Saratoga Investment Corp. issues $87.5M of 6.00% Notes due 2027

SARATOGA INVESTMENT CORP.

$87.5M aggregate principal of 6.00% Notes due 2027; underwriters may purchase up to $12.5M additional.
Underwriting agreement with Ladenburg Thalmann & Co. Inc. as representative of several underwriters.
Closing expected April 27, 2022; Notes to be listed on NYSE under symbol "SAT".
Proceeds used for general corporate purposes; existing 7.25% Notes (SAK) remain outstanding.

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