secwatch.observer — SEC 8-K summary
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Issuer:     SARATOGA INVESTMENT CORP. (SAR)
CIK:        0001377936
Form:       8-K
Filed at:   2026-10-09T20:34:18+00:00
Accession:  0001213900-26-108523
Event type: debt
Sentiment:  positive
Materiality: 0.40
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

Saratoga unit expands Valley National credit facility to $110M from $85M; accordion raised to $135M
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- First Amendment to Credit and Security Agreement dated October 8, 2026 lifts borrowings at Saratoga Investment Funding II LLC from $85.0M to $110.0M under the Valley Credit Facility.
- Accordion expanded: SIF II may request commitment increases up to $135.0M (from $100.0M) in the first two years after closing, subject to conditions and a customary fee.
- Advance Rate on Unitranche Loans capped at 70%; healthcare concentration limit raised to 35% from 25% of Aggregate ECA Value; top-three obligor limit to 35% from 30%.
- "Key Person" definition amended to replace Henri Steenkamp with Christine Ramdihal; Valley National Bank is administrative agent, U.S. Bank Trust collateral agent, Bank OZK documentation agent.
- Company reps that no Default, Event of Default or Ratings Deficiency exists; original credit agreement dated November 6, 2025; existing security interests remain in force.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1377936/000121390026108523/0001213900-26-108523-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1377936/000121390026108523/ea0308242-8k_saratoga.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-108523

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