Saratoga Investment Corp. Files Q1 2024 10-Q
Ticker: SAV · Form: 10-Q · Filed: Jul 9, 2024 · CIK: 1377936
| Field | Detail |
|---|---|
| Company | Saratoga Investment Corp. (SAV) |
| Form Type | 10-Q |
| Filed Date | Jul 9, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 17 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
Saratoga Investment Corp. filed its 10-Q for Q1 2024. Check financials.
AI Summary
Saratoga Investment Corp. filed its 10-Q for the quarterly period ended May 31, 2024. The company, formerly known as GSC Investment Corp., is incorporated in Maryland and headquartered in New York. Its common stock is registered on a stock exchange, though the specific exchange and trading symbol are not detailed in this excerpt.
Why It Matters
This filing provides investors with an update on Saratoga Investment Corp.'s financial performance and operational status for the first quarter of fiscal year 2024.
Risk Assessment
Risk Level: low — This is a standard quarterly filing providing financial information, not indicating immediate or significant new risks.
Key Players & Entities
- SARATOGA INVESTMENT CORP. (company) — Registrant
- GSC INVESTMENT CORP. (company) — Former company name
- May 31, 2024 (date) — Quarterly period end date
- 20240709 (date) — Filing date
- 535 Madison Avenue (location) — Principal executive office address
FAQ
What is the exact fiscal year end for Saratoga Investment Corp.?
The fiscal year end for Saratoga Investment Corp. is February 28.
When was Saratoga Investment Corp. previously known by another name?
Saratoga Investment Corp. was formerly known as GSC Investment Corp. and GSC Investment LLC.
What is the state of incorporation for Saratoga Investment Corp.?
Saratoga Investment Corp. is incorporated in Maryland.
What is the principal executive office address of Saratoga Investment Corp.?
The principal executive office address is 535 Madison Avenue, New York, New York 10022.
What is the filing date of this 10-Q report?
This 10-Q report was filed on July 9, 2024.
Filing Stats: 4,356 words · 17 min read · ~15 pages · Grade level 8.2 · Accepted 2024-07-09 16:01:46
Key Financial Figures
- $0.001 — ich registered Common Stock, par value $0.001 per share SAR The New York Stock Exchan
Filing Documents
- ea0208311-10q_saratoga.htm (10-Q) — 7964KB
- ea020831101ex31-1_saratoga.htm (EX-31.1) — 7KB
- ea020831101ex31-2_saratoga.htm (EX-31.2) — 8KB
- ea020831101ex32-1_saratoga.htm (EX-32.1) — 4KB
- ea020831101ex32-2_saratoga.htm (EX-32.2) — 4KB
- 0001213900-24-060116.txt ( ) — 37247KB
- sar-20240531.xsd (EX-101.SCH) — 267KB
- sar-20240531_cal.xml (EX-101.CAL) — 61KB
- sar-20240531_def.xml (EX-101.DEF) — 777KB
- sar-20240531_lab.xml (EX-101.LAB) — 1504KB
- sar-20240531_pre.xml (EX-101.PRE) — 821KB
- ea0208311-10q_saratoga_htm.xml (XML) — 10941KB
Notes to Consolidated Financial Statements as of May 31, 2024 (unaudited)
Notes to Consolidated Financial Statements as of May 31, 2024 (unaudited) 34 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 112 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 145 Item 4.
Controls and Procedures
Controls and Procedures 146 PART II. OTHER INFORMATION 147 Item 1.
Legal Proceedings
Legal Proceedings 147 Item 1A.
Risk Factors
Risk Factors 147 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 147 Item 3. Defaults Upon Senior Securities 147 Item 4. Mine Safety Disclosures 147 Item 5. Other Information 147 Item 6. Exhibits 148
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Consolidated Financial Statements
Item 1. Consolidated Financial Statements Saratoga Investment Corp. Consolidated Statements of Assets and Liabilities May 31, 2024 February 29, 2024 (unaudited) ASSETS Investments at fair value Non-control/Non-affiliate investments (amortized cost of $ 1,018,223,820 and $ 1,035,879,751 , respectively) $ 1,016,275,510 $ 1,019,774,616 Affiliate investments (amortized cost of $ 26,950,411 and $ 26,707,415 , respectively) 28,593,356 27,749,137 Control investments (amortized cost of $ 77,443,726 and $ 117,196,571 , respectively) 50,690,574 91,270,036 Total investments at fair value (amortized cost of $ 1,122,617,957 and $ 1,179,783,737 , respectively) 1,095,559,440 1,138,793,789 Cash and cash equivalents 32,228,082 8,692,846 Cash and cash equivalents, reserve accounts 61,068,835 31,814,278 Interest receivable (net of reserve of $ 10,431,823 and $ 9,490,340 , respectively) 9,618,449 10,298,998 Management fee receivable 335,056 343,023 Other assets 1,686,122 1,163,225 Current income tax receivable 15,431 99,676 Receivable from open trade 1,269,231 - Total assets $ 1,201,780,646 $ 1,191,205,835 LIABILITIES Revolving credit facilities $ 45,500,000 $ 35,000,000 Deferred debt financing costs, revolving credit facilities ( 1,538,040 ) ( 882,122 ) SBA debentures payable 214,000,000 214,000,000 Deferred debt financing costs, SBA debentures payable ( 5,543,363 ) ( 5,779,892 ) 8.75% Notes Payable 2025 20,000,000 20,000,000 Discount on 8.75% notes payable 2025 ( 87,537 ) ( 112,894 ) Deferred debt financing costs, 8.75% notes payable 2025 ( 3,667 ) ( 4,777 ) 7.00% Notes Payable 2025 12,000,000 12,000,000 Discount on 7.00 % notes payable 2025 ( 162,963 ) ( 193,175 ) Deferred debt financing costs, 7.00 % notes payable 2025 ( 20,211 ) ( 24,210 ) 7.75% Notes Payable 2025 5,000,000 5,000,000 Deferred debt financing costs, 7.75 % notes payable 2025 ( 60,707 ) ( 74,531 ) 4.375