This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Saratoga Investment Corp. Effects One-for-Ten Reverse Stock Split

NEW YORK, Aug. 13 /PRNewswire-FirstCall/ -- Saratoga Investment Corp. (NYSE: SAR), a business development company, today announced that it effected a one-for-ten reverse stock split of its outstanding common stock.  Saratoga Investment Corp.'s shares of common stock are expected to trade on a post-split basis when the markets open today, will continue to trade on the New York Stock Exchange under the symbol SAR, and have been assigned a new CUSIP number – 80349A 208.

As a result of the reverse stock split, every ten shares of common stock were converted into one share of common stock.  No fractional shares of common stock of Saratoga Investment Corp. were issued upon the effectiveness of the reverse stock split.  Instead, each stockholder otherwise entitled to a fractional share is entitled to receive in lieu thereof cash in an amount equal to the product of such fractional shares multiplied by the closing price of Saratoga Investment Corp.'s common stock as reported by the New York Stock Exchange on August 12, 2010.  Stockholders will be receiving information from American Stock Transfer & Trust Company, LLC, Saratoga Investment Corp.'s transfer agent, regarding the mechanics of exchanging their share certificates and receiving cash in lieu of fractional shares.

Immediately after the reverse stock split, Saratoga Investment Corp. had 100,000,000 shares of common stock, par value $0.001 per share, authorized, approximately 2,680,853 shares of common stock, par value $0.001 per share, outstanding, and approximately 7,319,417 shares of common stock, par value $0.001 per share, authorized but unissued.  

About Saratoga Investment Corp.

Saratoga Investment Corp. is a specialty finance company that invests primarily in leveraged loans and mezzanine debt issued by U.S. middle-market companies, both through direct lending and through participation in loan syndicates.  It has elected to be treated as a business development company under the Investment Company Act of 1940.  

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
SAR $16.39 0.00%
AAPL $124.75 0.00%
FB $80.78 0.00%
GOOG $524.05 0.00%
TSLA $206.79 0.00%

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs