---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-055855"
form_type: "8-K"
ticker: "SAR"
cik: "0001377936"
company_name: "SARATOGA INVESTMENT CORP."
filed_at: "2023-07-10T23:59:59+00:00"
generated_at: "2026-06-13T10:30:28.036980+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Saratoga Investment upsizes ATM equity offering program to $300M from $150M

## Summary
- Increased maximum aggregate offering of common stock under ATM program to $300M from $150M on July 10, 2023.
- Entered Amendment No. 2 to Equity Distribution Agreement with Ladenburg Thalmann and Compass Point.
- Approximately $173.2M remained available for sale under the ATM Program as of July 10, 2023.
- Shares may be sold through agents at-the-market; no obligation to sell.

## SEC filing metadata
- accession: 0001213900-23-055855
- form_type: 8-K
- ticker: SAR
- cik: 0001377936
- company_name: SARATOGA INVESTMENT CORP.
- filed_at: 2023-07-10T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1377936/000121390023055855/0001213900-23-055855-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1377936/000121390023055855/ea181499-8k_saratoga.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-055855
- JSON: https://secwatch.observer/filing/0001213900-23-055855.json
- Plain text: https://secwatch.observer/filing/0001213900-23-055855.txt

## Key facts
- Material Agreements
  SARATOGA INVESTMENT CORP. amended Amendment No. 2 with Saratoga Investment Advisors, LLC, Ladenburg Thalmann & Co. Inc., Compass Point Research and Trading, LLC valued at $300,000,000 (effective 2023-07-10).
  - Action: amendment
  - Agreement: atm program
  - Counterparty: Saratoga Investment Advisors, LLC, Ladenburg Thalmann & Co. Inc., Compass Point Research and Trading, LLC
  - Value: $300,000,000
  - Effective: 2023-07-10
  source text: n connection with the upsize of the ATM Program, the Company entered into amendment no. 2 (“Amendment No. 2”) to the equity distribution agreement, dated July 30, 2021 (as amended on June 7, 2023, the “Equity Distribution Agreement”) with Saratoga
  evidence_url: https://www.sec.gov/Archives/edgar/data/1377936/000121390023055855/0001213900-23-055855-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.