Transaction Information
New York, NY - Saratoga Investment Corp. (NYSE:SAR) (the "Company") announced that it has priced an underwritten public offering of $87.5 million in aggregate principal amount of 6.00% Unsecured Notes due 2027. The Company has granted the underwriters an option to purchase up to an additional $12.5 million in aggregate principal amount of Notes. Saratoga received an investment grade rating of "BBB+" from Egan Jones on the offering.
Ladenburg Thalmann acted as Lead Bookrunner. This is the fourth transaction Ladenburg has led YTD for '40 Act companies, raising gross proceeds of $317.5 million. Since 2017, Ladenburg has led 50 transactions for '40 Act companies raising over $2.3 billion.
About Saratoga Investment Corp.
Saratoga Investment Corp. is a specialty finance company that provides customized financing solutions to U.S. middle-market businesses. The Company invests primarily in senior and unitranche leveraged loans and mezzanine debt, and, to a lesser extent, equity to provide financing for change of ownership transactions, strategic acquisitions, recapitalizations and growth initiatives in partnership with business owners, management teams and financial sponsors.
Saratoga Investment Corp.'s objective is to create attractive risk-adjusted returns by generating current income and long-term capital appreciation from its debt and equity investments. Saratoga Investment Corp. has elected to be regulated as a business development company under the Investment Company Act of 1940 and is externally-managed by Saratoga Investment Advisors, LLC, an SEC-registered investment advisor focusing on credit-driven strategies.
The information and material presented is provided for informational purposes only and are not to be used or considered as an offer or the solicitation of an offer to sell or buy any securities mentioned herein.