Saratoga Investment Corp. Announces Offering of Notes and BBB+ Investment Grade Rating from Egan-Jones Ratings Company
April 18 2022 - 5:05PM
Saratoga Investment Corp. (the “Company”) (NYSE: SAR) announced the
commencement of a registered public offering of unsecured notes
(the “Notes”). The Company also announced that it has
received an investment grade 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).
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 “SAT”.
Ladenburg Thalmann & Co. Inc., B. Riley Securities, Inc.,
and Oppenheimer & Co. Inc. are serving as joint book-running
managers for this offering. Compass Point and InspereX LLC are
serving as lead managers for this offering. Hovde Group, LLC and
Maxim Group LLC are serving as co-managers for this offering.
Investors are advised to consider carefully the investment
objective, 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
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. 333-256366) relating to the Notes was filed and
has been declared effective by the Securities and Exchange
Commission.
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
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., at
1300 North 17th Street, Suite 1300, Arlington, VA 22209, by calling
(703) 312‐9580 or by emailing at prospectuses@brileyfin.com;
Oppenheimer & Co. Inc., Attn: Syndicate Prospectus
Department, 85 Broad Street, New York, NY 10004 or by e-mailing at
FixedIncomeProspectus@opco.com; Compass Point, 1055 Thomas
Jefferson St. NW, Suite 303, Washington, DC 20007, by calling (202)
540-7300, or by emailing at syndicate@compasspointllc.com; InspereX
LLC, Attn: Syndicate Department, 200 S. Wacker Drive, Suite 3400,
Chicago, IL 60606 (telephone number 1-800-327-1546) or by emailing
at prospectus_requests@insperex.com; Hovde Group, LLC, 1629
Colonial Parkway, Inverness, IL 60067 or by emailing at
mhedrei@hovdegroup.com; and Maxim Group LLC, 300 Park Ave, 16th
Floor, New York, NY 10022 or by emailing at
syndicate@maximgrp.com. The preliminary prospectus
supplement dated April 18, 2022, and the accompanying prospectus
dated July 7, 2021, each of which has been filed with the
Securities and Exchange Commission, contains a description of
these matters and other important information about the Company and
should be read carefully before investing.
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 two SBIC-licensed subsidiaries and manages a $650
million collateralized loan obligation (the “Saratoga CLO”)
fund. It also owns 52% of the Class F and 100% of the
subordinated notes of the Saratoga 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 the impact of the COVID-19
pandemic and the pandemic’s impact on the U.S. and global economy,
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
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