Every material Form 8-K SARATOGA INVESTMENT CORP. has filed with the SEC since September 24, 2026, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Saratoga Investment Corp. and its subsidiary SIF II amended the Valley National Bank credit facility on October 8, 2026, raising available borrowings from $85.0 million to $110.0 million and allowing commitment increases up to $135.0 million over the first two years. The amendment also loosens concentration limits for healthcare and the three largest obligors and replaces Henri Steenkamp with Christine Ramdihal as Key Person.
Borrowings available under the Valley Credit Facility rise from $85.0 million to $110.0 million.
Permitted commitment increases during the first two years rise from $100.0 million to $135.0 million, subject to terms and a customary fee.
Healthcare concentration limit rises from 25.0% to 35.0% of Aggregate ECA Value; three largest obligors limit rises from 30.0% to 35.0%.
Christine Ramdihal replaces Henri Steenkamp as Key Person under the agreement.
Saratoga Investment reported fiscal second-quarter 2027 results for the period ended August 31, 2026, showing a loss of $0.41 per share, compared with earnings of $0.84 a year earlier. Net asset value per share fell to $22.15 from $23.23 in the prior quarter, while total investment income rose 2.0% year over year to $31.2 million. The results matter to shareholders because the NAV decline reflects portfolio markdowns and dividends above earnings, while the $0.75 per share quarterly dividend was unchanged.
Earnings per share were $(0.41), versus $(0.42) in the prior quarter and $0.84 a year earlier.
NAV per share fell to $22.15 from $23.23 on May 31, 2026; total NAV was $352.6 million, down $25.9 million for the quarter.
Adjusted net investment income was $0.46 per share, compared with $0.47 last quarter; total investment income was $31.2 million.
The company repurchased 444,124 shares at an average price of $18.91 and declared a $0.75 per share dividend for the third quarter of fiscal 2027.
Saratoga Investment Corp. issued an additional $23,092,350 of its 8.00% Notes due 2031, closing the sale on September 24, 2026. The company plans to use the net proceeds, about $22.5 million, to repay part of its Valley National Bank credit facility, and the total outstanding notes now stand at $120,842,350.
Additional notes sold: $23,092,350 principal, priced at 99.6% of par, with Lucid Capital Markets as representative of the underwriters
Net proceeds to the company of approximately $22,519,659.72 after a $480,320.88 underwriting discount and about $150,000 in estimated expenses
Notes pay 8.00% interest quarterly, mature August 31, 2031, and are redeemable at the company's option on or after August 26, 2028
Outstanding 8.00% notes due 2031 total $120,842,350 after this issuance
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