Subsequent Events	9 Months Ended
Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	20. Subsequent Events Monomoy Transaction On May 4, 2022, GECM entered into an asset purchase agreement with ICAM to acquire the investment management agreement and certain other assets related thereto for Monomoy Properties REIT, LLC (Monomoy REIT), a Maryland real estate investment trust. Monomoy REIT consists of a portfolio of diversified net leased industrial assets in the United States. The upfront purchase price of $10 million at closing was financed with a combination of (i) newly issued shares of common stock of GEG equal to 4.99% of GEG’s total outstanding shares as of the closing date issued at the 30-calendar day volume-weighted average price ending on April 14, 2022; (ii) $1.25 million shares of common stock of GECC owned by GEG issued at the GECC rights offering price; and (iii) a promissory note with a principal balance equal to $10 million less the sum of the value of the GEG shares and GECC shares. In addition to the consideration paid at closing, additional consideration of up to $2 million is owed if certain performance targets are met during the first two years following closing Earnout. The transaction includes a required equity investment into Monomoy REIT of $15 million to fund growth in originations. The acquisition was unanimously approved by GEG’s independent directors. The transaction was negotiated between an ad hoc committee of independent directors and ICAM.

Subsequent Events

9 Months Ended

Mar. 31, 2022

20. Subsequent Events

Monomoy Transaction
On May 4, 2022, GECM entered into an asset purchase agreement with ICAM to acquire the investment management agreement and certain other assets related thereto for Monomoy Properties REIT, LLC (Monomoy REIT), a Maryland real estate investment trust. Monomoy REIT consists of a portfolio of diversified net leased industrial assets in the United States.

The upfront purchase price of $10 million at closing was financed with a combination of (i) newly issued shares of common stock of GEG equal to 4.99% of GEG’s total outstanding shares as of the closing date issued at the 30-calendar day volume-weighted average price ending on April 14, 2022; (ii) $1.25 million shares of common stock of GECC owned by GEG issued at the GECC rights offering price; and (iii) a promissory note with a principal balance equal to $10 million less the sum of the value of the GEG shares and GECC shares.

In addition to the consideration paid at closing, additional consideration of up to $2 million is owed if certain performance targets are met during the first two years following closing Earnout.

The transaction includes a required equity investment into Monomoy REIT of $15 million to fund growth in originations.

The acquisition was unanimously approved by GEG’s independent directors. The transaction was negotiated between an ad hoc committee of independent directors and ICAM.