Key Developments: Saratoga Investment Corp (SAR)
18.39USD
17 May 2013
$-0.04 (-0.23%)
$18.43
$18.24
$18.45
$18.24
1,252
3,493
$21.04
$14.74
Latest Key Developments (Source: Significant Developments)
Saratoga Investment Corp Closes An Additional $6.3 Million Of 7.50% Notes Due 2020 Pursuant To The Full Exercise Of The Underwriters' Option To Purchase Additional Notes
Saratoga Investment Corp announced that it has closed an underwritten public offering of $6.3 million in aggregate principal amount of 7.50% fixed-rate notes due 2020 pursuant to the full exercise of the underwriters' option to purchase additional notes. The notes will mature on May 31, 2020 and may be redeemed in whole or in part at any time or from time to time at the Company's option on or after May 31, 2016. Interest will be payable quarterly beginning August 15, 2013. The Company intends to use the net proceeds from the offering to repay a portion of the outstanding indebtedness under its senior secured revolving credit facility and to fund new investment opportunities. The notes are listed on the New York Stock Exchange under the trading symbol "SAQ". Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc., BB&T Capital Markets, a division of BB&T Securities, LLC and William Blair and Company, LLC acted as joint book-running managers. Maxim Group LLC and National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc., acted as lead managers. C&Co/PrinceRidge LLC, Dominick & Dominick LLC and Gilford Securities Incorporated acted as co-managers. Investors are advised to consider carefully the investment objective, risks and charges and expenses of the Company before investing. Full Article
Saratoga Investment Corp Announces Offering of Notes Due 2020
Saratoga Investment Corp announced the commencement of a registered public offering of Notes due 2020 (the Notes). The Notes are expected to be listed on the New York Stock Exchange and to trade thereon within 30 days of the original issue date under the trading symbol SAQ. Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc., BB&T Capital Markets and William Blair are acting as joint book-running managers. Maxim Group LLC and National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc. are acting as lead managers. C&Co/PrinceRidge LLC, Dominick & Dominick LLC and Gilford Securities Incorporated are acting as co-managers. Full Article
Saratoga Investment Corp Promotes Michael J. Grisius To President
Saratoga Investment Corp announced that the promotion of Michael J. Grisius to President. Grisius, who has more than 23 years of experience in leveraged finance and private equity, will continue his previous responsibilities as the Chief Investment Officer and a Managing Director of Saratoga Investment Advisors, LLC, the Company's investment adviser, as well as a Director of the Company. Full Article
Saratoga Investment Corp Declares $4.25 Dividend Per Share
Saratoga Investment Corp announced that its Board of Directors has declared a dividend of $4.25 per share payable on December 31, 2012 to common shareholders of record on November 20, 2012. Full Article
Saratoga Investment Corp Declares $4.25 Dividend Per Share
Saratoga Investment Corp announced that its Board of Directors has declared a dividend of $4.25 per share payable on December 31, 2012, to common shareholders of record on November 20, 2012. Full Article
GSC Investment Corp. Announces Form Of Declared Dividend
GSC Investment Corp. announced the form in which the dividend declared by the Company's board of directors on November 15, 2011, will be paid and the results of its shareholders' elections relating to the dividend. The dividend of $3.00 per share is payable on December 30, 2011, to shareholders of record as of November 25, 2011. Shareholders had until December 22, 2011, to elect whether to receive the dividend in cash (up to an aggregate maximum cash amount of approximately $2.0 million, or approximately 20% of the total dividend paid) or in shares of common stock. Due to the original terms of the dividend, shareholders who elected to receive cash will receive a combination of cash and common stock. The dividend will consist of approximately $2.0 million in cash and 600,000 shares of common stock, or approximately 18.3% of the Company's outstanding shares prior to the dividend. The amount of cash elected to be received was greater than the cash limit of 20% of the aggregate dividend amount, therefore resulting in the payment of a combination of cash and stock to shareholders who elected to receive cash. The number of shares of common stock comprising the stock portion was calculated based on a price of $13.12 per share, which equaled the average of the volume weighted average trading price per share of the Company's common stock on December 20, 21 and 22, 2011. Full Article
GSC Investment Corp. Does Not Declare Dividend
GSC Investment Corp. announced that given the size of Saratoga Investment's asset base and its growing pipeline of attractive investments, the Company's Board of Directors believes that using capital resources to build and diversify the portfolio serves stockholders' interests by positioning the Company to generate current income and capital appreciation on an increasing scale in future periods. Therefore, the Company's Board of Directors has determined not to pay any dividends at this time. Full Article
GSC Investment Corp. Does Not Declare Dividend
GSC Investment Corp. announced that the Board of Directors has determined not to pay any dividends at this time. Full Article
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