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SARATOGA INVESTMENT CORP.

(SAR)
  Report
Delayed Nyse  -  04:00 2022-12-02 pm EST
26.83 USD   -0.26%
11/15Saratoga Investment Raises Quarterly Dividend to $0.68 a Share From $0.54 a Share, Payable Jan. 4 to Stockholders as of Dec. 15
MT
11/15Saratoga Investment Corp. Increases Quarterly Dividend by 26%, or $0.14, to $0.68 per Share for the Fiscal Third Quarter Ended November 30, 2022
GL
11/15Saratoga Investment Corp. Declares Quarterly Dividend for the Fiscal Third Quarter Ended November 30, 2022, Payable on January 4, 2023
CI
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Saratoga Investment Corp. Enters into the Second Supplemental Notes Purchase Agreement

09/12/2022 | 04:06pm EST

On September 8, 2022, the Saratoga Investment Corp. entered into the Second Supplemental Notes Purchase Agreement (the “Second Supplemental Agreement”) governing the issuance of its 7.00% Notes due 2025 (the “Notes”) in the aggregate principal amount of $12.0 million to the Purchaser in a private placement. In addition, pursuant to the Second Supplement Agreement, upon the mutual agreement of the Company and the Purchaser, the Purchaser may purchase from the Company up to an additional $8.0 million in aggregate principal amount of the Notes by September 30, 2022.

The Notes were delivered and paid for on September 8, 2022. Upon the issuance of the Notes, the outstanding aggregate principal amount of the Company's unsecured notes held by the Purchaser under the Notes Purchase Agreement, the First Supplemental Agreement and the Second Supplemental Agreement, collectively, is $27.0 million. In connection with the issuance of the Notes, on September 8, 2022, the Company and U.S. Bank Trust Company, National Association, as trustee (as successor in interest to U.S. Bank National Association) (the “Trustee”), entered into a Eleventh Supplemental Indenture (the “Eleventh Supplemental Indenture”) to the Base Indenture, dated May 10, 2013, between the Company and the Trustee (the “Base Indenture”; and together with the Eleventh Supplemental Indenture, the “Indenture”).

As set forth in the Eleventh Supplemental Indenture, the Notes have a fixed interest rate of 7.00% per year. The Company will pay interest on the Notes on February 28, May 31, August 31 and November 30 each year, beginning on November 30, 2022 . The Notes will mature on September 8, 2025, unless extended to September 8, 2027 by mutual agreement of the Company and the Purchaser.

The Company may redeem the Notes, in whole or in part, at any time or from time to time on or after September 8, 2024 at the redemption price of par, plus accrued interest. The net proceeds to the Company from the issuance of the Notes was approximately $11,560,000, based on an offering price of 100% of par, after deducting customary fees and offering expenses payable by the Company. The Company intends to use the net proceeds from the offering of the Notes to make investments in middle-market companies in accordance with its investment objective and strategies and for general corporate purposes.


ę S&P Capital IQ 2022
All news about SARATOGA INVESTMENT CORP.
11/15Saratoga Investment Raises Quarterly Dividend to $0.68 a Share From $0.54 a Share, Paya..
MT
11/15Saratoga Investment Corp. Increases Quarterly Dividend by 26%, or $0.14, to $0.68 per ..
GL
11/15Saratoga Investment Corp. Declares Quarterly Dividend for the Fiscal Third Quarter Ende..
CI
10/27Saratoga Investment Corp. : Financial Statements and Exhibits (form 8-K)
AQ
10/20Saratoga Investment Corp. : Entry into a Material Definitive Agreement, Creation of a Dire..
AQ
10/20Oppenheimer Trims Price Target on Saratoga Investment to $28 From $29, Maintains Outper..
MT
10/19Saratoga Investment Prices $40 Million Debt Offering; Shares up After Hours
MT
10/19Saratoga Investment Corp. Prices Public Offering of $40.0 Million 8.00% Notes Due 2027
GL
10/19Saratoga Investment Corp. Prices Public Offering of $40.0 Million 8.00% Notes Due 2027
GL
10/19Saratoga Investment Launches Registered Public Offering of Notes
MT
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Financials (USD)
Sales 2023 88,6 M - -
Net income 2023 14,1 M - -
Net Debt 2023 - - -
P/E ratio 2023 22,7x
Yield 2023 7,98%
Capitalization 319 M 319 M -
Capi. / Sales 2023 3,60x
Capi. / Sales 2024 3,19x
Nbr of Employees -
Free-Float 73,2%
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Mean consensus BUY
Number of Analysts 6
Last Close Price 26,83 $
Average target price 27,75 $
Spread / Average Target 3,43%
EPS Revisions
Managers and Directors
Chris Long Oberbeck Chairman & Chief Executive Officer
Henri Johann Steenkamp CFO, Secretary, Treasurer & Director
Rochelle Kracoff Assistant Chief Compliance Officer
Mike Grisius Chief Investment Officer
Steven M. Looney Independent Director
Sector and Competitors