Saratoga Investment Corp. Shares Update on Annual Meeting Plans
Update on Saratoga Investment Corp.'s Annual Meeting
Encouragement for Stockholder Participation
NEW YORK, NY, Sept. 25, 2024 -- Saratoga Investment Corp. (NYSE: SAR) has announced that it anticipates insufficient shares of its common stock will be present at the upcoming Annual Meeting of Stockholders scheduled for September 26, 2024. This implies that the meeting would be unable to achieve a quorum. Most votes received thus far support the motion to elect Christian L. Oberbeck as a director until the 2027 Annual Meeting. Consequently, the decision has been made to postpone the meeting to October 23, 2024, at 10:00 a.m. Eastern Time.
Stockholders need to be aware that the record date remains set as July 29, 2024. Those who have already voted and do not wish to alter their decisions need not take further action.
Importantly, there have been no alterations to the proposals that will be presented at the Annual Meeting. Stockholders are encouraged to review the definitive proxy statement filed with the Securities and Exchange Commission on August 1, 2024, which is accessible free of charge through the SEC's website.
Key Details Regarding the Meeting
The Company is actively soliciting votes on the proposal outlined in the Proxy Statement. Stockholders are encouraged to cast their votes prior to October 23, 2024, at 11:59 p.m. ET. Regardless of stock ownership size, each vote plays a crucial role, and early voting may help reduce the costs associated with the Annual Meeting.
Understanding Saratoga Investment Corp.
Saratoga Investment is recognized as a specialty finance company dedicated to providing tailored financing solutions to middle-market businesses across the U.S. This Company primarily invests in senior and unitranche leveraged loans, mezzanine debt, and, to a lesser extent, equity. These investments are structured to support significant transactions such as ownership changes, strategic acquisitions, and growth initiatives, all in collaboration with business owners, management teams, and financial entities.
Financial Strategies and Objectives
With a keen objective to generate attractive risk-adjusted returns, Saratoga aims to create long-term capital appreciation through its diverse portfolio of debt and equity investments. The Company operates under the Investment Company Act of 1940, highlighting its commitment to robust financial regulations. Moreover, Saratoga Investment Advisors, LLC, an SEC-registered investment advisor, oversees its operations, focusing specifically on credit-driven strategies.
Diverse Funding Sources and Active Management
Saratoga Investment maintains two active SBIC-licensed subsidiaries and has strategically repaid all debentures from its first fund. The Company also oversees a substantial $650 million collateralized loan obligation (CLO) fund, alongside a joint venture that controls a $400 million CLO fund. With majority ownership stakes in key financial instruments, Saratoga Investment exemplifies the strength of its diversified funding sources and permanent capital base.
In conclusion, the leadership at Saratoga Investment encourages stockholder engagement and participation in these critical financial discussions. The postponement of the Annual Meeting represents an opportunity for increased participation and ensures that the voices of all stockholders are heard.
Frequently Asked Questions
1. Why was the Annual Meeting postponed?
The Annual Meeting was postponed due to an anticipated lack of quorum as not enough shares were expected to be present or represented.
2. What is the new date for the Annual Meeting?
The Annual Meeting has been rescheduled for October 23, 2024, at 10:00 a.m. Eastern Time.
3. How can stockholders vote before the revised meeting date?
Stockholders can cast their votes by following the instructions provided in the Proxy Statement prior to October 23, 2024, at 11:59 p.m. ET.
4. What are the primary investments of Saratoga Investment Corp.?
Saratoga primarily invests in senior and unitranche leveraged loans and mezzanine debt, providing capital for ownership transactions and growth.
5. Who oversees the operations of Saratoga Investment?
Saratoga Investment is externally managed by Saratoga Investment Advisors, LLC, which specializes in credit-driven strategies.
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