Filed Pursuant to Rule 497
File No. 333-269186
Rule 482ad
Saratoga Investment Corp. Prices Public Offering
of
$50.0 Million 8.50% Notes Due 2028
NEW YORK, NY (April 11, 2023) – Saratoga
Investment Corp. (the “Company”) (NYSE: SAR) today announced that it has priced an underwritten public offering of $50.0 million
in aggregate principal amount of 8.50% unsecured notes due 2028 (the “Notes”).
The Notes will mature on April 15, 2028, and
may be redeemed in whole or in part at any time or from time to time at the Company’s option on or after April 14, 2025. The Notes
will bear interest at a rate of 8.50% per year payable quarterly on February 28, May 31, August 31, and November 30 of each year, beginning
May 31, 2023.
The offering is expected to close on April
14, 2023, subject to customary closing conditions. The Company has granted the underwriters an option to purchase up to an additional
$7.5 million in aggregate principal amount of Notes. The Notes are expected to be listed on the New York Stock Exchange and to trade thereon
within 30 days of the original issue date under the trading symbol “SAZ”.
The Company has received an investment grade
private rating of “BBB+” from Egan-Jones Ratings Company, an independent, unaffiliated rating agency.
Egan-Jones is a Nationally Recognized Statistical
Rating Organization (NRSRO) and is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider
(CRP). Egan-Jones is also certified by the European Securities and Markets Authority (ESMA).
Ladenburg
Thalmann & Co. Inc., B. Riley Securities, Inc., and Oppenheimer & Co. Inc. are serving as joint book-running managers for this
offering. Compass Point Research & Trading, LLC, InspereX LLC, Janney Montgomery Scott
LLC and William Blair & Company, L.L.C. are serving as lead managers for this offering. Hovde Group, LLC and Maxim Group LLC are serving
as co-managers for this offering. The Company intends to use the net proceeds from this offering to repay a portion of outstanding
indebtedness under its senior secured revolving credit facility, make investments in middle-market companies in accordance with
the Company’s investment objective and strategies (including investments made through Saratoga
Investment Corp. SBIC III LP) and for general corporate purposes.
Investors are advised to consider carefully
the investment objective, risks and charges and expenses of the Company before investing. The preliminary prospectus supplement dated
April 11, 2023, and the accompanying prospectus dated March 13, 2023, each of which has been filed with the Securities and Exchange Commission
(the “SEC”), contains a description of these matters and other important information about the Company and should be read
carefully before investing.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy, nor will there be any sale of, the Notes referred to in this press release in any state
or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities
laws of such state or jurisdiction. A registration statement (File No. 333-269186) relating to the Notes was filed and has been declared
effective by the SEC.
This offering is being
made solely by means of a written prospectus forming part of the effective registration statement and a related preliminary prospectus
supplement, which may be obtained for free by visiting the SEC’s website at www.sec.gov or from of any of the following investment
banks: Ladenburg Thalmann, Attn: Syndicate Department, 640 Fifth Avenue, 4th Floor, New
York, NY 10019 (telephone number 1-800-573-2541), or by e-mailing prospectus@ladenburg.com; B.
Riley Securities, Inc., 299 Park Avenue, 21st
Floor, New York, NY 10171 by
emailing at prospectuses@brileyfin.com; and Oppenheimer & Co. Inc., Attn: Syndicate Prospectus
Department, 85 Broad Street, New York, NY 10004 or by e-mailing at FixedIncomeProspectus@opco.com.
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. Saratoga Investment Corp. owns
three SBIC-licensed subsidiaries, manages a $650 million collateralized loan obligation (“CLO”) fund and co-manages a joint
venture (“JV”) fund that owns a $400 million collateralized loan obligation (“JV CLO”) fund. It also owns
52% of the Class F and 100% of the subordinated notes of the CLO, 87.5% of both the unsecured loans and membership interests of the JV
and 87.5% of the Class E notes of the JV CLO. The Company’s diverse funding sources, combined with a permanent capital base,
enable Saratoga Investment Corp. to provide a broad range of financing solutions.
FORWARD-LOOKING STATEMENTS
Statements included herein contain certain
“forward-looking statements” within the meaning of the federal securities laws, including statements with regard to the Company’s
Notes offering and the anticipated use of the net proceeds of the offering. Forward-looking statements can be identified by the use of
forward looking words such as “outlook,” “believes,” “expects,” “potential,” “continues,”
“may,” “will,” “should,” “seeks,” “approximately,” “predicts,”
“intends,” “plans,” “estimates,” “anticipates” or negative versions of those words, other
comparable words or other statements that do not relate to historical or factual matters. The forward-looking statements are based on
our beliefs, assumptions and expectations of future events and our future performance, taking into account all information currently available
to us. These statements are not guarantees of future events, performance, condition or results and involve a number of risks and uncertainties.
Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including but not
limited to an economic downturn and its impact on the ability of our portfolio companies to operate and the investment opportunities available
to us; interest rate volatility; the impact of supply chain constraints; labor shortages; and the elevated levels of inflation, as well
as those described from time to time in our filings with the SEC. Any forward-looking statement speaks only as of the date on which it
is made. Saratoga Investment Corp. undertakes no duty to update any forward-looking statements made herein, whether as a result of new
information, future developments or otherwise, except as required by law.
Contact: Henri Steenkamp
Saratoga Investment Corp.
212-906-7800
Saratoga Investment (NYSE:SAR)
Graphique Historique de l'Action
De Avr 2024 à Mai 2024
Saratoga Investment (NYSE:SAR)
Graphique Historique de l'Action
De Mai 2023 à Mai 2024