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.

• 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.

• 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 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.

• 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%

• 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 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.

• 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.

• 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).

• 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.

• 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.

• 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.

• 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).

• 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.

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