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Saratoga Investment Corp

Saratoga Investment Corp. is a business development company that focuses on the lower end of middle market companies. It invests in leveraged and management buyouts, acquisition financings, growth financings, recapitalizations, debt refinancings, and transitional financing transactions. The fund structures its investments as debt and equity, including first and second lien loans, mezzanine debt, co-investments, select high yield bonds, senior secured bonds, unsecured bonds, and preferred and common equity. It prefers to invest in aerospace, automotive aftermarket and services, business products and services, consumer products and services, education, environmental services, industrial services, financial services, food and beverage, healthcare products and services, logistics, distribution, manufacturing, restaurants services, food services, software services, technology services, specialty chemical, media and telecommunications. The fund seeks to invest in the United States. It primarily invests between $60 million and $75 million in companies with EBITDA of $2 million or greater and revenues between $10 million and $150 million. It targets annual revenues between $8 million and $250 million. The fund prefers to take a majority stake and invests through direct lending as well as participation in loan syndicates.

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United States
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Saratoga Investment Launches Additional 8% Notes Due 2031

Saratoga Investment said on Tuesday it had launched a public offering of an additional 8% notes due in 2031, which trade on the NYSE under the ticker SAX. The new notes will carry the same terms and rank equally with the $97.75M aggregate principal amount of 8% notes due in 2031 that the company previously issued in August and September. Saratoga plans to use the proceeds to repay Valley National Bank debt or to redeem its 8% notes due in 2027. Lucid Capital Markets and Oppenheimer are serving as joint book-running managers for the offering. Shares of Saratoga Investment rose 1.02%.
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SAR · Capital · Positive Saratoga launched an additional 8% notes due 2031 to repay Valley National Bank debt or redeem its 2027 notes.
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United States
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Saratoga Investment prices $85M notes offering at 8%

Saratoga Investment has priced an underwritten public offering of $85 million in notes maturing in August 2031. The notes will bear interest at 8% per year, payable quarterly beginning November 30, 2026. Underwriters have an option to purchase up to an additional $12.75 million in notes. The offering is expected to close on August 26, 2026, subject to customary closing conditions.
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SAR · Capital · Negative Pricing $85M notes at 8% interest increases debt and interest expense.
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United States
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Saratoga Investment launches unsecured notes offering, earns BBB rating

Saratoga Investment has commenced a registered public offering of unsecured notes and received an investment-grade BBB rating from Egan-Jones Ratings Company. The notes are expected to be listed on the NYSE and trade under the symbol SAX within 30 days of issuance. The company expects to use the net proceeds to redeem its outstanding 6% and 8% notes due 2027 and repay a portion of its indebtedness under the SPV financing credit facility with Valley National Bank. Lucid Capital Markets and Oppenheimer are serving as joint book-running managers.
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SAR · Capital · Positive Launches unsecured notes offering and receives investment-grade BBB rating, using proceeds to refinance debt.
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Saratoga Investment Q1 2027 earnings preview: consensus EPS $0.54, revenue $31.38M

Saratoga Investment is scheduled to announce its first quarter 2027 earnings results on Tuesday, July 7th, after market close. The consensus earnings per share estimate is $0.54, down 18.2% year-over-year, and the consensus revenue estimate is $31.38 million, down 2.9% year-over-year. Over the last two years, the company has beaten earnings per share estimates 63% of the time and revenue estimates 63% of the time. Over the last three months, earnings per share estimates have seen one upward revision and four downward revisions, while revenue estimates have seen three upward revisions and two downward revisions.
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SAR · Capital · Neutral Earnings preview with mixed estimate revisions and historical beat rates; net impact unclear until actual results.
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Saratoga Investment Corp. Sets July 7 Earnings Release and July 8 Conference Call

Saratoga Investment Corp. will report its financial results for the fiscal first quarter ended May 31, 2026, on Tuesday, July 7, 2026, after market close. A conference call to discuss the results is scheduled for Wednesday, July 8, 2026, at 10:00 a.m. Eastern Time, featuring Chairman and CEO Christian L. Oberbeck, COO David DeSantis, and CFO Henri J. Steenkamp. Interested parties can access a live webcast and presentation through the company's investor relations website, with a replay available for a limited time. Phone participants must register via a provided link to receive dial-in details and are encouraged to join 15 minutes early. The company will also file its Form 10-Q for the quarter with the SEC on July 7.
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SAR · Capital · Neutral Company announces earnings release date and conference call; no actual results or guidance provided yet.
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Saratoga Investment Corp Faces Potential Dividend Run Ahead of July Ex-Date

Saratoga Investment Corp New is approaching a potential Dividend Run as its next ex-dividend date of July 6, 2026 nears. The company will pay a monthly dividend of 0.25 per share, with a payment date of July 23, 2026. Analysis of the last four dividends shows that a strategy of buying shares two weeks before the ex-date and selling one day prior would have captured capital gains exceeding the dividend amount each time, totaling 2.19 in gains versus 1.00 in dividends. The stock's implied annualized yield stands at 13.58%.
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SAR · Capital · Positive Article highlights a dividend capture strategy that historically yielded capital gains exceeding dividends, implying potential near-term price appreciation.
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