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An update from Saratoga Investment ( (SAR) ) is now available.
On April 10, 2026, Saratoga Investment Corp. privately issued $25 million of 7.25% unsecured notes due 2029 to an institutional investor, with potential to increase the issuance to a total of $50 million by July 10, 2026. The notes, which closed on April 10, 2026 at 98% of par for net proceeds of about $24.3 million earmarked for general corporate purposes, pay quarterly interest starting May 31, 2026, mature April 10, 2029 with an optional extension to October 10, 2029, and are redeemable at par plus interest on or after April 10, 2027.
The new notes rank pari passu with Saratoga’s other unsecured debt, but are effectively and structurally subordinated to its secured borrowings and subsidiary-level obligations, and are subject to covenants tied to asset coverage, dividend and distribution limits, and ongoing financial reporting. In addition, noteholders gain change-of-control-style protection allowing early repayment if Saratoga Investment Advisors, LLC ceases to directly manage the company or certain key executives depart without acceptable replacement, or if the firm breaches specified Investment Company Act leverage provisions, shaping investor protections around leverage, governance continuity, and management stability.
The most recent analyst rating on (SAR) stock is a Hold with a $23.00 price target. To see the full list of analyst forecasts on Saratoga Investment stock, see the SAR Stock Forecast page.
Spark’s Take on SAR Stock
According to Spark, TipRanks’ AI Analyst, SAR is a Neutral.
The score is held back primarily by balance-sheet risk and data-consistency red flags in the financials, alongside weak technical momentum. These are partly offset by attractive valuation (low P/E and high yield) and a cautiously constructive earnings-call backdrop supported by liquidity and strong credit metrics.
To see Spark’s full report on SAR stock, click here.
More about Saratoga Investment
Saratoga Investment Corp. is a business development company that provides financing solutions to middle-market businesses in the United States. The firm primarily invests through debt instruments and related securities, aiming to deliver income-focused returns to investors while maintaining regulatory asset coverage requirements under the Investment Company Act of 1940.
Average Trading Volume: 129,712
Technical Sentiment Signal: Strong Buy
For a thorough assessment of SAR stock, go to TipRanks’ Stock Analysis page.