Saratoga Investment Corp. Announces Postponement of Annual Meeting of Stockholders Until October 23, 2024
26 September 2024 - 4:10AM
Saratoga Investment Corp. (NYSE: SAR) (“Saratoga Investment,”
“Saratoga” or “the Company”) today announced that the Company
anticipates that it will not have a sufficient number of shares of
the Company's common stock present in person or represented by
proxy at the 2024 Annual Meeting of Stockholders (the "Annual
Meeting"), scheduled for Thursday, September 26, 2024 at 10:00 a.m.
Eastern Time, to constitute a quorum. The majority of the votes
received are in favor of the motion being proposed which is to
elect Christian L. Oberbeck as director of the Company, to serve
until the 2027 Annual Meeting. The Company has decided to postpone
the Annual Meeting to 10:00 a.m. Eastern Time on Wednesday, October
23, 2024 at the offices of Ropes and Gray, located at
1211 Avenue of The Americas, 38th Floor, New York, NY 10036.
The close of business on July 29, 2024 will
continue to be the record date for the determination of
stockholders of the Company entitled to vote at the Annual Meeting.
Stockholders of the Company who have previously submitted their
proxy or otherwise voted and who do not want to change their vote
do not need to take any action.
No changes have been made in the proposals to be
voted on by stockholders at the Annual Meeting. The Company
encourages all of its stockholders to read the Company’s definitive
proxy statement on Schedule 14A, filed with the Securities and
Exchange Commission (the “SEC”) on August 1, 2024 (the “Proxy
Statement”), which is available free of charge on the SEC’s website
at www.sec.gov, and on the Company’s website at
3fc2212d-02d6-476f-aebb-fdc690bcfd74
(saratogainvestmentcorp.com).
The Company will continue to solicit votes from
its stockholders with respect to the proposal set forth in the
Proxy Statement. The Company encourages all stockholders who have
not yet voted to do so before Tuesday, October 23, 2024 at 11:59
p.m., Eastern Time. Your vote is important regardless of how many
shares you own. Voting as soon as possible will help us save on the
costs associated with the Annual Meeting.
About Saratoga
Investment Corp.
Saratoga Investment is a specialty finance
company that provides customized financing solutions to U.S.
middle-market businesses. The Company invests primarily in senior
and unitranche leveraged loans and mezzanine debt, and, to a lesser
extent, equity to provide financing for change of ownership
transactions, strategic acquisitions, recapitalizations and growth
initiatives in partnership with business owners, management teams
and financial sponsors. Saratoga Investment’s objective is to
create attractive risk-adjusted returns by generating current
income and long-term capital appreciation from its debt and equity
investments. Saratoga Investment has elected to be regulated as a
business development company under the Investment Company Act of
1940 and is externally managed by Saratoga Investment Advisors,
LLC, an SEC-registered investment advisor focusing on credit-driven
strategies. Saratoga Investment Corp. owns two active
SBIC-licensed subsidiaries, having surrendered its first license
after repaying all debentures for that fund following the end of
its investment period and subsequent wind-down. Furthermore, it
manages a $650 million collateralized loan obligation
(“CLO”) fund and co-manages a joint venture (“JV”) fund that owns
a $400 million collateralized loan obligation (“JV CLO”)
fund. It also owns 52% of the Class F and 100% of the
subordinated notes of the CLO, 87.5% of both the unsecured loans
and membership interests of the JV and 87.5% of the Class E notes
of the JV CLO. The Company’s diverse funding sources, combined with
a permanent capital base, enable Saratoga Investment to provide a
broad range of financing solutions.
Contact:Henri SteenkampSaratoga Investment
Corp.212-906-7800
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