SARATOGA INVESTMENT CORP. — Form 8-K
Filed October 6, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 38/100
What the filing says
Saratoga Investment Corp reported fiscal Q2 2027 (ended August 31, 2026) with AUM of $1.150 billion (+2.1% QoQ), driven by $76.1M originations and $37.1M net originations. NAV per share declined to $22.15 from $23.23 (-4.6%), with $25.9M total NAV decrease attributed to $14.4M portfolio markdowns (mainly Madison Logic, Exigo, Chronus) offset partially by $0.09/share accretion from 444,124 share repurchases at avg $18.91. Company issued $85M in 8.00% 2031 notes (expanded to $120.8M post-quarter) to refinance $105.5M 6.00% 2027 notes. Adjusted NII $0.46/share maintained dividend at $0.75/quarter; LTM ROE declined to -1.1% from 9.1% YoY.
Why this rating
NAV erosion and deteriorating returns material for BDC; refinancing necessary but dilutive. Portfolio stress limited to specific credits, not systemic; AUM growth and dividend maintenance provide offset.
See more from October 6, 2026.
EDGAR·FLOW summarizes public SEC EDGAR filings with automated analysis. Materiality scores and stock-impact predictions are algorithmically generated and are not investment advice. Always verify against the source filing on SEC.gov.