{"id":697,"date":"2018-08-24T15:33:49","date_gmt":"2018-08-24T15:33:49","guid":{"rendered":"http:\/\/henristeenkamp.com\/?p=697"},"modified":"2019-05-06T19:34:18","modified_gmt":"2019-05-06T19:34:18","slug":"saratoga-investment-corp-prices-public-offering-of-35-million-6-25-notes-due-2025","status":"publish","type":"post","link":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/saratoga-investment-corp-prices-public-offering-of-35-million-6-25-notes-due-2025\/","title":{"rendered":"Saratoga Investment Corp. Prices Public Offering of $35 Million 6.25% Notes Due 2025"},"content":{"rendered":"
\n
Aug 21, 2018<\/div>\n<\/div>\n
\n

NEW YORK,\u00a0Aug. 21, 2018\u00a0(GLOBE NEWSWIRE) —\u00a0Saratoga Investment Corp.\u00a0(the \u201cCompany\u201d) (NYSE: SAR) today announced that it has priced an underwritten public offering of\u00a0$35 million\u00a0in aggregate principal amount of 6.25% unsecured notes due 2025 (the \u201cNotes\u201d). The Notes will mature on\u00a0August 31, 2025, and may be redeemed in whole or in part at any time or from time to time at Saratoga Investment Corp.\u2019s option on or after\u00a0August 31, 2021. The notes will bear interest at a rate of 6.25% per year payable quarterly on\u00a0February 28,\u00a0May 31,\u00a0August 31\u00a0and\u00a0November 30\u00a0of each year, beginning\u00a0November 30, 2018.<\/p>\n

The offering is expected to close on\u00a0August 28, 2018, subject to customary closing conditions. The Company has granted the underwriters an option to purchase up to an additional\u00a0$5 million\u00a0in aggregate principal amount of Notes.\u00a0 The Notes are expected to be listed on the\u00a0New York Stock Exchange\u00a0and to trade thereon within 30 days of the original issue date under the trading symbol \u201cSAF\u201d.<\/p>\n

The Company has received an investment grade private rating of \u201cBBB\u201d from\u00a0Egan-Jones Ratings Company, an independent, unaffiliated rating agency.<\/p>\n

Egan-Jones is a\u00a0Nationally Recognized Statistical Ratings Organization\u00a0(NRSRO) and is recognized by the\u00a0National Association of Insurance Commissioners\u00a0(NAIC) as a Credit Rating Provider (CRP). Egan-Jones is also certified by the\u00a0European Securities\u00a0and Markets Authority (ESMA).<\/p>\n

Ladenburg Thalmann\u00a0& Co. Inc., a subsidiary of\u00a0Ladenburg Thalmann Financial Services Inc.\u00a0(NYSE American: LTS),\u00a0BB&T Capital Markets, a division of\u00a0BB&T Securities, LLC, and\u00a0Janney Montgomery Scott LLC\u00a0are acting as the joint book-running managers,\u00a0B. Riley FBR, Inc.,\u00a0Compass Point,\u00a0National Securities Corporation, a wholly owned subsidiary of\u00a0National Holdings, Inc.\u00a0(NASDAQ:NHLD) and\u00a0William Blair\u00a0are acting as joint lead managers and\u00a0Maxim Group LLC\u00a0is acting as the\u00a0co-manager\u00a0for the offering.<\/p>\n

The Company expects to use the net proceeds from this offering to make investments in\u00a0middle-market\u00a0companies in accordance with the Company\u2019s investment objective and strategies and for general corporate purposes.<\/p>\n

Investors are advised to consider carefully the investment objective, risks and charges and expenses of the Company before investing.<\/p>\n

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 relating to the Notes was filed and has been declared effective by the\u00a0Securities and Exchange Commission.<\/p>\n

This offering is being made solely by means of a written prospectus forming part of the effective registration statement, which may be obtained for free by visiting the\u00a0Securities and Exchange Commission’s\u00a0website at\u00a0www.sec.gov<\/a>\u00a0or from of any of the following investment banks:\u00a0Ladenburg Thalmann, Attn:\u00a0Syndicate Department,\u00a0277 Park Avenue, 26th Floor,\u00a0New York, NY\u00a010172, or by emailing\u00a0prospectus@ladenburg.com<\/a>\u00a0(telephone number 1-800-573-2541);\u00a0BB&T Capital Markets\u00a0at\u00a0901 East Byrd Street, 3rd Floor,\u00a0Richmond, VA\u00a023219 Attn: Syndicate Dept. or via email request:\u00a0prospectusrequests@bbandtcm.com<\/a>;\u00a0Janney Montgomery Scott LLC, Attn:\u00a0Syndicate Department,\u00a01717 Arch Street,\u00a0Philadelphia, PA\u00a019103, or by emailing\u00a0prospectus@janney.com<\/a>;\u00a0B. Riley FBR, Inc.,\u00a01300 North 17th Street, Suite 1400,\u00a0Arlington, VA\u00a022209 or via email request at\u00a0prospectuses@brileyfbr.com<\/a>;\u00a0Compass Point Research & Trading, LLC\u00a01055 Thomas Jefferson Street NW, Suite 303\u00a0Washington, D.C.\u00a020007, or email at\u00a0syndicate@compasspointllc.com<\/a>;\u00a0William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza,\u00a0Chicago IL\u00a060606, or by telephone at 1-800-621-0687 or email at\u00a0prospectus@williamblair.com<\/a>;\u00a0Maxim Group LLC\u00a0at\u00a0405 Lexington Avenue,\u00a0New York, NY\u00a010174,\u00a0Attention Syndicate Department, or via email\u00a0at\u00a0syndicate@maximgrp.com<\/a>\u00a0or telephone at (212) 895-3745.\u00a0<\/em>The prospectus contains a description of these matters and other important information about the Company and should be read carefully before investing.<\/strong><\/p>\n

About\u00a0Saratoga Investment Corp.<\/strong><\/p>\n

Saratoga Investment Corp.\u00a0is 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\u00a0million and $50\u00a0million, both through direct lending and through participation in loan syndicates.\u00a0Saratoga Investment Corp.\u2019s objective is to generate current income and, to a lesser extent, capital appreciation from our investments.\u00a0Saratoga Investment Corp.\u00a0has elected to be regulated as a business development company (\u201cBDC\u201d) under the Investment Company Act of 1940 and is externally-managed by\u00a0Saratoga Investment Advisors, LLC, a\u00a0New York-based investment firm affiliated with\u00a0Saratoga Partners, a middle market private equity investment firm. Within the BDC,\u00a0Saratoga Investment Corporation\u00a0manages 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\u00a0Saratoga Investment Corp.\u00a0to offer a broad range of financing solutions.<\/p>\n

Forward Looking Statements
\n<\/strong><\/p>\n

Statements included herein may contain \u201cforward-looking statements\u201d. 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\u00a0Securities 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.<\/p>\n

 <\/p>\n

Source: Saratoga Investment Corp<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Aug 21, 2018 NEW YORK,\u00a0Aug. 21, 2018\u00a0(GLOBE NEWSWIRE) —\u00a0Saratoga Investment Corp.\u00a0(the \u201cCompany\u201d) (NYSE: SAR) today announced that it has priced an underwritten public offering of\u00a0$35 million\u00a0in aggregate principal amount of 6.25% unsecured notes due 2025 (the \u201cNotes\u201d). The Notes will mature on\u00a0August 31, 2025, and may be redeemed in whole or in part at any […]<\/p>\n","protected":false},"author":1176,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_mi_skip_tracking":false,"footnotes":""},"categories":[3,7,9,10,1],"tags":[95,110,111,112,113,116],"class_list":["post-697","post","type-post","status-publish","format-standard","hentry","category-blog","category-henri-steenkamp-2","category-saratoga-posts","category-saratoga-press-releases","category-uncategorized","tag-public-offering","tag-saratoga","tag-saratoga-corp","tag-saratoga-investment","tag-saratoga-investment-corp","tag-saratoga-press-release"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/posts\/697","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/users\/1176"}],"replies":[{"embeddable":true,"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/comments?post=697"}],"version-history":[{"count":0,"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/posts\/697\/revisions"}],"wp:attachment":[{"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/media?parent=697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/categories?post=697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/tags?post=697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}