Saratoga Invt Corp Stock Price, News & Analysis

Saratoga Investment Corp. (NYSE: SAR) has announced an underwritten public offering of $40 million in 8.00% unsecured notes due October 31, 2027. The offering aims to close on October 27, 2022, and the notes will be listed on the NYSE under the symbol 'SAJ'. Interest on the notes will be payable quarterly, starting February 28, 2023. Additionally, the company received a 'BBB+' investment grade rating from Egan-Jones Ratings. Proceeds will be used for investments in middle-market companies and general corporate purposes, enhancing the company's capacity for growth.

Saratoga Investment Corp. (NYSE: SAR) has launched a registered public offering of unsecured notes. The offering has received an investment grade rating of “BBB+” from Egan-Jones Ratings Company, which is recognized by key regulatory bodies. The notes are expected to be listed on the New York Stock Exchange under the symbol “SAJ” and will trade within 30 days of issuance. The offering is managed by leading investment banks, and investors are advised to carefully consider risks before investing. A registration statement has been filed with the SEC.

Saratoga Investment Corp. (SAR) reported financial results for its 2023 fiscal second quarter, showing a net investment income of $7.7 million, or $0.64 per share, despite a decline in net asset value (NAV) per share to $28.27. Assets under management (AUM) grew by 43.3% year-over-year to $954.7 million. The company declared a quarterly dividend of $0.54, up from $0.53. However, return on equity fell to 4.8%, a drop from 14.4% the prior year. Additionally, the fair value of investments decreased due to market volatility affecting loan valuations.

Saratoga Investment Corp. (NYSE:SAR) has successfully priced a $400 million CLO, named Saratoga Investment Corp Senior Loan Fund 2022-1 Ltd. (SLF 2022), as of September 30, 2022. This fund is a subsidiary of Saratoga Senior Loan Fund I JV LLC, co-managed by Saratoga Investment and TJHA JV I LLC. The anticipated closing date is October 28, 2022. The CLO structure includes various classes of notes, with a total of $400 million in par value and varying expected ratings from Aaa to Ba3. This transaction boosts Saratoga's CLO assets to over $1 billion.

Saratoga Investment Corp. (NYSE:SAR) has received approval from the Small Business Administration (SBA) for its third Small Business Investment Company (SBIC) license. This license allows the company to access up to $175 million in additional long-term capital through SBA-guaranteed debentures. The maximum outstanding SBA debentures for companies with multiple SBICs is $350 million, requiring at least $175 million in regulatory capital. The company aims to use this funding to support small businesses and enhance its financing solutions.

Saratoga Investment Corp. (NYSE:SAR) will announce its financial results for the quarter ending August 31, 2022, on October 4, 2022, after market close. A conference call discussing these results is scheduled for October 5, 2022, at 10:00 a.m. ET, featuring top executives such as Chairman Christian L. Oberbeck and CFO Henri J. Steenkamp. Investors can join via webcast or phone. The company specializes in providing financing solutions to middle-market businesses and will file its Form 10-Q with the SEC on October 4, 2022.

Saratoga Investment Corp. (NYSE:SAR) announced a quarterly dividend of $0.54 per share for Q2 FY2023, payable on September 29, 2022. The record date is September 14, 2022. This is an increase from the $0.53 dividend declared for the previous quarter. The company's CEO emphasized strong portfolio performance and a healthy credit profile as key factors supporting consistent dividend payments. Saratoga primarily provides financing solutions to middle-market businesses, focusing on generating attractive risk-adjusted returns.

Saratoga Investment Corp. (NYSE: SAR) announced the distribution of proxy materials for its 2022 Annual Meeting, scheduled for September 29, 2022. Stockholders are encouraged to vote their shares promptly to minimize solicitation costs. The meeting will take place at Eversheds Sutherland in New York City. Saratoga aims to provide financial solutions to U.S. middle-market businesses through its various debt and equity investments. Detailed information can be found on their Investor Relations website.

Saratoga Investment Corp. (NYSE:SAR) reported its fiscal Q1 2023 financials, showing an increase in Assets Under Management (AUM) to $894.5 million, up 9.4% year-over-year. Net Investment Income (NII) per share rose to $0.66, with total investment income reaching $18.7 million. However, the company reported a net loss of $0.12 per share, and NAV per share fell to $28.69, a decrease of 2.2% from the previous quarter. The firm declared a $0.53 dividend per share, consistent with prior quarters. Management expressed focus on maintaining liquidity and capital strength amid market volatility.