secwatch.observer — SEC 8-K summary
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Issuer:     SARATOGA INVESTMENT CORP. (SAR)
CIK:        0001377936
Form:       8-K
Filed at:   2025-10-07T23:59:59+00:00
Accession:  0001213900-25-097029
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Saratoga Investment Q2 NAV up 3.6% to $410.5M; Zollege returns to accrual
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- NAV $410.5M, NAV per share $25.61 (+0.4% QoQ); Q2 ROE 13.8%, LTM ROE 9.1% beats BDC avg 7.3%
- Total investment income $30.6M, down 28.8% YoY due to non-recurrence of $7.9M Knowland interest and lower rates
- Adjusted NII $0.58 per share, down from $0.66 last quarter and $1.33 YoY; base dividend $0.75 per share (12.3% yield)
- Zollege returned to accrual; only one non-accrual (Pepper Palace) at 0.2% of fair value and 0.3% at cost
- Originations $52.2M in three follow-ons and BB/BBB CLO investments; net originations $22.4M; subsequent closings $52.3M

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1377936/000121390025097029/0001213900-25-097029-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1377936/000121390025097029/ea0260532-8k_saratoga.htm
  HTML page:      https://secwatch.observer/filing/0001213900-25-097029

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