| Cash Flow | 2026-05-31 | 2026-02-28 |
|---|---|---|
| Net increase (decrease) in net assets resulting from operations | -6,903,113 | 36,604,298 |
| Distributions from clo, payment-in-kind and other adjustments to cost | -677,848 | -2,584,775 |
| Net accretion of discount on investments | 813,693 | 3,097,921 |
| Amortization of deferred debt financing costs | 1,297,110 | 4,802,167 |
| Realized losses on extinguishment of debt | NaN | -824,010 |
| Income tax expense (benefit) | -20,709 | -196,309 |
| Net realized (gain) loss from investments | 150,207 | 5,746,490 |
| Net change in unrealized (appreciation) depreciation on investments | -15,177,131 | -5,238,480 |
| Net change in provision for deferred taxes on unrealized (appreciation) depreciation on investments | -530,824 | -113,498 |
| Proceeds from sales and repayments of investments | 48,415,037 | 184,636,335 |
| Purchases of investments | 79,150,550 | 309,501,690 |
| Interest receivable | 1,734,807 | -163,415 |
| Management fee receivable | -16,883 | -64,473 |
| Other assets | 217,960 | -168,756 |
| Base management and incentive fees payable | 259,294 | 371,875 |
| Accounts payable and accrued expenses | -437,806 | 95,580 |
| Interest and debt fees payable | -498,291 | -5,374 |
| Directors fees payable | -5,500 | 5,500 |
| Due to manager | 9,958 | 241,435 |
| Net cash provided by (used in) operating activities | -25,965,895 | -88,029,733 |
| Borrowings on debt | 53,000,000 | 87,000,000 |
| Paydowns on debt | NaN | 79,500,000 |
| Issuance of notes | 24,500,000 | 149,558,500 |
| Repayments of notes | NaN | 212,000,000 |
| Payments of deferred debt financing costs | 1,713,358 | 6,852,926 |
| Proceeds from issuance of common stock | NaN | 18,752,929 |
| Capital contribution from manager | NaN | 569,322 |
| Payments of cash dividends | 10,797,683 | 52,356,092 |
| Repurchases of common stock | NaN | 54,314 |
| Payments of offering costs | NaN | 25,857 |
| Net cash provided by (used in) financing activities | 64,988,959 | -94,908,438 |
| Net increase (decrease) in cash and cash equivalents and cash and cash equivalents, reserve accounts | 39,023,064 | -182,938,171 |
| Cash and cash equivalents and cash and cash equivalents, reserve accounts, beginning of period | 21,785,753 | 204,723,924 |
| Cash and cash equivalents and cash and cash equivalents, reserve accounts, end of period (see note 2) | 60,808,817 | 21,785,753 |
SARATOGA INVESTMENT CORP. (SAV)
SARATOGA INVESTMENT CORP. (SAV)