot;) may be deemed to be the beneficial owner of the securities beneficially owned (or deemed beneficially owned) by Northern Right Management. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein that may be beneficially owned by any of the other Reporting Persons, in each case except to the extent of any pecuniary interest therein,</footnote>
        <footnote id="F4">(continued from footnote 3) and this report shall not be deemed an admission that any such entity or person is the beneficial owner of or has any pecuniary interest in, such securities forpurposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.</footnote>
    </footnotes>

    <remarks>The Reporting Persons are jointly filing this Form 4.</remarks>

    <ownerSignature>
        <signatureName>Northern Right Capital Management, L.P.
By: BC Advisors, LLC, its general partner
By: /s/ Matthew A. Drapkin
Matthew A. Drapkin, Authorized Signatory</signatureName>
        <signatureDate>2022-06-13</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>NRC Partners I, LP
By: Northern Right Capital Management, L.P., its general partner  By: BC Advisors, LLC, its general partner
By: /s/ Matthew A. Drapkin
Matthew A. Drapkin, Authorized Signatory</signatureName>
        <signatureDate>2022-06-13</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Northern Right Capital QP, LP
By: Northern Right Capital Management, L.P., its general partner  By: BC Advisors, LLC, its general partner
By: /s/ Matthew A. Drapkin
Matthew A. Drapkin, Authorized Signatory</signatureName>
        <signatureDate>2022-06-13</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>BC Advisors, LLC
By: /s/ Matthew A. Drapkin
Matthew A. Drapkin, Authorized Signatory</signatureName>
        <signatureDate>2022-06-13</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
