Saratoga Investment Corporation’s $37.5M Public Offering of Notes

Blank Rome advised Ladenburg Thalmann & Co as representative of the underwriters.

Saratoga Investment Corporation priced an offering of $37.5 million of 7.25% unsecured notes due June 30, 2025 to Ladenburg Thalmann & Co.

Saratoga Investment Corp. is a specialty finance company that provides customized financing solutions to U.S. middle-market businesses.

Saratoga Investment has granted the underwriters an option to buy up to an additional $5.6 million in aggregate principal amount of notes. The company expects to use the net proceeds for general corporate purposes and to make investments in middle-market companies.

The notes are expected to be listed on the NYSE and to trade thereon within 30 days of the original issue date under the symbol SAC.

Ladenburg Thalmann & Co. Inc., Janney Montgomery Scott LLC, BB&T Capital Markets, B. Riley FBR Inc. and Compass Point Research & Trading LLC are acting as joint book-running managers. Incapital LLC, National Securities Corp. and Maxim Group LLC are serving as lead managers for the offering.

The Blank Rome team included Brad L. Shiffman (Picture), Thomas A. Cournoyer, Andrae A. D. Nelson, Emanuel J. Adler, Joseph T. Gulant, David A. Gilbert.

Involved fees earner: Emanuel Adler – Blank Rome LLP; Thomas Cournoyer – Blank Rome LLP; David Gilbert – Blank Rome LLP; Joseph Gulant – Blank Rome LLP; Brad Shiffman – Blank Rome LLP;

Law Firms: Blank Rome LLP;

Clients: Ladenburg Thalmann & Co.;

Author: Ambrogio Visconti