Saratoga Investment Corp. Files 8-K with Material Agreements

TL;DR

Saratoga Investment Corp. just filed an 8-K detailing new material definitive agreements and financial obligations.

AI Summary

Saratoga Investment Corp. entered into a material definitive agreement on March 27, 2024, related to its financial obligations. The company also filed financial statements and exhibits as part of this 8-K filing.

Why It Matters

This filing indicates significant financial activity or agreements for Saratoga Investment Corp., which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — Material definitive agreements and financial obligations can introduce new risks or alter existing ones for a company.

Key Players & Entities

• SARATOGA INVESTMENT CORP. (company) — Filer of the 8-K report
• March 27, 2024 (date) — Date of the earliest event reported
• March 28, 2024 (date) — Date of report filing

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share SAR New York Stock Exchan
• $50.0 million — dollars in an aggregate amount of up to $50.0 million. During the first two years following t
• $150.0 m — 50.0 million to an amount not to exceed $150.0 million, subject to certain terms and con
• $12.5 million — ement require a minimum drawn amount of $12.5 million at all times during the period ending M
• $25.0 million — 25 and, thereafter, the greater of: (i) $25.0 million and (ii) 50% of the facility amount in

Filing Documents

• ea0202640-8k_saratoga.htm (8-K) — 44KB
• ea020264001ex10-1_saratoga.htm (EX-10.1) — 1014KB
• ea020264001ex10-2_saratoga.htm (EX-10.2) — 85KB
• ea020264001ex10-3_saratoga.htm (EX-10.3) — 202KB
• ex10-1_001.jpg (GRAPHIC) — 3KB
• 0001213900-24-027201.txt ( ) — 1870KB
• sar-20240327.xsd (EX-101.SCH) — 4KB
• sar-20240327_def.xml (EX-101.DEF) — 27KB
• sar-20240327_lab.xml (EX-101.LAB) — 37KB
• sar-20240327_pre.xml (EX-101.PRE) — 26KB
• ea0202640-8k_saratoga_htm.xml (XML) — 8KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On March 27, 2024, Saratoga Investment Corp. (the " Company ") and its wholly owned special purpose subsidiary, Saratoga Investment Funding III LLC (" SIF III "), entered into a Credit and Security Agreement (the " Credit Agreement "), by and among SIF III, as borrower, the Company, as collateral manager and equityholder, the lenders from time to time parties thereto, Live Oak Banking Company (" Live Oak "), as administrative agent and collateral agent, U.S. Bank National Association, as custodian, and U.S. Bank Trust Company, National Association, as collateral administrator, relating to a special purpose vehicle financing credit facility (the " Live Oak Credit Facility "). The Live Oak Credit Facility provides for borrowings in U.S. dollars in an aggregate amount of up to $50.0 million. During the first two years following the closing date, SIF III may request one or more increases in the commitment amount from $50.0 million to an amount not to exceed $150.0 million, subject to certain terms and conditions and a customary fee. The terms of the Credit Agreement require a minimum drawn amount of $12.5 million at all times during the period ending March 27, 2025 and, thereafter, the greater of: (i) $25.0 million and (ii) 50% of the facility amount in effect at such time. The Live Oak Credit Facility matures on March 27, 2027. Advances are available during the term of the Live Oak Credit Facility and must be repaid in full at maturity. SIF III may request an extension of the maturity date by an additional one year, subject to the agreement of the lenders and an extension fee. Advances under the Live Oak Credit Facility are subject to a borrowing base calculation, and the Live Oak Credit Facility has various eligibility criteria for loans to be included in the borrowing base. Advances under the Live Oak Credit Facility bear interest at a floating rate per annum equal to Adjusted Term SOFR plus an applicable mar

03. Creation of a Direct Financial Obligation

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth in

01 of this Current Report on Form 8-K is incorporated herein by reference

Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference. 1

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Credit and Security Agreement, dated as of March 27, 2024, by and among Saratoga Investment Funding III, LLC, as borrower, Saratoga Investment Corp., as collateral manager and equityholder, the lenders from time to time party thereto, Live Oak Banking Company, as administrative agent and collateral agent, U.S. Bank National Association, as custodian, and U.S. Bank Trust Company, National Association, as collateral administrator 10.2 Equity Pledge Agreement, dated as of March 27, 2024, by and between Saratoga Investment Corp., as pledgor, and Live Oak Banking Company, as collateral agent for the benefit of the secured parties 10.3 Loan Sale and Contribution Agreement, dated as of March 27, 2024, by and between Saratoga Investment Corp., as seller, and Saratoga Investment Funding III LLC, as purchaser 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SARATOGA INVESTMENT CORP. Date: March 28, 2024 By: /s/ Henri J. Steenkamp Name: Henri J. Steenkamp Title: Chief Financial Officer, Chief Compliance Officer, Treasurer and Secretary 3

View Full Filing

View this 8-K filing on SEC EDGAR