Saratoga Investment Corp. (NYSE: SAR) announced the commencement of a registered public offering of unsecured notes, along with a "BBB" investment grade rating from Egan-Jones Ratings Company, according to a press release.

The notes are expected to be listed on the New York Stock Exchange under the ticker symbol "SAX" within 30 days of the original issue date.

Egan-Jones is a Nationally Recognized Statistical Rating Organization (NRSRO), recognized by the National Association of Insurance Commissioners as a Credit Rating Provider, and certified by the European Securities and Markets Authority.

Lucid Capital Markets and Oppenheimer & Co. are serving as joint book-running managers for the offering. B. Riley Securities, Clear Street, Compass Point Research & Trading, Ladenburg Thalmann & Co., and Maxim Group are lead managers. InspereX and William Blair & Company are co-managers.

The company said it expects to use net proceeds from the offering to redeem its outstanding 6.00% Notes due 2027, redeem its outstanding 8.00% Notes due 2027, and/or repay a portion of outstanding indebtedness under a special purpose vehicle financing credit facility with Valley National Bank.

A registration statement relating to the notes was filed and declared effective by the Securities and Exchange Commission. The preliminary prospectus supplement is dated August 18, 2026, and the accompanying prospectus is dated March 11, 2026.

Saratoga Investment Corp. is a business development company that provides financing to U.S. middle-market businesses, investing primarily in senior and unitranche leveraged loans and mezzanine debt.