{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-23-029874","form_type":"8-K","ticker":"SAR","cik":"0001377936","company_name":"SARATOGA INVESTMENT CORP.","filed_at":"2023-04-14T23:59:59+00:00","discovered_at":"2026-05-14T18:03:38.641395+00:00","generated_at":"2026-06-17T01:51:50.245263+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Saratoga Investment Corp. issues $50M of 8.50% Notes due 2028","bullets":["Issued $50M principal amount of 8.50% Notes due April 15, 2028; underwriters may purchase up to $7.5M additional.","Net proceeds of ~$48.2M after underwriting discounts and expenses.","Intends to use net proceeds to repay Encina credit facility, make middle-market investments, and for general corporate purposes.","Notes listed on NYSE under symbol SAZ; interest payable quarterly beginning May 31, 2023.","Notes are unsecured, rank pari passu with other unsubordinated unsecured debt."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-23-029874","json":"https://secwatch.observer/filing/0001213900-23-029874.json","markdown":"https://secwatch.observer/filing/0001213900-23-029874.md","text":"https://secwatch.observer/filing/0001213900-23-029874.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1377936/000121390023029874/0001213900-23-029874-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1377936/000121390023029874/ea176949-8k_saratoga.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-17T01:51:50.245263+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"488f3df4cee0014157f6294690791e0f58886bf2","claim":"SARATOGA INVESTMENT CORP. incurred senior notes of $50,000,000 aggregate principal amount at 8.50% per year maturing April 15, 2028.","evidence_excerpt":"Advisors, LLC and Ladenburg Thalmann & Co. Inc., as representative of the several underwriters named in Schedule I thereto, in connection with the issuance and sale of $50,000,000 aggregate principal amount of the Company’s 8.50% Notes due 2028 (the “Notes” and the issuance and sale of the Notes, the “Offering”). The underwriters also may purchase from the","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1377936/000121390023029874/0001213900-23-029874-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$50,000,000 aggregate principal amount"},{"label":"Rate","value":"8.50% per year"},{"label":"Maturity","value":"April 15, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"a0a9739d574de586a1d5228e92dc45f110493ed7","claim":"SARATOGA INVESTMENT CORP. entered into Underwriting Agreement with Ladenburg Thalmann & Co. Inc., as representative of the several underwriters valued at $50,000,000 aggregate principal amount (effective 2023-04-11).","evidence_excerpt":"On April 11, 2023, Saratoga Investment Corp. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) by and among the Company, Saratoga Investment Advisors, LLC and Ladenburg Thalmann & Co. Inc., as representative of the several underwriters named in Schedule I thereto, in connection with the issuance and sale of $50,000,000 aggregate principal amount of the Company’s 8.50% Notes due 2028","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1377936/000121390023029874/0001213900-23-029874-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"underwriting"},{"label":"Counterparty","value":"Ladenburg Thalmann & Co. Inc., as representative of the several underwriters"},{"label":"Value","value":"$50,000,000 aggregate principal amount"},{"label":"Effective","value":"2023-04-11"}],"fact_type":"material_agreement"},{"claim_id":"dc7cd9a61ff6c829c27217c077e9e2cbd4ef63ab","claim":"SARATOGA INVESTMENT CORP. entered into Fifteenth Supplemental Indenture with U.S. Bank Trust Company, National Association, as trustee valued at $50,000,000 aggregate principal amount (effective 2023-04-14).","evidence_excerpt":"On April 14, 2023, 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 Fifteenth Supplemental Indenture (the “Fifteenth Supplemental Indenture”) to the Base Indenture, dated May 10, 2013, between the Company and the Trustee (the “Base Indenture”; and together with the Fifteenth Supplemental Indenture, the “Indenture”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1377936/000121390023029874/0001213900-23-029874-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"U.S. Bank Trust Company, National Association, as trustee"},{"label":"Value","value":"$50,000,000 aggregate principal amount"},{"label":"Effective","value":"2023-04-14"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}