Security
Saratoga Investment Corp 6.25% Notes due 2023 · SAF
SAFNYSEotherHistorical · closed Aug 30, 2021CIK 1377936Updated Oct 29, 2026
Name history
GSC INVESTMENT CORP. · through Aug 3, 2010GSC Investment LLC · through Mar 21, 2007
Current security for this SEC filerSAR · NYSE
SAF price & chart
Historical security
This listing closed Aug 30, 2021. Live provider charts are shown only for current listings.
Current security: SAR
About the company
Saratoga Investment 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. Saratoga Investment’s objective is to create attractive risk-adjusted returns by generating current income and long-term capital appreciation from its debt and equity investments. Saratoga Investment 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. Saratoga Investment Corp. 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 $350 million collateralized loan obligation …
In the news
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Recent filings
N-23C-2 filing
4 filing
Entry into a Material Definitive Agreement · Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
Items 1.01, 2.03, 9.01
Results of Operations and Financial Condition
Items 2.02, 9.01
10-Q filing
Show 5 more recent filings
Entry into a Material Definitive Agreement · Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
Items 1.01, 2.03, 9.01
424B2 filing
497AD filing
FWP - filed by SARATOGA INVESTMENT CORP. regarding SARATOGA INVESTMENT CORP.
Submission of Matters to a Vote of Security Holders
Items 5.07
Financials
FY 2026 · USDSource
Source
Source
Source
balance sheet · annual statements
| Line item | Q3 2026 | Q3 2025 | Q3 2024 | Q2 2026 | Q2 2025 | Q2 2024 | Q1 2026 | Q1 2025 | FY 2026 | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||||||
| AssetsUSD | 1,196,961,951Source | 1,219,919,880Source | 1,171,697,118Source | 1,206,211,434Source | 1,214,703,661Source | 1,156,311,229Source | 1,202,269,333Source | — | 1,139,265,104Source | 1,191,543,857Source | 1,191,205,835Source | 1,078,158,174Source |
| Current assets: | ||||||||||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 52,298,401Source | 147,614,810Source | 21,386,880Source | 105,660,178Source | 84,569,590Source | 19,305,025Source | 131,562,513Source | — | 1,680,070Source | 148,218,491Source | 8,692,846Source | 65,746,494Source |
| Other Assets, NoncurrentUSD | 2,280,150Source | 1,871,192Source | 932,383Source | 1,215,885Source | 1,567,007Source | 436,948Source | 1,369,594Source | — | 781,766Source | 950,522Source | 1,163,225Source | 531,337Source |
| LIABILITIES AND EQUITY | ||||||||||||
| LiabilitiesUSD | 783,755,039Source | 845,054,225Source | — | 795,711,866Source | — | — | — | — | 743,109,350Source | 798,878,389Source | 820,981,727Source | 731,200,132Source |
| Stockholders’ equity: | ||||||||||||
| Common Stock, Value, IssuedUSD | 16,145Source | 13,909Source | 13,115Source | 16,027Source | 13,746Source | 12,730Source | 15,529Source | — | 16,224Source | 15,183Source | 13,654Source | 11,891Source |
| Retained Earnings (Accumulated Deficit)USD | -23,902,089Source | -2,383,863Source | 2,847,039Source | -23,823,306Source | -1,046,937Source | 16,189,300Source | -25,311,128Source | — | -43,062,947Source | -20,263,312Source | -870,745Source | 25,052,345Source |
| Stockholders' Equity Attributable to ParentUSD | 413,206,912Source | 374,865,655Source | 359,558,749Source | 410,499,568Source | 372,053,842Source | 362,078,755Source | 396,369,315Source | 367,855,082Source | 396,155,754Source | 392,665,468Source | 370,224,108Source | 346,958,042Source |
| Additional Paid in Capital, Common StockUSD | 437,092,856Source | 377,235,609Source | 356,698,595Source | 434,306,847Source | 373,087,033Source | 345,876,725Source | 421,664,914Source | — | 439,202,477Source | 412,913,597Source | 371,081,199Source | 321,893,806Source |
| Liabilities and EquityUSD | 1,196,961,951Source | 1,219,919,880Source | 1,171,697,118Source | 1,206,211,434Source | 1,214,703,661Source | 1,156,311,229Source | 1,202,269,333Source | — | 1,139,265,104Source | 1,191,543,857Source | 1,191,205,835Source | 1,078,158,174Source |
| Additional Financial Items | ||||||||||||
| Cash, Cash Equivalents, and Short-term InvestmentsUSD | — | 147,600,000Source | 47,000,000Source | — | 84,400,000Source | 48,400,000Source | 131,600,000Source | — | — | 148,200,000Source | 8,700,000Source | 65,700,000Source |
| Deferred Tax Liabilities, NetUSD | 4,504,561Source | 4,581,381Source | 3,422,306Source | 4,559,105Source | — | 2,786,512Source | 4,994,417Source | — | 4,579,522Source | 4,889,329Source | 3,791,150Source | 2,816,572Source |
| Dividends PayableUSD | — | — | 26,527,000Source | 30,777,000Source | 20,309,000Source | 17,639,000Source | — | — | — | — | 37,409,000Source | 29,077,000Source |
| Long-term DebtUSD | 774,375,000Source | 837,875,000Source | 811,375Source | 786,375,000Source | — | 795,375,000Source | 791,375,000Source | — | 739,375,000Source | 793,875,000Source | — | 728,375,000Source |
| Liabilities, Current | — | — | — | — | — | — | —Source | — | — | — | — | — |
cash flow · annual statements
| Line item | Q4 2026 | Q4 2025 | Q3 2026 | Q3 2025 | Q2 2026 | Q2 2025 | Q1 2026 | Q1 2025 | FY 2026 | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | — | — | — | — | — | — | — | — | — | — | — | 24,675,763Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Deferred Income Tax Expense (Benefit)USD | — | — | -58,847Source | 163,501Source | -435,312Source | 281,107Source | 105,088Source | 345,622Source | -310,514Source | 1,098,180Source | 974,577Source | 1,013,809Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | — | — | — | — | — | — | 32,291,217Source | 52,145,048Source | -88,029,733Source | 197,538,505Source | -157,206,679Source | -130,373,839Source |
| Cash flows from financing activities: | ||||||||||||
| Payments for Repurchase of Common StockUSD | — | — | — | — | — | — | — | — | 54,314Source | — | — | — |
| Net Cash Provided by (Used in) Financing ActivitiesUSD | — | — | — | — | — | — | -12,728,416Source | 644,745Source | -94,908,438Source | -33,321,705Source | 101,637,530Source | 173,579,770Source |
| Dividends paid | — | — | — | — | — | — | —Source | —Source | —Source | —Source | —Source | —Source |
| Proceeds from (Payments for) Other Financing ActivitiesUSD | — | — | — | — | — | — | — | — | — | — | -1,772Source | -8,764Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | — | — | 169,558,210Source | 250,164,023Source | 200,804,707Source | 162,004,181Source | 224,286,725Source | 93,296,917Source | 21,785,753Source | 204,723,924Source | 40,507,124Source | 96,076,273Source |
| Supplemental disclosure of cash flow information: | ||||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | — | — | — | — | — | — | 10,508,514Source | 10,370,196Source | 44,505,747Source | 46,705,914Source | 44,079,413Source | 28,904,198Source |
| Income Taxes Paid, NetUSD | — | — | — | — | — | — | 2,762Source | 54,821Source | 2,225,842Source | 791,645Source | 748,721Source | 2,770,984Source |
| Additional Financial Items | ||||||||||||
| Amortization of Debt Issuance CostsUSD | — | — | — | — | — | — | 1,254,331Source | 1,238,632Source | 4,802,167Source | 5,025,786Source | 5,171,249Source | 3,587,139Source |
| Amortization of Debt Issuance Costs and DiscountsUSD | — | — | — | — | — | — | — | — | 441,500Source | — | — | — |
| Cash, Cash Equivalents, and Short-term InvestmentsUSD | — | — | — | 147,600,000Source | — | 84,400,000Source | 131,600,000Source | — | — | 148,200,000Source | 8,700,000Source | 65,700,000Source |
| Debt and Equity Securities, Realized Gain (Loss)USD | — | — | 3,070,547Source | 5,444,745Source | 52,691Source | -33,448,727Source | 2,901,339Source | -21,194,997Source | 5,746,490Source | -42,029,324Source | — | — |
| Debt and Equity Securities, Unrealized Gain (Loss)USD | — | — | -583,658Source | -8,918,583Source | 3,727,713Source | 28,728,155Source | 943,977Source | 13,931,431Source | -5,238,480Source | 18,974,366Source | — | — |
| Deferred Other Tax Expense (Benefit)USD | — | — | — | 100,000Source | — | 200,000Source | -100,000Source | 500,000Source | 100,000Source | 1,100,000Source | 900,000Source | — |
| Dividends PayableUSD | — | — | — | — | 30,777,000Source | 20,309,000Source | — | — | — | — | 37,409,000Source | 29,077,000Source |
| Gain (Loss) on InvestmentsUSD | — | — | 2,336,755Source | -3,600,713Source | 4,204,402Source | -4,879,759Source | 3,790,231Source | -7,724,567Source | 621,508Source | -24,115,894Source | — | — |
| Gain (Loss) on Extinguishment of DebtUSD | — | — | -123,157Source | — | — | — | — | — | -824,010Source | -800,452Source | -110,056Source | -1,587,083Source |
| General and Administrative ExpenseUSD | — | — | 888,786Source | 759,902Source | 412,769Source | 821,584Source | 645,411Source | 609,127Source | 2,226,257Source | 1,901,592Source | 2,241,579Source | 2,328,672Source |
| Income Tax Expense (Benefit)USD | — | — | -204,678Source | 36,625Source | -11,315Source | 121,921Source | 54,454Source | -60,283Source | -138,168Source | 412,032Source | 42,926Source | -152,956Source |
| InvestmentCompanyDistributionOrdinaryIncomeUSD | — | — | — | — | — | — | 2,312,153Source | 987,572Source | 6,669,817Source | 5,077,632Source | — | — |
| Investment Income, InterestUSD | — | — | 1,942,036Source | 1,627,718Source | 2,360,397Source | 1,671,031Source | 2,027,211Source | 624,631Source | 7,882,863Source | 6,530,315Source | — | — |
| Net Income (Loss) Attributable to ParentUSD | — | — | 11,999,984Source | 8,834,942Source | 13,285,135Source | 13,317,639Source | 13,932,263Source | 6,610,438Source | 36,604,298Source | 28,086,257Source | 8,933,825Source | — |
| Operating ExpensesUSD | — | — | 21,859,153Source | 23,442,980Source | 21,545,023Source | 24,805,977Source | 22,176,585Source | 24,343,145Source | 88,906,114Source | 95,852,635Source | 86,845,598Source | 63,902,973Source |
| Other Interest and Dividend IncomeUSD | — | — | — | — | — | — | — | — | — | — | — | 2,720,272Source |
| Other Operating Income (Expense), NetUSD | — | — | — | — | — | — | — | — | — | — | — | -200,000Source |
| Payments of Financing CostsUSD | — | — | — | — | — | — | — | 875,791Source | 6,852,926Source | 1,176,808Source | 4,694,711Source | 10,135,986Source |
| Proceeds from Contributed CapitalUSD | — | — | — | — | — | — | 297,770Source | — | 569,322Source | 2,351,767Source | 4,475,297Source | — |
| Proceeds from Issuance of Common StockUSD | — | — | — | — | — | — | 6,143,820Source | — | 18,752,929Source | 33,002,028Source | 44,539,387Source | — |
| RealizedAndUnrealizedGainLossInvestmentAndDerivativeOperatingDeferredTaxExpenseBenefitUSD | — | — | 150,134Source | 126,875Source | -423,998Source | 159,187Source | 55,085Source | 461,001Source | -113,498Source | 1,060,936Source | — | — |
| Realized Investment Gains (Losses)USD | — | — | — | — | — | -33,448,727Source | — | — | — | 49,100,000Source | 153,583Source | 7,446,596Source |
| Gain (Loss) on Sale of Investments | — | — | —Source | — | —Source | — | —Source | — | — | — | — | — |
| Operating Costs and Expenses | — | — | — | — | — | — | — | — | — | — | — | — |
income statement · annual statements
| Line item | Q4 2026 | Q4 2025 | Q3 2026 | Q3 2025 | Q2 2026 | Q2 2025 | Q1 2026 | Q1 2025 | FY 2026 | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Tax Expense (Benefit)USD | — | — | -204,678Source | 36,625Source | -11,315Source | 121,921Source | 54,454Source | -60,283Source | -138,168Source | 412,032Source | 42,926Source | -152,956Source |
| Net Income (Loss) Attributable to ParentUSD | — | — | 11,999,984Source | 8,834,942Source | 13,285,135Source | 13,317,639Source | 13,932,263Source | 6,610,438Source | 36,604,298Source | 28,086,257Source | 8,933,825Source | — |
| Earnings Per Share, BasicUSD per share | — | — | 0.74Source | 0.64Source | 0.84Source | 0.97Source | 0.91Source | 0.48Source | 2.31Source | 2.02Source | 0.71Source | 2.06Source |
| Earnings Per Share, DilutedUSD per share | — | — | 0.74Source | 0.64Source | 0.84Source | 0.97Source | 0.91Source | 0.48Source | 2.31Source | 2.02Source | 0.71Source | 2.06Source |
| Weighted Average Number of Shares Outstanding, Basicshares | — | — | 16,108,862Source | 13,789,951Source | 15,775,387Source | 13,726,142Source | 15,344,510Source | 13,683,314Source | 15,850,270Source | 13,912,170Source | 12,670,939Source | 11,963,533Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | — | — | 16,108,862Source | 13,789,951Source | 15,775,387Source | 13,726,142Source | 15,344,510Source | 13,683,314Source | 15,850,270Source | 13,912,170Source | — | — |
| Additional Financial Items | ||||||||||||
| Current Income Tax Expense (Benefit)USD | — | — | — | — | — | — | — | — | — | — | — | -553,748Source |
| Debt and Equity Securities, Realized Gain (Loss)USD | — | — | 3,070,547Source | 5,444,745Source | 52,691Source | -33,448,727Source | 2,901,339Source | -21,194,997Source | 5,746,490Source | -42,029,324Source | — | — |
| Debt and Equity Securities, Unrealized Gain (Loss)USD | — | — | -583,658Source | -8,918,583Source | 3,727,713Source | 28,728,155Source | 943,977Source | 13,931,431Source | -5,238,480Source | 18,974,366Source | — | — |
| Gain (Loss) on InvestmentsUSD | — | — | 2,336,755Source | -3,600,713Source | 4,204,402Source | -4,879,759Source | 3,790,231Source | -7,724,567Source | 621,508Source | -24,115,894Source | — | — |
| General and Administrative ExpenseUSD | — | — | 888,786Source | 759,902Source | 412,769Source | 821,584Source | 645,411Source | 609,127Source | 2,226,257Source | 1,901,592Source | 2,241,579Source | 2,328,672Source |
| Interest and Other IncomeUSD | — | — | 0Source | 0Source | — | 0Source | 0Source | 0Source | 0Source | 0Source | — | — |
| Interest Income, OperatingUSD | — | — | 26,721,979Source | 30,760,674Source | 26,377,435Source | 39,365,152Source | 28,003,926Source | 34,306,476Source | 106,898,012Source | 131,021,941Source | — | — |
| Interest Income, OtherUSD | — | — | — | — | — | 0Source | 400,000Source | — | 200,000Source | — | 400,000Source | 4,900,000Source |
| Investment Income, InterestUSD | — | — | 1,942,036Source | 1,627,718Source | 2,360,397Source | 1,671,031Source | 2,027,211Source | 624,631Source | 7,882,863Source | 6,530,315Source | — | — |
| Investment Income, NetUSD | — | — | — | — | — | 39,365,152Source | — | — | — | — | 127,785,225Source | 85,216,868Source |
| Management Fee ExpenseUSD | — | — | 4,434,590Source | 4,412,000Source | 4,374,324Source | 4,766,445Source | 4,333,332Source | 4,982,580Source | 17,769,904Source | 18,382,404Source | 19,212,337Source | 16,423,960Source |
| Net Investment IncomeUSD | — | — | 9,786,386Source | 12,435,655Source | 9,080,733Source | 18,197,398Source | 10,142,032Source | 14,335,005Source | 36,806,800Source | 53,002,603Source | 56,874,308Source | 35,201,147Source |
| Operating ExpensesUSD | — | — | 21,859,153Source | 23,442,980Source | 21,545,023Source | 24,805,977Source | 22,176,585Source | 24,343,145Source | 88,906,114Source | 95,852,635Source | 86,845,598Source | 63,902,973Source |
| Other IncomeUSD | — | — | 625,282Source | 853,481Source | -28,436Source | 61,500Source | 319,329Source | 985,203Source | 1,548,860Source | 2,043,863Source | 1,469,320Source | 2,943,610Source |
| Other Interest and Dividend IncomeUSD | — | — | — | — | — | — | — | — | — | — | — | 2,720,272Source |
| Other Operating Income (Expense), NetUSD | — | — | — | — | — | — | — | — | — | — | — | -200,000Source |
| RealizedAndUnrealizedGainLossInvestmentAndDerivativeOperatingDeferredTaxExpenseBenefitUSD | — | — | 150,134Source | 126,875Source | -423,998Source | 159,187Source | 55,085Source | 461,001Source | -113,498Source | 1,060,936Source | — | — |
| Realized Investment Gains (Losses)USD | — | — | — | — | — | -33,448,727Source | — | — | — | 49,100,000Source | 153,583Source | 7,446,596Source |
| Taxes, MiscellaneousUSD | — | — | — | — | — | — | — | — | — | — | — | 1,100,000Source |
| Interest Expense | — | — | — | — | —Source | —Source | —Source | —Source | — | — | — | — |
| Interest Expense, Debt | — | — | — | — | — | — | — | — | — | — | — | — |
| Operating Costs and Expenses | — | — | — | — | — | — | — | — | — | — | — | — |
Filing attachments
ea030779301ex99-1.htm · 8-K · 2026-10-06
Exhibit 99.1 Saratoga Investment Corp. Announces Fiscal Second Quarter 2027 Financial Results Reports Quarterly Asset Growth of 2.1% and Net Originations of $37.1 Million, Including Two New Portfolio Companies Non-Accruals Remain Low at 0.0% of Fair Value and 1.3% of Cost Repurchase of 444,124 Shares, Contributing $0.09 Per Share of NAV Accretion NEW YORK, Oct. 06, 2026 (GLOBE NEWSWIRE) -- Saratoga Investment Corp. (NYSE: SAR) (“Saratoga Investment” or “the Company”), a business development…
Read attachment ↗ea030601601ex99-1.htm · 8-K · 2026-09-18
EX-99.1 2 ea030601601ex99-1.htm PRESS RELEASE ISSUED BY SARATOGA INVESTMENT CORP. ON SEPTEMBER 18, 2026 Exhibit 99.1 Saratoga Investment Corp. Announces CFO Transition and New Leadership Appointments NEW YORK, Sept. 18, 2026 (GLOBE NEWSWIRE) -- Saratoga Investment Corp. (NYSE:SAR) (“Saratoga Investment” or “the Company”), a business development company, today announced that Henri Steenkamp will step down from his position as Chief Financial Officer, Chief Compliance Officer, Treasurer and …
Read attachment ↗ea030335001ex4-2.htm · 8-K · 2026-08-26
EX-4.2 2 ea030335001ex4-2.htm EIGHTEENTH SUPPLEMENTAL INDENTURE, DATED AS OF AUGUST 26, 2026, BY AND BETWEEN SARATOGA INVESTMENT CORP. AND U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION (AS SUCCESSOR IN INTEREST TO U.S. BANK NATIONAL ASSOCIATION), AS TRUSTEE Exhibit 4.2 EIGHTEENTH SUPPLEMENTAL INDENTURE between SARATOGA INVESTMENT CORP. and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee Dated as of August 26, 2026 THIS EIGHTEENTH SUPPLEMENTAL INDENTURE (this “Eighteenth Sup…
Read attachment ↗ea030269701ex99-1.htm · 8-K · 2026-08-19
EX-99.1 3 ea030269701ex99-1.htm NOTICE OF REDEMPTION OF 6.00% NOTES DUE 2027 Exhibit 99.1 NOTICE OF REDEMPTION TO THE HOLDERS OF THE 6.00% Notes due 2027 of Saratoga Investment Corp. (CUSIP No. 80349A 802)* Redemption Date: September 18, 2026 NOTICE IS HEREBY GIVEN, pursuant to Section 1104 of the Indenture, dated as of May 10, 2013 (the “Base Indenture”), by and between Saratoga Investment Corp., a Maryland corporation (the “Company”), and U.S. Bank Trust Company, National Associatio…
Read attachment ↗ea029727501ex99-1.htm · 8-K · 2026-07-07
EX-99.1 2 ea029727501ex99-1.htm PRESS RELEASE DATED JULY 7, 2026 OF SARATOGA INVESTMENT CORP Exhibit 99.1 Saratoga Investment Corp. Announces Fiscal First Quarter 2027 Financial Results Reports Quarterly Asset Growth of 1.6% and Net Originations of $31 Million, Including Two New Portfolio Companies Non-Accruals Decreased to 0.0% of Fair Value and 1.2% of Cost NEW YORK, July 7, 2026 - Saratoga Investment Corp. (NYSE: SAR) (“Saratoga Investment” or “the Company”), a business development co…
Read attachment ↗ea028916801ex99-1.htm · 8-K · 2026-05-05
EX-99.1 2 ea028916801ex99-1.htm PRESS RELEASE DATED MAY 5, 2026 OF SARATOGA INVESTMENT CORP Exhibit 99.1 Saratoga Investment Corp. Announces 2026 Fiscal Year and Fourth Quarter Financial Results Reports 13.4% Increase in AUM and 0.9% Increase in NAV Year-Over-Year Annual ROE of 9.1% Beats Previous Year ROE of 7.5% and the BDC Industry Average of 4.3% Net Deployments of $101.1 Million for the Fourth Fiscal Quarter 2026, Supporting Five New Platforms and Fifteen Follow-Ons Non-Accruals R…
Read attachment ↗