Saratoga Investment Corp. Announces Offering of Additional 8.00% Notes due 2031
Saratoga Investment Corp plans to issue more 8.00% 2031 notes, potentially refinancing bank debt or 2027 notes.
Rhea-AI Summary
Saratoga Investment Corp (SAR) has commenced a registered public offering of additional 8.00% Notes due 2031 on September 22, 2026.
The new Notes will have the same terms, rank equally in right of payment, and be fungible with the existing $85,000,000 and $12,750,000 aggregate principal amounts of 8.00% Notes due 2031 already outstanding, and are listed on the NYSE under the symbol SAX. Lucid Capital Markets and Oppenheimer & Co. are joint book-running managers. Net proceeds are expected to be used either to repay indebtedness under a Valley National Bank credit facility or to redeem 8.00% Notes due 2027, depending on proceeds raised.
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AI-generated analysis. How Rhea-AI works. Not financial advice.
NEW YORK, NY, Sept. 22, 2026 (GLOBE NEWSWIRE) -- Saratoga Investment Corp. (the “Company”) (NYSE: SAR) announced the commencement of a registered public offering of additional
The Notes will constitute a further issuance of, have the same terms (except the issue date and the offering price) as, rank equally in right of payment with, and be fungible and form a single series with the
Lucid Capital Markets, LLC and Oppenheimer & Co. Inc. are serving as joint book-running managers for this offering. Investors are advised to consider carefully the investment objective, risks and charges and expenses of the Company before investing. The Company expects to use the net proceeds from this offering to repay a portion of the outstanding indebtedness under the special purpose vehicle financing credit facility with Valley National Bank or to redeem the outstanding
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of, the Notes referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction. A registration statement (File No. 333-292765) relating to the Notes was filed and has been declared effective by the Securities and Exchange Commission.
This offering is being made solely by means of a written prospectus forming part of the effective registration statement and a related preliminary prospectus supplement, which may be obtained from of any of the following investment banks: Lucid Capital Markets, LLC, Attn: George Mangione, 570 Lexington Avenue, 40th Floor, New York, NY 10022 (telephone number (646) 362-3098), or by e-mailing GMangione@lucidcm.com; or Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, NY 10004, by telephone at (212) 667-8055, or by email at EquityProspectus@opco.com.
The preliminary prospectus supplement dated September 22, 2026, and the accompanying prospectus dated March 11, 2026, each of which has been filed with the Securities and Exchange Commission, contains a description of these matters and other important information about the Company and should be read carefully before investing.
About Saratoga Investment Corp.
Saratoga Investment Corp. is a specialty finance company that provides customized financing solutions to U.S. middle-market businesses. The Company invests primarily in senior and unitranche leveraged loans and mezzanine debt, and, to a lesser extent, equity to provide financing for change of ownership transactions, strategic acquisitions, recapitalizations and growth initiatives in partnership with business owners, management teams and financial sponsors. The Company’s objective is to create attractive risk-adjusted returns by generating current income and long-term capital appreciation from its debt and equity investments. The Company has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended, and is externally managed by Saratoga Investment Advisors, LLC, an SEC-registered investment advisor focusing on credit-driven strategies. The Company owns two active SBIC-licensed subsidiaries, having surrendered its first license after repaying all debentures for that fund following the end of its investment period and subsequent wind-down. Furthermore, it manages a
FORWARD LOOKING STATEMENTS
Statements included herein contain certain “forward-looking statements” within the meaning of the federal securities laws, including statements with regard to the offering of the additional Notes and the anticipated use of the net proceeds of the offering. Forward-looking statements can be identified by the use of forward looking words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or negative versions of those words, other comparable words or other statements that do not relate to historical or factual matters. The forward-looking statements are based on the Company’s beliefs, assumptions and expectations of future events and its future performance, taking into account all information currently available to the Company. These statements are not guarantees of future events, performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including, but not limited to: an economic downturn or recession and its impact on the ability of the Company’s portfolio companies to operate and the investment opportunities available to it; the uncertainty associated with the imposition of tariffs and trade barriers and changes in trade policy and its impact on the Company’s portfolio companies and the global economy; interest rate volatility, including the uncertainty relating to the interest rate environment; the impact of supply chain constraints; labor shortages; the elevated levels of inflation; and the impact of geopolitical conditions on the Company’s portfolio companies and opportunities available to it, as well as those described from time to time in our filings with the SEC. Any forward-looking statement speaks only as of the date on which it is made. The Company undertakes no duty to update any forward-looking statements made herein, whether as a result of new information, future developments or otherwise, except as required by law.
Contact: Henri Steenkamp
Saratoga Investment Corp.
212-906-7800
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How will Saratoga Investment Corp use the net proceeds from this additional 8.00% Notes due 2031 offering?
The company expects to use the net proceeds either to repay a portion of the outstanding indebtedness under its special purpose vehicle financing credit facility with Valley National Bank or to redeem the outstanding 8.00% Notes due 2027, depending on the extent and amount of net proceeds from this offering.
What is the relationship between the new Notes and Saratoga’s existing 8.00% Notes due 2031?
The additional Notes will constitute a further issuance of, have the same terms (except issue date and offering price) as, rank equally in right of payment with, and be fungible and form a single series with the existing $85,000,000 and $12,750,000 aggregate principal amounts of 8.00% Notes due 2031 previously issued.
Under what registration and documents is this 8.00% Notes due 2031 offering being made?
The Notes are offered under an effective registration statement with the SEC (File No. 333-292765). The offering is made solely by means of a written prospectus forming part of that registration statement and a related preliminary prospectus supplement dated September 22, 2026, together with an accompanying prospectus dated March 11, 2026.
Where are the 8.00% Notes due 2031 listed for trading?
The 8.00% Notes due 2031 are listed on the New York Stock Exchange under the trading symbol SAX.