Recent 8-K filings for SAR

• August 26, 2026, 11:27 AM ET debt materiality 0.60 neutral item 1.01item 2.03item 9.01

  Saratoga Investment issues $85M 8.00% notes due 2031; proceeds to redeem 6.00% notes

  $85.0M aggregate principal 8.00% Notes due 2031; maturity Aug 31, 2031; quarterly interest.

• August 19, 2026, 4:54 PM ET debt materiality 0.60 neutral item 1.01item 2.03item 8.01item 9.01

  Saratoga Investment issues $85M 8.00% Notes due 2031; redeems $105.5M of 6.00% Notes due 2027

  Underwriting agreement with Lucid Capital Markets for $85M principal of 8.00% Notes due 2031; up to $12.75M additional within 30 days.

• August 5, 2026, 7:35 PM ET leadership materiality 0.35 neutral item 5.02

  Saratoga Investment Corp. appoints Scott E. Zoellner as independent director, expanding board to six

  Board increased from five to six members; Zoellner appointed effective August 5, 2026.

• July 7, 2026, 4:05 PM ET earnings materiality 0.75 negative item 2.02item 9.01

  Saratoga Investment Q1 FY2027: NAV per share down 4.9% to $23.23; EPS loss of $0.42

  Adjusted NII per share $0.47 vs $0.53 prior quarter; total investment income $30.8M, down 4.8% YoY.

• May 5, 2026, 7:59 PM ET earnings materiality 0.75 neutral item 2.02item 9.01 ◈ Earnings Releases

  Saratoga Investment FY2026 ROE 9.1% beats prior year; AUM up 13.4% to $1.11B

  Annual ROE 9.1% vs 7.5% prior year and BDC industry avg of 4.3%; EPS $2.31 vs $2.02.

• April 14, 2026, 7:59 PM ET debt materiality 0.70 neutral item 1.01item 2.03item 9.01 ◈ Material Agreements ×2◈ Debt Financings

  Saratoga Investment Corp. Issues $25M of 7.25% Notes Due 2029

  Issued $25 million of 7.25% Notes due 2029 to an institutional investor in a private placement.

• March 13, 2026, 7:59 PM ET other material materiality 0.10 neutral item 1.01item 9.01 ◈ Material Agreements

  Saratoga Investment Corp. amends ATM equity distribution agreement for new shelf registration

  Amendment No. 5 to Equity Distribution Agreement effective March 13, 2026.

• February 6, 2026, 6:59 PM ET debt materiality 0.50 neutral item 1.01item 2.03item 9.01 ◈ Debt Financings◈ Material Agreements

  Saratoga Investment Corp. issues $100M 7.50% Notes due 2031, proceeds to repay existing 4.375% notes

  Issued $100.0M aggregate principal of 7.50% Notes due 2031; net proceeds ~$96.375M after underwriting discount and expenses.

• January 30, 2026, 6:59 PM ET debt materiality 0.70 neutral item 1.01item 2.03item 9.01 ◈ Debt Financings◈ Material Agreements

  Saratoga Investment Corp issues $100M of 7.50% Notes due 2031

  Offering of $100M aggregate principal amount of 7.50% Notes due 2031; underwriters may purchase up to $15M additional within 30 days.

• January 27, 2026, 6:59 PM ET debt materiality 0.50 neutral item 1.01item 2.03item 8.01item 9.01 ◈ Debt Financings◈ Material Agreements

  Saratoga Investment Corp. issues $50M 7.25% Senior Notes due 2030; proceeds to redeem 4.375% Notes due 2026

  Issued $50M aggregate principal of 7.25% Senior Unsecured Notes due May 1, 2030 in private placement.

• January 7, 2026, 6:59 PM ET earnings materiality 0.75 positive item 2.02item 9.01

  Saratoga Investment Q3 NII $0.61 (+5.2% QoQ), NAV stable $25.59, ROE 13.5%

  NII per share $0.61, up $0.03 from Q2; adjusted NII $0.61; EPS $0.74 vs $0.84 last quarter.

• November 7, 2025, 6:59 PM ET debt materiality 0.55 neutral item 1.01item 1.02item 2.03item 9.01 ◈ Debt Financings

  Saratoga Investment enters $85M Valley National credit facility, terminates prior Encina facility

  New $85M revolving credit facility with Valley National Bank; can be increased to $100M in first two years.

• October 7, 2025, 7:59 PM ET earnings materiality 0.65 positive item 2.02item 9.01

  Saratoga Investment Q2 NAV up 3.6% to $410.5M; Zollege returns to accrual

  NAV $410.5M, NAV per share $25.61 (+0.4% QoQ); Q2 ROE 13.8%, LTM ROE 9.1% beats BDC avg 7.3%

• September 26, 2025, 7:59 PM ET other materiality 0.15 neutral item 5.07

  Saratoga Investment Corp. annual meeting: directors elected, auditor ratified

  Stockholders elected Steven M. Looney (4,474,615 for, 892,437 withheld) and Charles S. Whitman III (4,365,201 for, 1,001,851 withheld) to the board until 2028.

• July 8, 2025, 7:59 PM ET earnings materiality 0.75 positive item 2.02item 9.01

  Saratoga Investment Q1 adjusted NII up 17.9% QoQ to $0.66; ROE beats industry at 14.1% annualized

  Adjusted NII per share $0.66, up 17.9% from $0.56 last quarter; total NII $10.1M.

• May 7, 2025, 7:59 PM ET earnings materiality 0.70 neutral item 2.02item 9.01

  Saratoga Investment FY2025 NAV per share $25.86, adjusted NII $3.81, dividend raised to $0.75/Q

  FY2025 adjusted NII per share $3.81 vs $4.10 YoY; total NAV up $22.5M to $392.7M.

• January 8, 2025, 6:59 PM ET earnings materiality 0.65 positive item 2.02item 9.01

  Saratoga Investment Q3 FY2025: Adj NII $0.90, LTM ROE 9.2%, $84.5M originations, $0.35 special dividend

  Adj NII per share $0.90 (excl. Knowland reversal) vs $0.89 prior quarter; GAAP EPS $0.64; NII yield 13.3%.

• October 23, 2024, 7:59 PM ET other materiality 0.10 neutral item 5.07

  Saratoga Investment Corp. re-elects Christian L. Oberbeck as director at 2024 annual meeting

  Annual meeting held Oct 23, 2024; record date July 29, 2024 with 13,745,769 eligible shares.

• October 8, 2024, 7:59 PM ET earnings materiality 0.70 positive item 2.02item 9.01

  Saratoga Investment Q2 NII per share $1.33, up 26.7% sequentially; NAV per share rises to $27.07

  Total investment income $43.0M, up 21.1% YoY from $35.5M; includes $7.9M Knowland interest reserve reversal.

• September 25, 2024, 7:59 PM ET other material materiality 0.30 neutral item 7.01item 8.01item 9.01

  Saratoga Investment postpones annual meeting to Oct 23 due to anticipated lack of quorum

  Original meeting Sept 26, 2024 postponed to Oct 23, 2024 at 10 a.m. ET at Ropes and Gray offices.

• July 9, 2024, 7:59 PM ET earnings materiality 0.70 neutral item 2.02item 9.01

  Saratoga Investment Q1 NII $1.05/sh, dividend raised to $0.74, NAV per share $26.85

  Net investment income per share $1.05 (vs $1.35 YoY); adjusted NII also $1.05.

• June 17, 2024, 7:59 PM ET debt materiality 0.50 neutral item 1.01item 2.03item 9.01

  Saratoga Investment increases SPV credit facility from $50M to $75M

  Borrowing capacity under Live Oak Credit Facility raised from $50M to $75M.

• May 15, 2024, 7:59 PM ET other materiality 0.25 neutral item 1.01item 9.01 ◈ Material Agreements

  Saratoga Investment adds Lucid Capital Markets as distribution agent to ATM program

  Amendment No. 4, dated May 15, 2024, adds Lucid Capital Markets as a distribution agent to the existing Equity Distribution Agreement.

• May 6, 2024, 7:59 PM ET earnings materiality 0.80 positive item 2.02item 9.01 ◈ Earnings Releases

  Saratoga Investment Q4 FY2024 adj NII $0.94/share; AUM $1.139B; dividend $0.73

  FY2024 NII per share $4.49 (+53% YoY); adjusted NII $4.10 (+44% YoY).

• March 28, 2024, 7:59 PM ET debt materiality 0.55 neutral item 1.01item 2.03item 9.01 ◈ Material Agreements

  Saratoga Investment Corp. closes $50M credit facility, expandable to $150M, via subsidiary SIF III

  SIF III entered $50M Live Oak facility; can increase up to $150M within 2 years subject to conditions.

• January 9, 2024, 6:59 PM ET earnings materiality 0.75 neutral item 2.02item 9.01 ◈ Earnings Releases

  Saratoga Investment Q3 adjusted NII $1.01/share, up 31% YoY; AUM $1.114B

  Adjusted NII per share $1.01 vs $0.77 year ago; GAAP NII $1.09 per share.

• October 10, 2023, 7:59 PM ET earnings materiality 0.75 positive item 2.02item 9.01 ◈ Earnings Releases

  Fiscal Q2 2024: Adj NII $1.08/sh, dividend $0.71, AUM $1.099B, NAV $28.44

  Net investment income $1.15/sh ($1.08 adjusted), up 86% YoY on adj. basis; EPS $0.65 vs ($0.02) last quarter.

• September 28, 2023, 7:59 PM ET other material materiality 0.15 neutral item 5.07 ◈ Shareholder Votes

  Saratoga Investment Corp. announces election of two directors at annual meeting

  At Sept. 28, 2023 annual meeting, stockholders elected G. Cabell Williams and Henri J. Steenkamp as directors.

• July 19, 2023, 7:59 PM ET other materiality 0.10 neutral item 1.01item 9.01 ◈ Material Agreements

  Saratoga adds Raymond James as distribution agent for ATM equity program

  Raymond James & Associates added as distribution agent under existing equity distribution agreement dated July 30, 2021.

• July 10, 2023, 7:59 PM ET earnings materiality 0.70 positive item 2.02item 9.01 ◈ Earnings Releases

  Saratoga Investment Q1 NII per share $1.35, up 105% YoY; AUM hits $1.08B

  NII per share $1.35 (up 105% YoY, 67% QoQ); adjusted NII per share $1.08 (up 104% YoY); EPS ($0.02) on unrealized losses.

• July 10, 2023, 7:59 PM ET other material materiality 0.60 neutral item 1.01item 9.01 ◈ Material Agreements

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

  Increased maximum aggregate offering of common stock under ATM program to $300M from $150M on July 10, 2023.

• May 2, 2023, 7:59 PM ET earnings materiality 0.85 positive item 2.02item 9.01 ◈ Earnings Releases

  Saratoga Investment Q4 FY2023: NII per share up 69% YoY, AUM up 19% to $972.6M, dividend raised to $0.69

  NII per share $0.81; adjusted NII per share $0.98, up 85% from $0.53 in Q4 prior year.

• April 14, 2023, 7:59 PM ET debt materiality 0.70 neutral item 1.01item 2.03item 9.01 ◈ Material Agreements ×2◈ Debt Financings

  Saratoga Investment Corp. issues $50M of 8.50% Notes due 2028

  Issued $50M principal amount of 8.50% Notes due April 15, 2028; underwriters may purchase up to $7.5M additional.

• February 2, 2023, 6:59 PM ET debt materiality 0.60 positive item 1.01item 2.03item 9.01 ◈ Debt Financings◈ Material Agreements

  Saratoga Investment amends credit facility: borrowing base raised to $65M, maturity extended to Jan 2026

  Facility increased from $50M to $65M; maximum potential facility increase raised from $75M to $150M.

• January 10, 2023, 6:59 PM ET earnings materiality 0.80 positive item 2.02item 9.01 ◈ Earnings Releases

  Saratoga Investment Q3 NII per share $0.83, up 84% YoY; dividend raised 26% to $0.68

  NII per share $0.83 (up 30% QoQ, 84% YoY); adjusted NII per share $0.77 (up 33% QoQ, 45% YoY).

• December 13, 2022, 6:59 PM ET debt materiality 0.60 neutral item 1.01item 2.03item 9.01 ◈ Debt Financings◈ Material Agreements

  Saratoga Investment Corp. issues $52.5M of 8.125% Notes due 2027

  Principal amount $52.5M; interest rate 8.125% per year; maturity Dec 31, 2027.

• December 6, 2022, 6:59 PM ET debt materiality 0.40 neutral item 1.01item 2.03item 9.01 ◈ Debt Financings◈ Material Agreements

  Saratoga Investment Corp. issues $52.5M of 8.125% Notes due 2027

  Underwriting agreement signed Dec 5, 2022 for $52.5M aggregate principal amount of 8.125% Notes due 2027.

• October 27, 2022, 7:59 PM ET debt materiality 0.55 neutral item 2.03item 1.01item 9.01 ◈ Debt Financings

  Saratoga Investment Corp. issues $40M 8.00% notes due 2027; net proceeds ~$38.45M

  Principal amount of $40M, interest at 8.00% per year, maturity October 31, 2027.

• October 20, 2022, 7:59 PM ET debt materiality 0.60 neutral item 1.01item 2.03item 9.01

  Saratoga Investment Corp. issues $40M of 8.00% notes due 2027

  Issued $40M aggregate principal of 8.00% Notes due 2027 via underwritten offering.

• October 4, 2022, 7:59 PM ET earnings materiality 0.65 neutral item 2.02item 9.01

  Saratoga Investment Q2 2023: NII $0.64/sh, NAV $28.27, AUM $954.7M; SBIC III approved

  NII per share $0.64 (adjusted $0.58); EPS $0.08 vs $0.71 YoY; dividend increased to $0.54/share.

• September 29, 2022, 7:59 PM ET regulatory materiality 0.60 positive item 8.01item 9.01

  Saratoga Investment receives third SBIC license from SBA for up to $175M in debentures

  Third SBIC license approved by SBA, providing up to $175 million in additional long-term capital via SBA-guaranteed debentures.

• September 29, 2022, 7:59 PM ET other materiality 0.15 neutral item 5.07

  Saratoga Investment re-elects Looney and Whitman as directors with >90% votes

  Steven M. Looney received 5,466,653 votes for, 546,564 withheld; Charles S. Whitman III received 5,446,091 for, 567,126 withheld.

• September 12, 2022, 7:59 PM ET debt materiality 0.50 neutral item 1.01item 2.03

  Saratoga Investment issues $12M of 7.00% Notes due 2025 in private placement

  Issued $12.0M in 7.00% Notes due Sept 8, 2025; net proceeds ~$11.56M after fees.

• August 15, 2022, 7:59 PM ET debt materiality 0.50 neutral item 2.03item 1.01item 9.01

  Saratoga Investment issues additional $8M of 6.00% notes due 2027; total $105.5M

  Issued $8M additional 6.00% Notes due 2027; total outstanding now $105.5M.

• July 6, 2022, 7:59 PM ET earnings materiality 0.75 negative item 2.02item 9.01

  Saratoga Investment posts Q1 FY2023 loss of $0.12 EPS; adjusted NII $0.53

  Net loss $1.5M ($0.12 EPS) vs net income $21.0M ($1.88 EPS) a year ago; NII $8.0M ($0.66/share).

• June 14, 2022, 7:59 PM ET debt materiality 0.50 neutral item 8.01item 9.01

  Saratoga Investment Corp. to redeem all $43.1M of 7.25% Notes due 2025 on July 14, 2022

  Redeeming $43,125,000 aggregate principal of 7.25% Notes due 2025 at par ($25/note) plus accrued interest.

• May 4, 2022, 7:59 PM ET earnings materiality 0.70 positive item 2.02item 9.01

  Saratoga Investment reports FY22 adjusted NII $2.24/sh, NAV per share $29.33 (all-time high); ROE 13.9%

  FY22 total investment income $70.7M (+22.7% YoY); adjusted NII $25.7M ($2.24/sh).

• April 27, 2022, 7:59 PM ET debt materiality 0.75 neutral item 2.03item 1.01item 9.01

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

  Issued $87.5M aggregate principal amount of 6.00% Notes due April 30, 2027; interest payable quarterly starting Aug 31, 2022.

• April 20, 2022, 7:59 PM ET debt materiality 0.50 neutral item 2.03item 1.01item 9.01

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

  $87.5M aggregate principal of 6.00% Notes due 2027; underwriters may purchase up to $12.5M additional.

• January 19, 2022, 6:59 PM ET debt materiality 0.50 neutral item 1.01item 2.03item 9.01

  Saratoga Investment Corp. issues $75M of 4.35% Notes due 2027, net proceeds ~$72.7M

  Issued $75M aggregate principal amount of 4.35% Notes due 2027, maturing Feb 28, 2027.

Earnings & guidance

Materiality & sentiment trend

Max materiality 0.85 · Median 0.60 · Most common event debt

13 positive 2 negative 35 neutral

source · SAR on sec.gov