Every 8-K that Saratoga Investment Corp. 8.125% Notes due 2027 (SAY) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow SAY and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SAY filings page.
Saratoga Investment Corp. (SAJ) entered into an Eighteenth Supplemental Indenture with U.S. Bank Trust Company to issue and sell $85.0 million of 8.00% Notes due 2031 in a public offering under its shelf registration.
The Notes bear interest at 8.00% per year, payable quarterly on February 28, May 31, August 31, and November 30, beginning November 30, 2026, and mature on August 31, 2031. They are redeemable at the company’s option at par plus accrued interest on or after August 26, 2028. Net proceeds of approximately $82,043,750, together with available cash, are intended to redeem in full the company’s outstanding 6.00% notes due 2027. The Notes are unsecured obligations ranking pari passu with Saratoga Investment Corp.’s other unsecured, unsubordinated indebtedness and are subject to covenants tied to asset coverage and reporting requirements under the Investment Company Act of 1940 and the Exchange Act.
Saratoga Investment Corp. (SAJ) entered into an underwriting agreement on August 18, 2026 to issue and sell $85,000,000 aggregate principal amount of 8.00% Notes due 2031. Underwriters also have an option, exercisable within 30 days of the final prospectus supplement, to purchase up to an additional $12,750,000 of these notes. The company intends to list the new notes on the New York Stock Exchange under the symbol “SAX”, with closing expected on August 26, 2026, subject to customary conditions.
On August 19, 2026, Saratoga Investment Corp. gave notice that it will redeem, in full, $105,500,000 aggregate principal amount of its 6.00% Notes due 2027 on September 18, 2026. The redemption price equals 100% of principal (or $25 per note) plus accrued and unpaid interest through, but excluding, the redemption date. Aggregate accrued interest payable will be $316,500, or $0.07500 per $25 note. The company states that the redemption will be funded using proceeds from the new notes offering and available cash, and that interest on the redeemed notes will cease to accrue after the redemption date.
Saratoga Investment Corp. reported fiscal first quarter 2027 results for the quarter ended May 31, 2026, showing pressure on earnings and net asset value. Assets under management rose 1.6% sequentially to $1.126 billion, driven by $31 million of net originations, including two new portfolio companies.
Total investment income was $30.8 million, with net investment income of $7.6 million, or $0.47 per share, down from $0.66 a year earlier. Earnings per share were a loss of $0.42, mainly from $15.2 million of net unrealized depreciation, which reduced NAV to $378.5 million, or $23.23 per share, versus $24.42 last quarter.
Credit metrics remained relatively strong, with non-accruals at 0.0% of fair value and 1.2% of cost and 98.3% of credits in the highest internal rating. The company declared base monthly dividends of $0.25 per share for each month of its second fiscal quarter 2027, totaling $0.75 per share and equating to a 14.0% yield based on a $21.42 share price.
Saratoga Investment Corp. reported financial results for its fiscal year and fourth quarter ended February 28, 2026, highlighted by higher assets and returns but lower income. Assets under management reached $1.109 billion, up 13.4% year-over-year, while net asset value rose to $396.2 million, a 0.9% increase.
Return on equity improved to 9.1% versus 7.5% a year earlier and the BDC industry average of 4.3%. Full-year earnings per share were $2.31, up from $2.02, and total dividends reached $3.74 per share, including a $0.25 special dividend. Total investment income declined to $125.7 million from $148.9 million, and net investment income per share fell to $2.32 from $3.81, reflecting pressure from lower short-term rates and tighter spreads.
For the fourth quarter, Saratoga generated net originations of $101.1 million, supporting five new platforms and fifteen follow-on investments, and kept non-accruals low at 0.2% of fair value and 1.2% of cost. The company’s board also declared three monthly base dividends of $0.25 per share for the first quarter of fiscal 2027, totaling $0.75.
Saratoga Investment Corp. issued $25,000,000 of 7.25% Notes due 2029 in a private placement to an institutional investor. The notes pay 7.25% annual interest quarterly and mature on April 10, 2029, with an option for the company to extend maturity to October 10, 2029.
The company received approximately $24,275,000 in net proceeds, based on a 98.00% purchase price and about $225,000 of expenses, and plans to use the funds for general corporate purposes. The notes are unsecured, rank pari passu with other unsecured debt, are callable at par plus interest on or after April 10, 2027, and may be increased in additional private offerings up to an aggregate $50,000,000 by July 10, 2026.
The indenture includes asset coverage and dividend covenants tied to the Investment Company Act of 1940 and provides noteholders with a repayment option if specified management changes occur or if certain regulatory asset coverage requirements are breached.
Saratoga Investment Corp. entered into an underwriting agreement to issue and sell $100,000,000 aggregate principal amount of its 7.50% Notes due 2031. The underwriters also have a 30-day option to buy up to an additional $15,000,000 of these notes.
The company plans to list the notes on the New York Stock Exchange under the symbol “SAV” within 30 days of the original issue date. Closing of the offering is expected on February 6, 2026, subject to customary closing conditions, and the agreement includes standard representations, covenants, and indemnification provisions.