NEW YORK, July 10, 2018 /PRNewswire/ -- Saratoga Investment
Corp. (the "Company") (NYSE: SAR) today announced the commencement
of a public offering of 1,000,000 shares of common stock. The
Company also plans to grant the underwriters a 30-day option to
purchase up to an additional 150,000 shares of its common
stock.
The Company intends to use substantially all of the net proceeds
of this public offering to make investments in middle-market
companies in accordance with its investment objective and
strategies and for general corporate purposes. The Company may also
use a portion of the net proceeds to reduce its outstanding
borrowings.
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg
Thalmann Financial Services Inc. (NYSE American: LTS), is acting as
the lead book-running manager, and BB&T Capital Markets, a
division of BB&T Securities, LLC, B. Riley FBR, Inc., Compass
Point and Janney Montgomery Scott LLC are acting as joint
book-running managers for the offering. Investors are advised to
consider carefully the investment objective, risks and charges and
expenses of the Company before investing.
This offering will be made pursuant to an effective shelf
registration statement on Form N-2 that has been filed with
the U.S. Securities and Exchange Commission. The offering may
be made only by means of a prospectus and a related prospectus
supplement, copies of which may be obtained, when available, from
any of the following investment banks: Ladenburg Thalmann,
Attn: Syndicate Department, 277 Park Avenue, 26th Floor,
New York, NY 10172, or by
emailing prospectus@ladenburg.com (telephone number
1-800-573-2541); BB&T Capital Markets at 901 East Byrd Street,
3rd Floor, Richmond, VA 23219
Attn: Syndicate Dept. or via email request:
prospectusrequests@bbandtcm.com; B. Riley FBR, Inc., 1300 North
17th Street, Suite 1400, Arlington,
VA 22209 or via email request at prospectuses@brileyfbr.com;
Compass Point Research & Trading, LLC 1055 Thomas Jefferson
Street NW, Suite 303 Washington,
D.C. 20007, or email at syndicate@compasspointllc.com;
Janney Montgomery Scott LLC,
Attn: Syndicate Department, 1717 Arch Street, Philadelphia, PA 19103, or by emailing
prospectus@janney.com. The preliminary prospectus supplement
and the accompanying prospectus contains a description of these
matters and other important information about the Company and
should be read carefully before investing. Investors are
advised to carefully consider the investment objectives, risks and
charges and expenses of the Company 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
shares 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.
About Saratoga Investment Corp.
Saratoga Investment Corp. is a specialty finance company that
invests primarily in leveraged loans and mezzanine debt issued by
privately owned U.S. middle-market businesses, which the Company
defines as companies having annual EBITDA (earnings before
interest, taxes, depreciation and amortization) of between
$2 million and $50 million, both through direct lending and
through participation in loan syndicates. Saratoga Investment
Corp.'s objective is to generate current income and, to a lesser
extent, capital appreciation from our investments. Saratoga
Investment Corp. has elected to be regulated as a business
development company ("BDC") under the Investment Company Act of
1940 and is externally-managed by Saratoga Investment Advisors,
LLC, a New York-based investment
firm affiliated with Saratoga Partners, a middle market private
equity investment firm. Within the BDC, Saratoga Investment
Corporation manages both an SBIC-licensed subsidiary and a
Collateralized Loan Obligation (CLO) fund. The Company believes
these diverse funding sources, combined with a permanent capital
base, enable Saratoga Investment Corp. to offer a broad range of
financing solutions.
Forward Looking Statements
Statements included herein may contain "forward-looking
statements". Statements other than statements of historical facts
included in this press release may constitute forward-looking
statements and are not guarantees of future performance or results
and involve a number of assumptions, risks and uncertainties, which
change over time. Actual results may differ materially from those
anticipated in any forward-looking statements as a result of a
number of factors, including those described from time to time in
filings by the Company with the Securities and Exchange Commission.
Except as required by law, the Company undertakes no duty to update
any forward-looking statement made herein. All forward-looking
statements speak only as of the date of this press release.
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SOURCE Saratoga Investment Corp.