Tag: GlobeNewswire

• Strategic Milestone: Official opening of the Robotics Training, Data and Experience Center in Singapore to support humanoid training, workflow testing, and customer demonstrations.
• Tapping a US$68.1 Billion Market: Capitalizing on the global service robotics market—estimated at US$68.1 billion in 2026 and projected to reach US$107.8 billion by 2030—alongside the US$5.41 billion humanoid robot sector.
• Commercial Pathway: Designed to evaluate Robotics-as-a-Service (“RaaS”), robot leasing, and managed services as potential recurring revenue streams supporting the Company’s 2030 vision.

SINGAPORE, Oct. 06, 2026 (GLOBE NEWSWIRE) — YYForce Inc. (NASDAQ: YFOR) (“YYForce” or the “Company”), a technology-enabled workforce solutions and integrated facility management company, today announced the official opening of its Robotics Training, Data and Experience Center (the “Center”) in Singapore. The facility supports humanoid robot training, operational data collection, workflow testing, and customer demonstrations across hospitality, cleaning, security, delivery, and facility management applications.

The Center is designed to help YYForce translate robotics technologies into practical customer solutions, drawing on its existing workforce and facility management operations. It also supports the Company’s evaluation of Robotics-as-a-Service (“RaaS”), robot leasing, and managed robotic services as potential sources of recurring revenue.

Capitalizing on the US$68.1 Billion Commercial Robotics Opportunity

YYForce believes Singapore offers an attractive environment for robotics adoption as service operators seek to improve productivity, manage manpower constraints, and maintain consistent service quality. In May 2026, the Infocomm Media Development Authority (IMDA), JTC Corporation (JTC), and the Singapore Institute of Technology (SIT) announced a physical AI testbed at Punggol Digital District, planned for later in 2026, with applications including delivery, cleaning, and security patrolling. This initiative provides wider market context; YYForce is not announcing participation in that programme.

Globally, Grand View Research estimates the service robotics market at US$68.1 billion in 2026 and projects it to reach US$107.8 billion by 2030. Separately, MarketsandMarkets estimates the global humanoid robot market at US$5.41 billion in 2026 and projects US$50.27 billion by 2035. These forecasts cover different, potentially overlapping categories and are not additive. They provide industry context, rather than estimates of Singapore demand or YYForce’s addressable revenue.

For the 2026–2031 period, YYForce sees opportunities to evaluate specialized service robots for defined commercial tasks while developing humanoid applications through training and testing. The Company intends to assess deployment opportunities based on task performance, safety, reliability, required human supervision, and customer economics.

Humanoid Training and Operational Data Collection

The Center includes simulated service environments for training and evaluating humanoid robots in selected hotel housekeeping, restroom cleaning, banqueting, and hospitality support workflows. It also supports testing of collaboration among human workers, humanoid robots, and specialized service robots.

Through repeated training and testing, YYForce is collecting operational data relating to navigation, movement, object interaction, task execution, and environmental conditions. Though training and demonstration activities do not establish that humanoid robots can yet perform complete housekeeping or restroom-cleaning duties autonomously, these activities are intended to help evaluate performance and adapt workflows to specific service environments.

Service Robotics and Integrated Security Demonstrations

The Center showcases indoor and outdoor commercial cleaning robots, food and item delivery robots, autonomous security and surveillance robots, swimming pool cleaning robots, humanoid service robots, and other specialized systems. Customers and potential partners can evaluate how these technologies may fit within their operations.

A live Security Command Center, as part of the Center, demonstrates the integration of robotic patrol capabilities, surveillance systems, sensors, cameras, and centralized monitoring. This environment enables YYForce to evaluate how robotic and monitoring technologies can complement security personnel and broader facility management services.

Building a Path to Recurring Robotics Revenue

The Center anticipates to support a structured commercialization pathway: training and data collection, workflow testing, customer demonstrations, proofs of concept, and, where viable, commercial deployment. Potential applications include hotels, commercial buildings, residential developments, retail premises, warehouses, and other service environments.

YYForce is evaluating commercial arrangements that could combine robot access with deployment support, maintenance, monitoring, and human service capabilities. Potential RaaS and leasing models would allow customers to access robotics through recurring arrangements without necessarily purchasing hardware outright. Integrated service contracts could combine people and robots within a single service-delivery model.

The Company believes its existing operating experience can help identify suitable tasks, evaluate customer requirements, and coordinate human-robot workflows. Commercial viability will depend on productivity gains, service quality, deployment and integration costs, maintenance requirements, and the level of human intervention needed.

At this stage, the Company has not yet announced material revenue attributable to these proposed robotics business models. The Center’s opening does not represent an announcement of material robotics orders or contracted recurring revenue. Future commercialization remains subject to customer adoption, technology performance, deployment economics, and other factors.

Supporting the YYForce 2030 Vision

The Center anticipates to support YYForce’s 2030 vision of becoming a Future Workforce Solutions Provider by integrating human talent, AI-enabled technologies, humanoid robots, and specialized autonomous robots. Human workers would continue to perform activities requiring judgment, communication, and flexibility, while suitable robotic systems could support repetitive, physically demanding, and monitoring-intensive tasks.

Chief Executive Officer Commentary

Mike Fu, Chief Executive Officer of YYForce, commented:

“Our objective is to help customers put robotics to work in everyday service operations. Our existing workforce and facility management experience gives us direct insight into the tasks customers need completed and the standards they expect.”

“This center provides a dedicated working environment to train humanoid robots, collect operational data, and evaluate service robots prior to customer deployment. We see clear opportunities to develop recurring service relationships through leasing and managed robotics, while rigorously testing each application against performance and cost requirements.”

“Our 2030 vision brings people, AI, and robotics together to elevate how services are delivered. We will pursue that vision through practical applications and disciplined commercial execution — Forging Forward Together.”

About YYForce Inc.

YYForce Inc. (NASDAQ: YFOR) is a technology-enabled workforce solutions and integrated facility management company focused on how businesses access, manage, and deploy workforce and facility services. The Company is developing an ecosystem combining on-demand workforce technology, integrated facility management, artificial intelligence, automation, humanoid robotics, and specialized service robots to support productivity, operational flexibility, and scalability.

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding the Company’s robotics strategy, training and data collection activities, potential customer applications, RaaS and leasing models, managed services, recurring revenue opportunities, and YYForce’s 2030 vision, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company bases these forward-looking statements on its expectations and projections about future events, which the Company derives from the information currently available to it. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. . Third-party market forecasts are estimates and may not be realized.

Forward-looking statements involve inherent risks and uncertainties, and the forward-looking events discussed in this press release may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about the Company and a number of factors. These factors include, but are not limited to, customer adoption, technology reliability and safety, integration requirements, data governance, financing and hardware availability, maintenance costs, and deployment economics. There can be no assurance that the Company’s robotics initiatives or proposed commercial models will be successfully implemented or generate material revenue. For a more detailed discussion of risk factors, please refer to the Company’s filings with the Securities and Exchange Commission, including the “Risk Factors” section of the Company’s most recent annual report on Form 20-F, as amended. Readers should also consider the risks described in the Company’s filings with the U.S. Securities and Exchange Commission. YYForce undertakes no obligation to update these statements except as required by applicable law.

Investor Contact
Jason Zhi Yong Phua, Chief Financial Officer
YYForce Inc.
enquiries@yyforce.ai

Investor Relations Contact
Piacente Financial Communications
yfor@thepiacentegroup.com

Market Sources
[1] JTC, Singapore Government and Eight Industry Leaders to Research, Test and Deploy Physical AI in Punggol Digital District, May 20, 2026.
[2] Grand View Research, Service Robotics Market 2024–2030, public report summary accessed October 2, 2026.
[3] MarketsandMarkets, Humanoid Robot Market — Global Forecast to 2035, July 2026.

HOUSTON, Oct. 06, 2026 (GLOBE NEWSWIRE) — Sysco Corporation (NYSE:SYY) (“Sysco” or the “Company”) today announced that Sysco and Sysco Holdings Corporation, a Delaware corporation and wholly-owned subsidiary of Sysco (“Sysco Holdings” and, together with Sysco, the “Issuers”), have closed public offerings (collectively, the “Offerings”) of $14.65 billion in aggregate principal amount of notes and €1.0 billion in aggregate principal amount of notes consisting of the following securities:

• $1.75 billion in aggregate principal amount of 5.450% Senior Notes due 2029;
• $2.0 billion in aggregate principal amount of 5.600% Senior Notes due 2031;
• $1.5 billion in aggregate principal amount of 5.800% Senior Notes due 2033;
• $2.0 billion in aggregate principal amount of 5.950% Senior Notes due 2036;
• $1.0 billion in aggregate principal amount of 6.400% Senior Notes due 2046;
• $1.75 billion in aggregate principal amount of 6.500% Senior Notes due 2056;
• $750 million in aggregate principal amount of 6.600% Senior Notes due 2066 (collectively, the “Senior Notes”);
• $1.5 billion in aggregate principal amount of 7.100% Series A Junior Subordinated Notes due 2056;
• $1.0 billion in aggregate principal amount of 7.250% Series B Junior Subordinated Notes due 2056;
• $1.4 billion in aggregate principal amount of 7.350% Series C Junior Subordinated Notes due 2056 (collectively, the “USD Junior Subordinated Notes”); and
• €1.0 billion in aggregate principal amount of 6.000% Junior Subordinated Notes due 2056 (the “Euro Junior Subordinated Notes” and, together with the Senior Notes and the USD Junior Subordinated Notes, the “Notes”).

The Issuers estimate that they will receive approximately $10.64 billion from the offering of the Senior Notes, approximately $3.8 billion from the offering of the USD Junior Subordinated Notes and approximately €0.99 billion from the offering of the Euro Junior Subordinated Notes, in each case after deducting underwriting discounts and estimated offering expenses payable by them. The Issuers intend to use the net proceeds from the Offerings to pay a portion of the cash consideration for the pending acquisition of Jetro Restaurant Depot, and all other fees, costs and expenses related thereto or, if the acquisition is not consummated, to pay for the special mandatory redemption of the Notes (other than the 5.950% Senior Notes due 2036) pursuant to their terms.

The Offerings were made by means of applicable prospectus supplements under the Issuers’ shelf registration statement on Form S-3ASR, as filed with the Securities and Exchange Commission (the “SEC”).

Goldman Sachs & Co. LLC, TD Securities (USA) LLC, BofA Securities, Inc., J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, BNP Paribas Securities Corp., PNC Capital Markets LLC, Truist Securities, Inc. and U.S. Bancorp Investments, Inc. acted as joint book-running managers for the offerings of the Senior Notes and the USD Junior Subordinated Notes. Goldman Sachs & Co. LLC, TD Global Finance unlimited company, Merrill Lynch International, J.P. Morgan Securities plc, Wells Fargo Securities International Limited, PNC Capital Markets LLC and U.S. Bancorp Investments, Inc. acted as joint book-running managers for the offering of the Euro Junior Subordinated Notes.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the Notes, nor does it constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale is unlawful. The Offerings were made in the U.S. only by means of prospectus supplements relating to the Offerings and the accompanying prospectus.

Copies of the final prospectus supplements for the Offerings and the accompanying prospectus may be obtained free of charge by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the final prospectus supplements for the Senior Notes and USD Junior Subordinated Notes may be obtained by calling Goldman Sachs & Co. LLC toll free at 1-866-471-2526, TD Securities (USA) LLC toll free at 1-855-495-9846, BofA Securities, Inc. toll free at 1-800-294-1322, J.P. Morgan Securities LLC collect at 212-834-4533 or Wells Fargo Securities, LLC toll free at 1-800-645-3751 (option #5); copies of the final prospectus supplement for the Euro Junior Subordinated Notes may be obtained by calling Goldman Sachs & Co. LLC toll free at 1-866-471-2526, TD Global Finance unlimited company at +44 20 7628-2262, J.P. Morgan Securities plc (for non-U.S. investors) at +44-20 7134-2468, Merrill Lynch International, toll-free at 1-800-294-1322 or J.P. Morgan Securities LLC (for U.S. investors) at +1-212 834-4533.

About Sysco

Sysco is the global leader in selling, marketing and distributing food and related products to customers who prepare meals away from home. This includes restaurants, healthcare and educational facilities, lodging establishments, entertainment venues, and more. Sysco operates 333 distribution centers, in 10 countries, with 75,000 colleagues serving approximately 670,000 customer locations. The company generated sales of more than $84 billion in fiscal year 2026 that ended June 27, 2026.

As the world’s largest food-away-from-home distributor, Sysco offers customized supply chain solutions, bespoke specialty product offerings, and culinary support to drive customers to innovate and optimize their operations. We act as a trusted business partner to our customers, helping them grow through our industry-leading portfolio that includes fresh produce, premium proteins, specialty products, sustainably focused items, equipment and supplies, and innovative culinary solutions.

SYY-INVESTORS

Forward-Looking Statements

Statements made in this press release include statements that are forward-looking or that express management’s beliefs, expectations or hopes and are forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements include, among other things, statements regarding the terms, timing and completion of the Offerings and our anticipated use of the proceeds thereof, statements about our future financial performance and results, business strategy, plans, goals and objectives, and other statements that are not historical facts, including expectations regarding our future growth, including growth in sales and earnings per share, expectations regarding cost savings associated with AI, as well as statements about the expected timing and completion of the proposed transaction with Jetro Restaurant Depot and the anticipated benefits of such proposed transaction.

Such forward-looking statements reflect the views of management at the time such statements are made and are subject to a number of risks, uncertainties, estimates, and assumptions, including those outside of Sysco’s control. Risks and uncertainties include without limitation: the impact of geopolitical, economic and market conditions and developments, including changes in global trade policies and tariffs and foreign conflicts; risks related to our business initiatives; periods of significant or prolonged inflation or deflation and their impact on our product costs, volume, foot traffic, and profitability generally; risks related to our efforts to implement our transformation initiatives and meet our other long-term strategic objectives; risks of interruption of supplies and increase in product costs; risks related to changes in consumer eating habits; and impact of natural disasters or adverse weather conditions, public health crises, adverse publicity or lack of confidence in our products, and product liability claims as well as risks and uncertainties associated with our proposed transaction with Jetro Restaurant Depot, including but not limited to, the occurrence of any event, change or other circumstances that could give rise to the right of either or both parties to terminate the merger agreement; the risk that regulatory approvals may not be obtained or other closing conditions may not be satisfied in a timely manner or at all, as well as the risk that regulatory approvals are obtained subject to conditions that are not anticipated; the risk of other delays in closing the transaction; the possibility that any of the anticipated benefits and projected synergies of the transaction will not be realized or will not be realized within the expected time period; and the risk that the proposed transaction and its announcement could have an adverse effect on the market price of the common stock of Sysco. Should one or more of these risks or uncertainties materialize, or underlying assumptions prove incorrect, actual results may vary materially from those indicated in our forward-looking statements. Therefore, you should not place undue reliance on any of the forward-looking statements contained herein. For more information on these risks and other concerning factors that could cause actual results to differ from those expressed or forecasted, see our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the SEC. We do not undertake to update our forward-looking statements, except as required by applicable law.

For more information contact:
Kevin Kim	Cassandra Mauel
Investor Contact	Media Contact
kevin.kim@sysco.com	cassandra.mauel@sysco.com
T 281-584-1219	T 281-584-1390

DURANGO, Colo., Oct. 06, 2026 (GLOBE NEWSWIRE) — Rocky Mountain Chocolate Factory, Inc. (Nasdaq: RMCF) (the “Company” or “RMCF”), America’s Chocolatier^® since 1981, today announced it has signed a $6.6 million sale-leaseback agreement with American Heritage Legacies, LLC, involving its Durango, Colorado property. American Heritage Legacies, LLC, is a local company controlled by the family of Allen Harper, the Company’s Interim Chief Executive Officer. As such, the sale-leaseback transaction constitutes a “related party transaction” for the Company.

The Company expects to use the net proceeds from the transaction to repay its existing $6.6 million promissory note, which accrues interest at a rate of 12% per annum. The lease has an initial term of 10 years, with an option to renew for an additional 10 years. Annual rent will be $624,000 during the first year, representing 9.45% of the $6.6 million purchase price, and will increase by 2% annually. The lease will allow the Company to continue using the Durango facility as its corporate headquarters and production and warehouse facility.

“We are focused on making thoughtful financial decisions that strengthen Rocky Mountain Chocolate Factory and create a more sustainable foundation for the business,” said Mel Keating, Chairman of the Board of Directors of Rocky Mountain Chocolate Factory. “This transaction allows us to significantly reduce our existing debt while securing our continued operations at the Durango facility under a long-term lease.”

The transaction was reviewed and approved by the Company’s Audit Committee and the disinterested members of the Board of Directors, with Mr. Harper recusing himself from the review process. The purchase price was supported by an independent appraisal of the property.

About Rocky Mountain Chocolate Factory, Inc.
Rocky Mountain Chocolate Factory, Inc. is a leading franchisor, manufacturer and retailer of premium chocolates and other confectionery products. As America’s Chocolatier^® since 1981, the Company produces an extensive assortment of premium chocolates, gourmet caramel apples and other handcrafted confections. Headquartered in Durango, Colorado, Rocky Mountain Chocolate Factory is ranked among Entrepreneur’s Franchise 500^® for 2026. Together with its franchisees and licensees, the Company operates approximately 250 Rocky Mountain Chocolate Factory locations across the United States and internationally. The Company’s common stock is listed on the Nasdaq Global Market under the symbol “RMCF.”

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s anticipated use of proceeds and repayment of the promissory note, expected benefits of the transaction, anticipated interest expense savings, financial position, operating performance, strategic priorities and future growth. These forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. These risks and uncertainties include, among others, the Company’s financial condition and operating results, and other risks described in the Company’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. The Company undertakes no obligation to update any forward-looking statements except as required by applicable law.

Investor Contact
Sean Mansouri, CFA
Elevate IR
(720) 330-2829
RMCF@elevate-ir.com

Media Contact
Raymond Barrett
Director of Marketing
(305) 801-5641
rbarrett@rmcf.net

LIBERTY LAKE, Wash., Oct. 06, 2026 (GLOBE NEWSWIRE) — Itron, Inc. (NASDAQ: ITRI), which is innovating new ways for utilities and cities to manage energy and water, announced today that it will release financial results for the quarter ended Sept. 30, 2026 on Tuesday, Oct. 27, 2026 at 8:30 a.m. EDT. Itron management will host a conference call at 10:00 a.m. EDT to discuss the results.

Interested parties may listen to the conference call on a live webcast. The webcast, along with a supplemental presentation, may be accessed from the company’s website at Itron Investor Events & Presentations. Participants should access the webcast 10 minutes prior to the start of the call to install and test any necessary audio software. Participants can also pre-register for the webcast at any time using the link above.

A webcast replay of the conference call may be accessed on the company’s website at Itron Investor Events & Presentations.

About Itron

Itron is transforming how the world manages energy, water and city services. Our trusted intelligent infrastructure solutions help utilities and cities improve efficiency, build resilience and deliver safe, reliable and affordable service. With edge intelligence, we connect people, data insights and devices so communities can better manage the essential resources they rely on to live and thrive. Join us as we create a more resourceful world: www.itron.com.

Itron® and the Itron Logo are registered trademarks of Itron, Inc. in the United States and other countries and regions. All third-party trademarks are property of their respective owners, and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.

For additional information, contact:

Itron, Inc.

Paul Vincent
Vice President, Investor Relations
512-560-1172

Stephanie Tarlton, CFA
Principal, Investor Relations
(512) 676-8365
investors@itron.com

Itron, Inc.

• LinkedIn: www.linkedin.com/company/itroninc
• X: https://x.com/ItronInc
• Newsroom: https://www.itron.com/newsroom
• Blog: https://blogs.itron.com

— Company to evaluate strategic alternatives to maximize stockholder value —

— Caribou plans to discontinue vispa-cel and CB-011 allogeneic CAR-T cell therapy programs —

— Cash, cash equivalents, and marketable securities of $113.8 million as of June 30, 2026 —

BERKELEY, Calif., Oct. 06, 2026 (GLOBE NEWSWIRE) — Caribou Biosciences, Inc. (Nasdaq: CRBU), a leading clinical-stage CRISPR genome-editing biopharmaceutical company, today announced that it is exploring strategic alternatives to maximize stockholder value and plans to discontinue further development activities for its two allogeneic CAR-T cell therapy programs, vispa-cel for the treatment of relapsed or refractory (r/r) B cell non-Hodgkin lymphoma and CB-011 for the treatment of r/r multiple myeloma. In line with this decision, Caribou will implement workforce and cost reductions.

“This is an extraordinarily difficult decision, particularly because it is in no way a reflection of our belief that vispa-cel and CB-011 have the potential to benefit patients. Vispa-cel is pivotal trial-ready, with FDA alignment already reached on the phase 3 clinical trial design. We believe both programs have demonstrated the potential for allogeneic CAR-T cell therapies to deliver deep and durable responses, while meaningfully expanding access for patients who urgently need treatment options,” said Rachel Haurwitz, PhD, president and CEO of Caribou. “Unfortunately, despite the progress we’ve made, the current financing environment for allogeneic CAR-T cell therapies has made it increasingly challenging to secure the capital necessary to responsibly advance these programs. As a result, we’ve made the difficult decision to evaluate strategic alternatives and plan to discontinue further development of our allogeneic CAR-T cell therapy programs. We’re deeply grateful to the patients and families who placed their trust in us, the physicians and site teams who partnered with us, and every member of the Caribou team whose skill and commitment brought these programs this far and advanced the field of cell therapy.”

Caribou’s Board of Directors approved initiating a process to evaluate strategic alternatives, including, but not limited to, a merger, acquisition, business combination, or other strategic transactions involving Caribou and/or its assets. Wedbush Securities Inc. has been engaged as the company’s exclusive financial advisor to assist in the strategic evaluation process. Caribou has not set a timeline for the completion of review of strategic alternatives and does not intend to provide further updates unless and until the Board of Directors has approved a course of action, the review process is concluded, or other disclosure is otherwise determined to be appropriate. In conjunction with this announcement, Caribou plans to discontinue further clinical development activities and implement a substantial reduction in workforce, which is expected to be mostly complete in the fourth quarter of 2026.

As of June 30, 2026, Caribou had $113.8 million in cash, cash equivalents, and marketable securities.

About vispacabtagene regedleucel
Vispacabtagene regedleucel (vispa-cel; formerly known as CB-010) is an allogeneic anti-CD19 CAR-T cell therapy evaluated in patients with relapsed or refractory B cell non-Hodgkin lymphoma (r/r B-NHL). To Caribou’s knowledge, vispa-cel is the first allogeneic CAR-T cell therapy in the clinic with a PD-1 knockout, a genome-editing strategy designed to enhance CAR-T cell activity by limiting premature CAR-T cell exhaustion. Vispa-cel is pivotal trial-ready, with FDA alignment already reached on the phase 3 clinical trial design. To Caribou’s knowledge, vispa-cel is the first allogeneic CAR-T cell therapy to demonstrate safety, efficacy, and durability on par with autologous CAR-T cell therapies. The FDA granted vispa-cel Regenerative Medicine Advanced Therapy (RMAT), Fast Track, and Orphan Drug designations for B-NHL.

About CB-011
CB-011 is an allogeneic anti-BCMA CAR-T cell therapy evaluated in patients with relapsed or refractory multiple myeloma (r/r MM). To Caribou’s knowledge, CB-011 is the first allogeneic CAR-T cell therapy in the clinic that is engineered to enable activity through an immune cloaking strategy with a B2M knockout and insertion of a B2M–HLA-E-peptide fusion protein to blunt immune-mediated rejection. Clinical data from the CB-011 CaMMouflage phase 1 trial has demonstrated the potential for deep, durable responses in patients with r/r MM. The FDA granted CB-011 RMAT, Fast Track, and Orphan Drug designations for r/r MM.

About Caribou Biosciences, Inc.
Caribou is a clinical-stage CRISPR genome-editing biopharmaceutical company dedicated to developing transformative therapies for patients with devastating diseases. Caribou’s chRDNA genome-editing technology enables superior precision to develop cell therapies that are armored to potentially improve activity against diseases. For more information, please visit www.cariboubio.com. 

Forward-looking statements and important information
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential,” or “continue,” or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. These forward-looking statements include, but are not limited to, any statements regarding Caribou’s plans to explore opportunities to maximize stockholder value, ability to enter into any agreements or transactions in connection with potential strategic transactions, or if entered into, that any such agreements or transactions will be successful or on attractive terms; Caribou’s plans for cost reductions; and the sufficiency of its estimated cash, cash equivalents, and marketable securities. Management believes that these forward-looking statements are reasonable as and when made. However, such forward-looking statements are subject to risks and uncertainties, and actual results may differ materially from any future results expressed or implied by the forward-looking statements. Risks and uncertainties include, without limitation, risks associated with Caribou’s decision to initiate the strategic review process, including identifying and executing one or more transactions that maximize stockholder value; discontinue clinical trials and further development of its allogeneic CAR-T cell therapy programs; implement a restructuring and workforce reduction; as well as other more general risks associated with obtaining, maintaining or protecting intellectual property rights related to its product candidates and managing risks associated therewith; and managing expenses; among others; as well as other risk factors described from time to time in Caribou’s filings with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year ended December 31, 2025, and subsequent SEC filings. In light of the significant uncertainties in these forward-looking statements, you should not rely upon forward-looking statements as predictions of future events. Except as required by law, Caribou undertakes no obligation to update publicly any forward-looking statements for any reason.

Caribou Biosciences, Inc. contact:
Peggy Vorwald, PhD
investor.relations@cariboubio.com 
media@cariboubio.com 

SPOKANE, Wash., Oct. 06, 2026 (GLOBE NEWSWIRE) — Avista Corp. (NYSE: AVA) will hold its quarterly conference call and webcast to discuss third quarter 2026 results on Wednesday, Nov. 4, 2026, at 10:30 a.m. Eastern Daylight Time. A news release with third quarter 2026 earnings information will be issued at 7:05 a.m. Eastern Daylight Time on Nov. 4, 2026.

This call can be accessed on Avista’s website at investor.avistacorp.com. You must pre-register for the call via the Presentations and Events link at Avista’s website (investor.avistacorp.com/events-and-presentations) to access the call-in details for the webcast. A replay of the webcast will be available for one year on the Avista Corp. website at investor.avistacorp.com.

Avista Corp. is an energy company involved in the production, transmission and distribution of energy as well as other energy-related businesses. Avista Utilities is the operating division that provides electric service to 429,000 customers and natural gas to 386,000 customers. Its service territory covers 34,000 square miles in eastern Washington, northern Idaho and parts of southern and eastern Oregon, with a population of 1.5 million. Alaska Energy and Resources Company is an Avista subsidiary that provides retail electric service to 18,000 customers in the city and borough of Juneau, Alaska, through its subsidiary Alaska Electric Light and Power Company. Avista stock is traded under the ticker symbol “AVA.”  For more information about Avista, please visit avistacorp.com.

Avista Corp. and the Avista Corp. logo are trademarks of Avista Corporation.

To unsubscribe from Avista’s news release distribution, send reply message to dalila.sheehan@avistacorp.com

Contact:
Media:		Avista 24/7 Media Access (509) 495-4174
		Lena Funston (509) 495-8090, lena.funston@avistacorp.com
Investors:		Stacey Walters (509) 495-2046, stacey.walters@avistacorp.com

HOLLISTON, Mass., Oct. 06, 2026 (GLOBE NEWSWIRE) — Harvard Bioscience, Inc. (Nasdaq: HBIO) today announced the creation of its Scientific Advisory Board (SAB) to guide the Company’s ongoing research, development, and new product roadmaps. The SAB will meet quarterly and consists of five members, Harvard Bioscience President and CEO John Duke and four experienced industry leaders.

“The formation of our Scientific Advisory Board marks an exciting chapter for Harvard Bioscience,” said John Duke, President and CEO of Harvard Bioscience. “It brings together distinguished industry leaders to influence our R&D and new product roadmaps. The combined expertise in drug discovery, translational medicine, and launching new products will be instrumental in maximizing value for our customers and shareholders.”

The newly appointed members of the Harvard Bioscience Scientific Advisory Board include:

John Duke | President, CEO & Board Member, Harvard Bioscience

• John Duke has served as President, CEO, of Harvard Bioscience since 2025. Prior to Harvard Bioscience, he was CEO at Plastic Molding Technology, and spent 25 years at Corning Incorporated, including 10 years in Corning Life Sciences.

Dr. Ryan Conder | Director, Epithelial & Organoid Systems at STEMCELL Technologies

• Dr. Ryan Conder possesses extensive knowledge and experience with molecular biology, biochemistry, biotechnology, and drug discovery, as well as organoid systems. In addition to his work at STEMCELL Technologies, Dr. Conder currently serves as an adjunct professor at Simon Fraser University in the Department of Molecular Biology and Biochemistry.

Dr. Aaron Goldman | Director, Drug Resistance Group at Harvard Medical School

• Dr. Aaron Goldman is the founder and Director of the Drug Resistance Group at Brigham and Women’s Hospital, with nearly 20 years of experience in medical pharmacology, translational medicine, and oncology research. Dr. Goldman currently serves as an Operating Partner at BroadOak Capital Partners and an EIR at Memorial Sloan Kettering Cancer Center, and holds appointments at Dana-Farber Cancer Institute, Harvard Medical School, and Mass General Brigham.

Dr. Keith Olson | CEO, Ananda Devices

• Currently serving as the CEO of Ananda Devices, Dr. Keith Olson is a veteran life sciences executive with over three decades of leadership experience spanning drug discovery tools, new product development, sales and marketing. Prior to his role at Ananda, Dr. Olson held roles at FujiFilm Cellular Dynamics and Life Technologies.

Eric Richman | Board Member, LabConnect & SafeHeal

• Eric Richman is a seasoned board member and venture capitalist in the life sciences space, with over 25 years of experience as an executive including numerous CEO roles. Mr. Richman currently sits on the board of directors of LabConnect, SafeHeal, Polarity Bio, MicroHealth Digital, and Tempo Therapeutics. He has previously held board roles with Adma Biologics, Gain Therapeutics, F2G, Tyrogenex, and others.

About Harvard Bioscience 
Harvard Bioscience, Inc. is a leading developer, manufacturer and seller of technologies, products and services that enable fundamental advances in life science applications, including research, pharmaceutical and therapy discovery, bio-production and preclinical testing for pharmaceutical and therapy development. Our customers range from renowned academic institutions and government laboratories to the world’s leading pharmaceutical, biotechnology and contract research organizations. With operations in the United States, Europe, and China, we sell through a combination of direct and distribution channels to customers around the world.

For more information, please visit our website at www.harvardbioscience.com.

Forward-Looking Statements
This document contains forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “may,” “will,” “expect,” “plan,” “anticipate,” “estimate,” “intend,” “believe” and similar expressions or statements that do not relate to historical matters. Forward-looking statements include, but are not limited to, information concerning expected future financial and operational performance including revenues, adjusted gross margin, adjusted EBITDA, gross margin, cash and debt position, balance sheet, growth, adoption and the introduction of new products, the strength of the Company’s market position, business model and anticipated macroeconomic conditions. Forward-looking statements do not guarantee future performance and involve known and unknown uncertainties, risks, assumptions, and contingencies, many of which are outside the Company’s control. Risks and other factors that could cause the Company’s actual results to differ materially from those described in its forward-looking statements include those described in the “Risk Factors” section of the Company’s most recently filed Annual Report on Form 10-K, as well as in the Company’s other filings with the Securities and Exchange Commission. Forward-looking statements are based on the Company’s expectations and assumptions as of the date of this document. Except as required by law, the Company assumes no obligation to update forward-looking statements to reflect any change in expectations, even as new information becomes available.

Company Contact:
Mark Frost
Chief Financial Officer
(508) 893-3120
investors@harvardbioscience.com

MARYSVILLE, Ohio, Oct. 06, 2026 (GLOBE NEWSWIRE) — The Scotts Miracle-Gro Company (NYSE: SMG), home to North America’s leading consumer lawn and garden brands, today announced the naming of Prathima Hegde to senior vice president and chief information officer.

In this new role, Hegde will lead enterprise IT with a focus on driving technology modernization, operational excellence, AI integration and digital capabilities to advance the SMG multi-year growth strategy and the evolution into a consumer lifestyle company. She also will support the implementation of SAP S/4HANA. Hegde reports to President and CEO Nate Baxter as a key member of the leadership team.

“The modernization of our enterprise systems will enhance our ability to exceed consumer expectations, complementing our high-performing products with seamless digital experiences and expert guidance to serve as the trusted partner for bringing their living spaces to life,” Baxter said. “Our technology upgrades will also directly power each of our SMG 2.0 building blocks by enabling product innovation, omnichannel and retail expansion, category growth and operational efficiencies.

“Prathima’s experience is directly relevant to where we are headed. She brings exceptional expertise in leading complex digital transformations and aligning technology with business outcomes. She will play a vital role in modernizing our technology core, enhancing productivity through automation and AI, and further strengthening ScottsMiracle-Gro for sustainable growth.”

Hegde has more than two decades of enterprise technology leadership across consumer packaged goods, manufacturing, healthcare and education. Most recently, as CIO of Del Monte Foods, she spearheaded enterprise IT strategy, cloud modernization, data analytics and AI initiatives. Previously, as head of corporate applications at Tropicana Brands Group, she led the technology spinoff from PepsiCo, building modern digital platforms. She has also served in senior IT roles at Adtalem Global Education and Abbott Laboratories. Hegde holds an MBA in strategy and finance from the University of Chicago Booth School of Business and a Bachelor of Science in microbiology from Osmania University.

SMG 2.0 Growth Strategy

The Company previously announced its multi-year SMG 2.0 strategy for sustainable growth and long-term shareholder value. Its building blocks include:

• Portfolio optimization and innovation to drive premium growth.
• Omnichannel and retail expansion to engage broader consumer groups.
• Category and market expansion to grow the Company’s addressable market.
• Technology-driven operational excellence with a focus on expanding margins via targeted AI, automation and supply chain efficiencies.

About ScottsMiracle-Gro
With approximately $3.3 billion in sales, the Company is the leading marketer of branded consumer lawn and garden products in North America. The Company’s brands are among the most recognized in the industry. The Company’s Scotts®, Miracle-Gro®, Ortho® and Tomcat® brands are market-leading in their categories. For additional information, visit us at www.scottsmiraclegro.com

For investor inquiries:
Brad Chelton
Vice President
Treasury, Tax and Investor Relations
brad.chelton@scotts.com
(937) 309-2503

For media inquiries:
Tom Matthews
Chief Communications Officer
tom.matthews@scotts.com
(937) 844-3864

SAN DIEGO, Oct. 06, 2026 (GLOBE NEWSWIRE) — Encore Capital Group, Inc. (Nasdaq:ECPG), an international specialty finance company, announced today that it will release its financial results for the third quarter 2026 on Wednesday, November 4, 2026, after the market closes. The Company will also host a conference call and slide presentation the same day at 2:00 p.m. Pacific / 5:00 p.m. Eastern time with Ashish Masih, President and Chief Executive Officer, Tomas Hernanz, Executive Vice President and Chief Financial Officer, and Bruce Thomas, Vice President, Global Investor Relations, presenting and discussing the reported results.

Members of the public are invited to access the live webcast via the Internet by logging in on the Investor Relations page of Encore’s website at www.encorecapital.com. To access the live conference call by telephone, please pre-register using this link. Registrants will receive confirmation with dial-in details.

For those who cannot listen to the live broadcast, a replay of the webcast will be available on the Company’s website shortly after the call concludes.

About Encore Capital Group, Inc.

Encore Capital Group is an international specialty finance company that provides debt recovery solutions and other related services for consumers across a broad range of financial assets. Through its subsidiaries around the globe, Encore purchases portfolios of consumer receivables from major banks, credit unions, and utility providers.

Encore partners with individuals as they repay their debt obligations, helping them on the road to financial recovery and ultimately improving their economic well-being. Encore is the first and only company of its kind to operate with a Consumer Bill of Rights that provides industry-leading commitments to consumers. Headquartered in San Diego, Encore is a publicly traded NASDAQ Global Select company (ticker symbol: ECPG) and a component stock of the Russell 2000, the S&P Small Cap 600 and the Wilshire 4500. More information about the company can be found at www.encorecapital.com.

Contact:
Bruce Thomas
Encore Capital Group, Inc.
bruce.thomas@encorecapital.com

SOURCE: Encore Capital Group, Inc.

Reports Quarterly Asset Growth of 2.1% and Net Originations of $37.1 Million, Including Two New Portfolio Companies

Non-Accruals Remain Low at 0.0% of Fair Value and 1.3% of Cost

Repurchase of 444,124 Shares, Contributing $0.09 Per Share of NAV Accretion

NEW YORK, Oct. 06, 2026 (GLOBE NEWSWIRE) — Saratoga Investment Corp. (NYSE: SAR) (“Saratoga Investment” or “the Company”), a business development company (“BDC”), today announced financial results for its fiscal second quarter 2027 ended August 31, 2026.

Summary Financial Information
The Company’s summarized financial information is as follows:

	For the three months ended and as of
($ in thousands, except per share)	August 31, 2026	May 31, 2026	August 31, 2025
Assets Under Management (AUM)	1,150,190	1,126,334	995,295
Net Asset Value (NAV)	352,577	378,455	410,500
NAV per share	22.15	23.23	25.61
Total Investment Income	31,169	30,777	30,626
Net Investment Income (NII) per share	0.45	0.47	0.58
Adjusted NII per share	0.46	0.47	0.58
Earnings per share	(0.41)	(0.42)	0.84
Dividends per share (record date)	0.75	0.75	0.75
Return on Equity – last twelve months	(1.1%)	4.0%	9.1%
– annualized quarter	(7.3%)	(7.1%)	13.8%
Originations	76,113	79,151	52,222
Repayments	39,048	48,415	29,824

Positive highlights during and subsequent to the quarter include:

• High-quality AUM growth of 2.1% sequentially, including two new non-software portfolio companies,
• Issuance of an $85.0 million SAX baby bond, which subsequent to quarter-end increased to $120.8 million through exercise of the green shoe and reopening of the issuance. This issuance allowed for refinancing of the $105.5 million SAT baby bond, reducing refinancing risk for next year. Opportunistically issued prior to Labor Day and subsequent increases in interest rates and competitive offerings,
• Repurchases of 444,124 shares at a discount to NAV resulting in a $0.09 per share NAV per share accretion,
• Took advantage of robust refinancing environment to reset CLO1 at $350 million at lower rates, three-year reinvestment period, future BDC management fees and significantly improved interest income,
• Significant Zollege investment appreciation, and
• Both Pepper Palace and the CLO F-Note have been sold post quarter-end, thereby eliminating all remaining non-accrual investments, and recently our Exigo red investment was also fully exited at $8.0 million, resulting in a -6.1% IRR over the life of the investment.

Headwinds during the quarter:

• Balance sheet refinancing resulting in additional interest expense from higher cost debt while spreads on assets not yet widening, although recent base rate increases will benefit interest income,
• NAV per share decline includes $0.82 per share specifically related to company performance in three distinct credits, and $0.30 per share related to dividend distributions exceeding net investment income, offset by $0.09 per share appreciation from share repurchases, and
• $13.3 million of $25.9 million NAV decline from accretive share repurchases (32%) and excess dividend distribution (19%) of previously undistributed earnings, which reduces the Company spillover obligation.

Christian L. Oberbeck, Chairman and Chief Executive Officer of Saratoga Investment, commented, “Our second-quarter results demonstrate the resilience of our platform despite the continued pressure affecting private credit markets. We grew assets under management by 2.1% to $1.150 billion, generating $37.1 million of net originations, while adjusted NII remained relatively stable at $0.46 per share including the cost of our recently refinanced capital structure. Although company-specific valuation adjustments, most previously highlighted in Q1, reduced NAV during the quarter, our core BDC portfolio ended the period only 1.6% below cost, and non-accrual investments represented 0.0% of total portfolio fair value and 1.3% of cost, with both the F-Note and Pepper Palace being sold after quarter-end. We believe these results reflect the underlying quality of the overall portfolio and our ability to continue deploying capital selectively in a volatile market.”

“Continuing our track record of strong dividend distributions, we recently announced a base monthly dividend of $0.25 per share, or $0.75 per share in aggregate for the third quarter of fiscal 2027. Our annualized third quarter dividend of $0.75 per share represents an 18.1% yield based on the stock price of $16.61 as of October 5, 2026, offering strong current income. Originations and AUM growth during the quarter contributed to adjusted NII of $0.46 per share, compared to $0.47 per share last quarter. The modest sequential decline reflected higher interest income from portfolio growth, including new originations and BB and BBB CLO debt investments, offset by the full-period impact of our recent refinancing activity.”

“Investment activity remained healthy during the quarter, supported by the continued expansion of our business development capabilities and sponsor relationships. Market dynamics continued to be very competitive. Despite this, we originated $76.1 million of investments, including investments in two new portfolio companies and nine follow-on investments, compared with $39.0 million of repayments, resulting in $37.1 million of net originations. Approximately $9.2 million of the quarter’s originations consisted of BB and BBB CLO debt investments. While competition remains significant and sentiment across private credit continues to be cautious, we remain highly selective and disciplined in evaluating opportunities given the uncertain operating environment. Our strong reputation, differentiated market positioning, and the ongoing development of sponsor relationships continue to create attractive investment opportunities from high-quality sponsors. We remain prudent and discerning in our underwriting approach, particularly in light of the current volatile and uncertain environment.”

“Saratoga’s overall performance is reflected in our key performance indicators this past quarter and year, including: (i) an increase in AUM of $23.9 million, or 2.1%, to $1.150 billion from the previous quarter, and $154.9 million, or 15.6%, from the previous year, (ii) NAV decrease of $25.9 million, or 6.8%, to $352.6 million from the previous quarter, with 49% of the decline due to portfolio adjustments and 51% due to excess dividend distributions and share repurchases, (iii) LTM ROE of (1.1)% as compared to the industry average of 2.2%, (iv) adjusted NII of $0.46 versus $0.47 per share last quarter, (v) EPS of $(0.41) per share versus $(0.42) in the previous quarter, and (vi) total dividends of $0.75 per share, unchanged from last quarter and last year.”

“NAV per share is down by 4.6% from $23.23 per share last quarter to $22.15 per share in Q2. Of the $1.08 per share reduction this quarter, $0.90 per share was attributable to unrealized depreciation on investments discussed below, and $0.30 per share distribution of dividends in excess of earnings, partially offset by $0.09 per share of accretion from net share repurchases.”

“Our total $1.150 billion portfolio was marked down $14.4 million during the quarter from realized gains and unrealized depreciation. The non-CLO portfolio had $15.4 million of net depreciation, driven primarily by $13.1 million of markdowns in Madison Logic, Exigo and Chronus, reflecting company performance adjustments, and the sales of Gen4 and Modis that resulted in a $1.5 million reversal of previously recognized unrealized appreciation, while other marks reflected a combination of lower equity market multiples and changes in market spreads. These declines were partially offset by $4.5 million of unrealized appreciation in Zollege. The CLO1’s F Note remained at zero fair value, the JV was written down $1.1 million, representing primarily the effect of $0.8 million of dividend income that reduced fair value, and the BB and BBB portfolio was relatively flat. We also recognized $2.1 million of realized gains, primarily from the Gen4 and Modis Dental equity conversions as part of a merger transaction. At quarter-end, our core BDC portfolio was 1.6% below cost and the total portfolio was 4.9% below cost.”

“During the quarter, our core non-CLO net interest margin increased by $0.2 million to $13.6 million. The average core assets increase of 1.2% and 5 basis points increase in the average SOFR rate used in the portfolio, was offset by (i) spreads on originations this quarter being 220 basis points lower than the repayments they replaced, and (ii) increased interest expense due to changes in our capital structure. Shares issued under the DRIP were fully offset by share repurchases, resulting in no net dilution.”

“Our quarter-end cash position increased from $60.8 million last quarter to $95.9 million, and used subsequent to quarter-end to redeem the $105.5 million SAT baby bond that was called.”

“Our overall credit quality remained solid this quarter, with 96.0% of credits rated in our highest internal category, a result we are proud of given the current headwinds in the industry, as further seen in this quarter’s markdowns. Pepper Palace and our CLO’s F Note remained on non-accrual and at zero fair value, together representing 0.0% of portfolio fair value and 1.3% of portfolio cost. With 81.5% of our investments at quarter-end in first lien debt, generally supported by strong enterprise values and resilient balance sheets in industries that have historically performed well in stressed situations, we believe our portfolio composition and leverage profile are well structured to handle a wide range of economic conditions and uncertainty.”

Mr. Oberbeck concluded, “As we reach the halfway point of fiscal year 2027, the operating environment remains uneven as geopolitical uncertainty, persistent inflation, interest-rate volatility and concerns regarding AI-related disruption within the software sector continue to affect borrowers and valuations. These conditions have contributed to higher default activity, declining NAVs across the industry and dividend reductions by several BDCs. At Saratoga, however, the NAV decline this quarter was concentrated in a limited number of company-specific situations and does not appear to reflect broad-based deterioration across the portfolio. At the same time, strong BDC debt issuance, firmer values for higher-quality loans and improving M&A activity point to a market that appears to be stabilizing and increasingly differentiating among managers. We remain confident that our disciplined, senior secured, first-lien focused underwriting and well-structured balance sheet position Saratoga to navigate this environment and continue delivering durable, risk-adjusted returns to our shareholders over the long term.”

Discussion of Financial Results for the Quarter ended August 31, 2026:

• AUM at fair value as of August 31, 2026 was $1.150 billion, an increase of 2.1% from $1.126 billion as of last quarter, and an increase of 15.6% from $995.3 million as of August 31, 2025.
• Total investment income for the three months ended August 31, 2026, was $31.2 million, an increase of $0.6 million, or 2.0%, from $30.6 million for the quarter ended August 31, 2025, and an increase of $0.4 million, or 1.3%, as compared to $30.8 million for the quarter ended May 31, 2026. This quarter’s investment income increase, as compared to prior quarters, was primarily due to the full-quarter impact of Q1 originations and the partial-quarter impact of Q2 originations more than offsetting repayments. Investment income reflects a weighted average interest rate on the core BDC portfolio of 10.6%, up from 10.5% as of May 31, 2026 and down from 11.3% as of August 31, 2025, and starting to reflect recent SOFR base rate increases.
• Total expenses for the quarter ended August 31, 2026, excluding interest and debt financing expenses, base management fees and incentive fees, and income and excise taxes, were $2.9 million, an increase of $0.4 million compared to $2.5 million for the quarter ended August 31, 2025, and an increase of $0.2 million as compared to $2.7 million for the quarter ended May 31, 2026. This represented 0.9% of average total assets on an annualized basis, unchanged from 0.9% last quarter and up from 0.8% last year.
• Adjusted NII for the quarter ended August 31, 2026, was $7.4 million, or $0.46 per share, compared with $9.1 million, or $0.58 per share, for the quarter ended August 31, 2025 and $7.6 million, or $0.47 per share, for the quarter ended May 31, 2026. The modest sequential decline primarily reflected the impact of the recent changes to the capital structure increasing interest expense, as well as (i) slight decreases in other income from lower structuring, advisory and prepayment fees, and (ii) higher base management fees from higher AUM.
• NII Yield as a percentage of average net asset value for the quarter ended August 31, 2026, was 8.0%. Adjusted NII Yield was 8.1%, as compared to adjusted NII Yield of 9.0% last year, and 7.8% last quarter.
• NAV was $352.6 million as of August 31, 2026, a decrease of $57.9 million from $410.5 million as of August 31, 2025, and a decrease of $25.9 million from $378.5 million as of May 31, 2026.
• NAV per share was $22.15 as of August 31, 2026, compared to $23.23 as of May 31, 2026, and $25.61 as of August 31, 2025.
• Return on equity (“ROE”) for the last twelve months ended August 31, 2026, was (1.1%), compared with 9.1% for the comparable period last year, and 4.0% for the twelve months ended May 31, 2026. ROE on an annualized basis for the quarter ended August 31, 2026 was (7.3)%.
• Repurchased 444,124 shares of common stock under our Share Repurchase Plan at an average price of $18.91 per share for approximately $8.4 million during the quarter. The shares were repurchased below NAV, generating approximately $0.11 per share of NAV accretion and fully offsetting shares issued under the Company’s dividend reinvestment plan.
• The weighted average common shares outstanding for the quarter ended August 31, 2026 was 16.2 million, down from 16.3 million shares last quarter and increasing from 15.8 million for the quarter ended August 31, 2025.

Portfolio and Investment Activity for the Quarter Ended August 31, 2026

• Fair value of Saratoga Investment’s portfolio was $1.150 billion, excluding $95.9 million in cash and cash equivalents, principally invested in 50 portfolio companies, one collateralized loan obligation fund (the “CLO”), one joint venture fund (the “JV”), and 32 distinct BB and BBB CLO debt investments.
• Cost of investments made during the quarter ended August 31, 2026 were $76.1 million, including two investments in new portfolio companies and nine follow-on investments. Cost of investments made during the six months ended August 31, 2026 were $155.3 million.
• Principal repayments during the quarter ended August 31, 2026, were $39.0 million, including two full debt repayments and equity realizations, four partial repayments, plus amortization. Principal repayments for the six months ended August 31, 2026 were $87.5 million.
  • For the quarter ended August 31, 2026, the fair value of the portfolio decreased by $14.4 million of net realized gains and unrealized depreciation, consisting primarily of (i) $15.4 million of net depreciation in the non-CLO core portfolio, (ii) a $1.1 million write down in the JV, and (iii) $2.1 million of net realized gains, primarily from the Gen4 and Modis Dental equity conversions.
  • The $15.4 million of net depreciation in the non-CLO core portfolio consisted primarily of three components:
    • Madison Logic, Exigo and Chronus continued to decline and represented $13.1 million of the quarter’s write-downs;
    • The equity conversions of Gen4 and Modis resulted in a $1.5 million reversal of previously recognized unrealized appreciation; and
    • The remaining portfolio marks reflected numerous lower equity market multiples in certain equity positions and the impact of changes in market spreads across the portfolio, offset by $4.5 million of unrealized appreciation in Zollege.
  • Since taking over management of the BDC in 2010, the Company has generated $1.41 billion of repayments and sales of investments originated by Saratoga Investment, generating a gross unlevered IRR of 14.9%. Total investments originated by Saratoga are $2.66 billion in 134 portfolio companies.
• The overall portfolio composition consisted of 81.5% of first lien term loans, 3.9% of second lien term loans, 1.4% of unsecured loans, 6.1% of structured finance securities, and 7.1% of common equity.
• The weighted average current yield on Saratoga Investment’s portfolio based on current fair values was 9.9%, which was comprised of a weighted average current yield of 10.5% on first lien term loans, 12.0% on second lien term loans, 11.4% on unsecured loans, 10.9% on structured finance securities and 0.0% on equity interests.
• On September 17, 2026, the Company completed the sixth refinancing of the Saratoga CLO. This refinancing, among other things, extended the Saratoga CLO reinvestment period to October 2029, extended its legal maturity to October 2037, and established a non-call period ending in April 2028. This new Saratoga CLO will have approximately $350 million in assets. As part of this refinancing, we invested an additional $16.2 million in newly issued subordinated notes of the Saratoga CLO and purchased $2.6 million in aggregate principal amount of its Class E-2-R5 notes tranche at par.

Liquidity and Capital Resources

Outstanding Borrowings:

• On August 26, 2026, we issued $85.0 million in aggregate principal amount of 8.00% fixed-rate notes due 2031 (the “8.00% 2031 Notes”) for net proceeds of approximately $82.3 million. Estimated offering costs incurred were approximately $0.3 million. Interest on the 8.00% 2031 Notes is paid quarterly on February 28, May 31, August 31 and November 30 of each year, with the first payment to be made on November 30, 2026. The Notes will mature on August 31, 2031. The 8.00% 2031 Notes may be redeemed in whole or in part at any time or from time to time at the Company’s option on or after August 26, 2028. The Company has granted the underwriters an option to purchase up to an additional $12.75 million in aggregate principal amount of Notes, and on September 2, 2026, the underwriters fully exercised their option for net proceeds to the Company of $12.4 million after deducting underwriting commissions of approximately $0.4 million. In addition, on September 24, 2026, the Company issued an additional $23.1 million in aggregate principal amount of its 8.00% Notes due 2031, including $3.0 million pursuant to the underwriters’ exercise in full of their over-allotment option. Net proceeds to the Company were $22.5 million, based on the public offering price of 99.6% of the aggregate principal amount, after deducting underwriting commissions of approximately $0.5 million and estimated offering expenses of $0.2 million. The Notes are listed on the NYSE under the trading symbol “SAX”. The Company has received an investment grade private rating of “BBB” from Egan-Jones Ratings Company, an independent, unaffiliated rating agency.
• As of August 31, 2026 Saratoga Investment had $902.4 million of borrowings outstanding, including $32.5 million under its $85.0 million senior secured revolving Valley Credit Facility and $37.5 million under its $75.0 million senior secured revolving Live Oak Credit Facility.
• In addition, Saratoga Investment had $84.0 million of SBA debentures in its SBIC II license outstanding, $129.0 million of SBA debentures in its SBIC III license outstanding, $454.4 million of listed baby bonds issued, $75.0 million of unsecured unlisted institutional bond issuances, four unlisted private issuances of $90.0 million in total, and an aggregate of $95.9 million in cash and cash equivalents.
• On September 18, 2026, the Company redeemed, in full, $105.5 million aggregate principal amount of the issued and outstanding 6.00% 2027 Notes. The 6.00% 2027 Notes were redeemed at 100% of their principal amount, plus the accrued and unpaid interest thereon, through, but excluding, the date of redemption.

Undrawn Borrowing Capacity:

• With $90.0 million available under the two credit facilities and $95.9 million of cash and cash equivalents as of August 31, 2026, Saratoga Investment has a total of $185.9 million of undrawn credit facility borrowing capacity and cash and cash equivalents available, however this cash and the additional bond proceeds raised on September 2, 2026 is to be used for the repayment of the 6.00% 2027 Notes. The available credit facility can be used for new investments or to support existing portfolio companies in the BDC and the SBIC.
• In addition, Saratoga Investment has $46.0 million in undrawn SBA debentures available from its existing SBIC III license. And in May 2026, legislation amending the Small Business Investment Act of 1958 increased the individual SBIC leverage limit from $175.0 million to $250.0 million, and the maximum leverage available for two or more SBICs under common control from $350.0 million to $475.0 million, in each case subject to SBA approvals. On September 4, 2026, the Company received notification from the SBA that SBIC III’s individual leverage limit was increased to $250.0 million, providing an additional $75.0 million of long-term capital in the form of SBA-guaranteed debentures.
• Availability under the Valley National Bank and Live Oak credit facilities can change depending on portfolio company performance and valuation. In addition, certain follow-on investments in SBIC II and the BDC will not qualify for SBIC III funding.
• Total Saratoga Investment undrawn borrowing capacity is therefore $136.0 million as of August 31, 2026.
• As of August 31, 2026, Saratoga Investment had $120.0 million of committed undrawn lending commitments and $61.1 million of discretionary funding commitments.

Additionally:

• Saratoga Investment has an active equity distribution agreement with Ladenburg Thalmann & Co. Inc., Raymond James and Associates, Inc, Lucid Capital Markets, LLC and Compass Point Research and Trading, LLC, through which the Company may offer for sale, from time to time, up to $300.0 million of common stock through an ATM offering.
  • As of August 31, 2026, Saratoga Investment has sold 8,591,915 shares for gross proceeds of $227.2 million at an average price of $26.42 for aggregate net proceeds of $225.4 million (net of transaction costs).
  • During the three and six months ended August 31, 2026, Saratoga Investment did not sell any shares through its ATM Program.

Dividend

On September 9, 2026, Saratoga Investment announced that its Board of Directors declared a base quarterly dividend of $0.75 per share in aggregate for the third quarter of fiscal 2027, declaring the following three monthly $0.25 per share dividends:

Month		Amount Per Share			Record Date		Payment Date
September 2026		$0.25			October 6, 2026		October 22, 2026
October 2026		$0.25			November 5, 2026		November 24, 2026
November 2026		$0.25			December 3, 2026		December 22, 2026

Shareholders have the option to receive payment of dividends in cash or receive shares of common stock, pursuant to the Company’s DRIP. Shares issued under the Company’s DRIP are issued at a 5% discount to the average market price per share at the close of trading on the ten trading days immediately preceding (and including) the payment date.

The following table highlights Saratoga Investment’s monthly dividend distribution for fiscal 2027 and annual distribution over the past five years:

Period (Fiscal Year ends Feb)	Base Dividend Per Share		Special Dividend Per Share	Total Dividend Per Share
Fiscal Q3 2027 (November 2026)	$0.25		–	$0.25
Fiscal Q3 2027 (October 2026)	$0.25		–	$0.25
Fiscal Q3 2027 (September 2026)	$0.25		–	$0.25
Fiscal Q2 2027 (August 2026)	$0.25		–	$0.25
Fiscal Q2 2027 (July 2026)	$0.25		–	$0.25
Fiscal Q2 2027 (June 2026)	$0.25		–	$0.25
Fiscal Q1 2027 (May 2026)	$0.25		–	$0.25
Fiscal Q1 2027 (April 2026)	$0.25		–	$0.25
Fiscal Q1 2027 (March 2026)	$0.25		–	$0.25
Total Declared in Fiscal 2027 YTD	$2.25		–	$2.25
Full Year Fiscal 2026	$3.00		$0.25	$3.25
Full Year Fiscal 2025	$2.96		$0.35	$3.31
Full Year Fiscal 2024	$2.86		–	$2.86
Full Year Fiscal 2023	$2.44		–	$2.44

Share Repurchase Plan

As of August 31, 2026, the Company purchased 1,481,822 shares of common stock, at the average price of $21.11 for approximately $31.3 million pursuant to the Share Repurchase Plan. During the three and six months ended August 31, 2026, the Company purchased 444,124 shares of common stock, at an average price of $18.91 for approximately $8.4 million pursuant to the Share Repurchase Plan.

Previously, in fiscal year 2015, the Company announced the approval of an open market share repurchase plan (the “Share Repurchase Plan”) that allows it to repurchase up to 200,000 shares of its common stock at prices below its NAV as reported in its then most recently published financial statements. Since then, the Share Repurchase Plan has been extended annually, and the Company has periodically increased the amount of shares of common stock that may be purchased under the Share Repurchase Plan, most recently to 2.7 million shares of common stock. On January 6, 2026, its Board of Directors extended the Share Repurchase Plan for another year to January 15, 2027.

Fiscal Second Quarter 2027 Conference Call/Webcast Information

When:	Wednesday, October 7, 2026
	10:00 a.m. Eastern Time (ET)
How:	Webcast: Interested parties may access a live webcast of the call and find the Q2 2027 presentation by going to the “Events & Presentations” section of Saratoga Investment Corp.’s investor relations website, Saratoga events and presentations. A replay of the webcast will also be available for a limited time at Saratoga events and presentations.
Call:	To access the call by phone, please go to the Registration Link, and you will be provided with dial-in details. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time.

About Saratoga Investment Corp.

Saratoga Investment is a specialty finance company that provides customized financing solutions to U.S. middle-market businesses. The Company invests primarily in senior and unitranche leveraged loans and mezzanine debt, and, to a lesser extent, equity to provide financing for change of ownership transactions, strategic acquisitions, recapitalizations and growth initiatives in partnership with business owners, management teams and financial sponsors. Saratoga Investment’s objective is to create attractive risk-adjusted returns by generating current income and long-term capital appreciation from its debt and equity investments. Saratoga Investment has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended, and is externally managed by Saratoga Investment Advisors, LLC, an SEC-registered investment advisor focusing on credit-driven strategies. Saratoga Investment Corp. owns two active SBIC-licensed subsidiaries, having surrendered its first license after repaying all debentures for that fund following the end of its investment period and subsequent wind-down. Furthermore, it manages a $350 million collateralized loan obligation (“CLO”) fund that has recently repriced and reset its reinvestment period and co-manages a joint venture (“JV”) fund that owns a $400 million collateralized loan obligation (“JV CLO”) fund.  It also owns 50% of the Class E2R5 notes and 100% of the subordinated notes of the CLO, 87.5% of both the unsecured loans and membership interests of the JV and 87.5% of the Class E-R notes of the JV CLO. The Company’s diverse funding sources, combined with a permanent capital base, enable Saratoga Investment to provide a broad range of financing solutions.

Forward Looking Statements

This press release contains historical information and forward-looking statements with respect to the business and investments of the Company, including, but not limited to, the statements about future events or our future performance or financial condition. Forward-looking statements can be identified by the use of forward looking words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or negative versions of those words, other comparable words or other statements that do not relate to historical or factual matters. The forward-looking statements are based on our beliefs, assumptions and expectations of our future performance, taking into account all information currently available to us. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including, but not limited to: changes in the markets in which we invest; changes in the financial, capital, and lending markets; an economic downturn or a recession and its impact on the ability of our portfolio companies to operate and the investment opportunities available to us; the impact of interest rate volatility on our business and our portfolio companies; the uncertainty associated with the imposition of tariffs and trade barriers and changes in trade policy and its impact on our portfolio companies and the global economy; the impact of supply chain constraints and labor shortages on our portfolio companies; and the elevated levels of inflation and its impact on our portfolio companies and the industries in which we invest, as well as those described from time to time in our filings with the Securities and Exchange Commission.

Any forward-looking statement speaks only as of the date on which it is made. The Company undertakes no duty to update any forward-looking statements made herein or on the webcast/conference call, whether as a result of new information, future developments or otherwise, except as required by law. Readers should not place undue reliance on any forward-looking statements and are encouraged to review the Company’s Annual Report on Form 10-K for the fiscal year ended February 28, 2026 and subsequent filings, including the “Risk Factors” sections therein, with the Securities and Exchange Commission for a more complete discussion of the risks and other factors that could affect any forward-looking statements. 

Contacts:
Saratoga Investment Corporation
535 Madison Avenue, 4th Floor
New York, NY 10022

Henri Steenkamp
Chief Financial Officer
Saratoga Investment Corp.
212-906-7800
                                                             
Lena Cati
The Equity Group Inc.
Lena.Cati@theequitygroup.com
212-836-9611

Val Ferraro
The Equity Group Inc.
Val.Ferraro@theequitygroup.com
212-836-9633

Financials

Saratoga Investment Corp.
Consolidated Statements of Assets and Liabilities
		August 31, 2026				February 28, 2026
		(unaudited)
ASSETS
Investments at fair value
Non-control/Non-affiliate investments (amortized cost of $1,082,091,998 and $1,011,840,007, respectively)		$	1,056,184,544			$	1,016,247,566
Affiliate investments (amortized cost of $49,910,512 and $49,429,192, respectively)			49,257,789				52,710,911
Control investments (amortized cost of $77,083,090 and $75,118,675, respectively)			44,748,011				40,175,335
Total investments at fair value (amortized cost of $1,209,085,600 and $1,136,387,874, respectively)			1,150,190,344				1,109,133,812
Cash and cash equivalents			80,087,303				1,680,070
Cash and cash equivalents, reserve accounts			15,786,427				20,105,683
Interest receivable (net of reserve of $1,265,898 and $470,751, respectively)			9,122,307				7,314,053
Management fee receivable			229,150				249,720
Other assets			847,327				781,766
Total assets		$	1,256,262,858			$	1,139,265,104
LIABILITIES
Revolving credit facilities		$	70,000,000			$	70,000,000
Deferred debt financing costs, revolving credit facilities			(1,236,703	)			(1,670,816	)
SBA debentures payable			213,000,000				160,000,000
Deferred debt financing costs, SBA debentures payable			(4,792,550	)			(3,888,087	)
4.35% Notes Payable 2027			75,000,000				75,000,000
Discount on 4.35% notes payable 2027			(41,071	)			(108,898	)
Deferred debt financing costs, 4.35% notes payable 2027			(170,781	)			(344,393	)
6.25% Notes Payable 2027			15,000,000				15,000,000
Deferred debt financing costs, 6.25% notes payable 2027			(94,894	)			(130,839	)
6.00% Notes Payable 2027			105,500,000				105,500,000
Discount on 6.00% notes payable 2027			(27,924	)			(48,361	)
Deferred debt financing costs, 6.00% notes payable 2027			(470,739	)			(823,774	)
8.00% Notes Payable 2027			46,000,000				46,000,000
Deferred debt financing costs, 8.00% notes payable 2027			(405,603	)			(580,514	)
8.125% Notes Payable 2027			60,375,000				60,375,000
Deferred debt financing costs, 8.125% notes payable 2027			(543,519	)			(748,873	)
8.50% Notes Payable 2028			57,500,000				57,500,000
Deferred debt financing costs, 8.50% notes payable 2028			(661,105	)			(866,230	)
7.25% Notes Payable 2029			25,000,000				–
Discount on 7.25% notes payable 2029			(442,158	)			–
Deferred debt financing costs, 7.25% notes payable 2029			(115,176	)			–
7.25% Notes Payable 2030			50,000,000				50,000,000
Discount on 7.25% notes payable 2030			(394,008	)			(435,318	)
Deferred debt financing costs, 7.25% notes payable 2030			(777,418	)			(775,165	)
7.50% Notes Payable 2031			100,000,000				100,000,000
Deferred debt financing costs, 7.50% notes payable 2031			(3,171,759	)			(3,298,905	)
8.00% Notes Payable 2031			85,000,000				–
Deferred debt financing costs, 8.00% notes payable 2031			(2,884,102	)			–
Base management and incentive fees payable			6,893,075				6,602,819
Deferred tax liability			3,600,349				4,579,522
Accounts payable and accrued expenses			853,687				1,771,915
Interest and debt fees payable			5,537,756				3,904,143
Directors fees payable			–				5,500
Due to Manager			622,572				590,624
Current income tax payable			33,106				–
Total liabilities			903,686,035				743,109,350
Commitments and contingencies
NET ASSETS
Common stock, par value $0.001, 100,000,000 common shares
authorized, 15,915,928 and 16,224,198 common shares issued and outstanding, respectively			15,916				16,224
Capital in excess of par value			433,529,752				439,202,477
Total distributable deficit			(80,968,845	)			(43,062,947	)
Total net assets			352,576,823				396,155,754
Total liabilities and net assets		$	1,256,262,858			$	1,139,265,104
NET ASSET VALUE PER SHARE		$	22.15			$	24.42
Asset Coverage Ratio			171.9	%			168.4	%

	Saratoga Investment Corp.
	Consolidated Statements of Operations
	(unaudited)
			For the three months ended
			August 31, 2026				August 31, 2025
	INVESTMENT INCOME
	Interest from investments
	Interest income:
	Non-control/Non-affiliate investments		$	26,680,966			$	23,697,449
	Affiliate investments			710,089				684,587
	Control investments			687,577				1,191,555
	Payment in kind interest income:
	Non-control/Non-affiliate investments			176,321				121,084
	Affiliate investments			524,784				604,880
	Control investments			19,829				77,880
	Total interest from investments			28,799,566				26,377,435
	Interest from cash and cash equivalents			441,110				2,360,397
	Management fee income			101,090				663,632
	Dividend income:
	Non-control/Non-affiliate investments			369,276				127,689
	Control investments			752,370				903,439
	Total dividend from investments			1,121,646				1,031,128
	Structuring and advisory fee income			563,616				221,600
	Other income			142,196				(28,436	)
	Total investment income			31,169,224				30,625,756
	OPERATING EXPENSES
	Interest and debt financing expenses			14,061,404				12,372,030
	Base management fees			5,065,837				4,374,324
	Incentive management fees expense (benefit)			1,827,237				2,271,173
	Professional fees			626,850				649,899
	Administrator expenses			1,350,000				1,283,333
	Insurance			80,598				74,310
	Directors fees and expenses			125,103				118,500
	General and administrative			680,951				412,769
	Income tax expense (benefit)			46,080				(11,315	)
	Total operating expenses			23,864,060				21,545,023
	NET INVESTMENT INCOME			7,305,164				9,080,733
	REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS
	Net realized gain (loss) from investments:
	Non-control/Non-affiliate investments			2,057,105				52,691
	Net realized gain (loss) from investments			2,057,105				52,691
	Income tax (provision) benefit from realized gain on investments			(71,949	)			–
	Net change in unrealized appreciation (depreciation) on investments:
	Non-control/Non-affiliate investments			(18,387,829	)			478,796
	Affiliate investments			(1,515,830	)			139,577
	Control investments			3,439,596				3,109,340
	Net change in unrealized appreciation (depreciation) on investments			(16,464,063	)			3,727,713
	Net change in provision for deferred taxes on unrealized (appreciation) depreciation on investments			512,564				423,998
	Net realized and unrealized gain (loss) on investments			(13,966,343	)			4,204,402
	NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS		$	(6,661,179	)		$	13,285,135
	WEIGHTED AVERAGE – BASIC AND DILUTED EARNINGS (LOSS) PER COMMON SHARE		$	(0.41	)		$	0.84
	WEIGHTED AVERAGE COMMON SHARES OUTSTANDING – BASIC AND DILUTED			16,155,202				15,775,387

	Saratoga Investment Corp.
	Consolidated Statements of Operations
	(unaudited)
			For the six months ended
			August 31, 2026				August 31, 2025
	INVESTMENT INCOME
	Interest from investments
	Interest income:
	Non-control/Non-affiliate investments		$	52,686,744			$	49,162,112
	Affiliate investments			1,436,183				1,280,211
	Control investments			1,374,293				2,382,216
	Payment in kind interest income:
	Non-control/Non-affiliate investments			349,612				289,313
	Affiliate investments			1,028,394				1,189,629
	Control investments			39,415				77,880
	Total interest from investments			56,914,641				54,381,361
	Interest from cash and cash equivalents			995,496				4,387,608
	Management fee income			646,078				1,368,807
	Dividend income:
	Non-control/Non-affiliate investments			369,276				689,872
	Control investments			1,531,222				1,339,857
	Total dividend from investments			1,900,498				2,029,729
	Structuring and advisory fee income			1,219,979				485,975
	Other income			269,457				290,893
	Total investment income			61,946,149				62,944,373
	OPERATING EXPENSES
	Interest and debt financing expenses			27,711,687				24,823,895
	Base management fees			10,035,890				8,707,656
	Incentive management fees expense (benefit)			3,719,298				4,807,686
	Professional fees			1,158,086				1,349,099
	Administrator expenses			2,700,000				2,533,333
	Insurance			161,196				148,620
	Directors fees and expenses			251,103				250,000
	General and administrative			1,281,217				1,058,180
	Income tax expense (benefit)			29,521				43,139
	Total operating expenses			47,047,998				43,721,608
	NET INVESTMENT INCOME			14,898,151				19,222,765
	REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS
	Net realized gain (loss) from investments:
	Non-control/Non-affiliate investments			1,568,957				2,315,675
	Control investments			638,355				638,355
	Net realized gain (loss) from investments			2,207,312				2,954,030
	Income tax (provision) benefit from realized gain on investments			(71,949	)			–
	Net change in unrealized appreciation (depreciation) on investments:
	Non-control/Non-affiliate investments			(30,315,013	)			850,944
	Affiliate investments			(3,934,442	)			93,633
	Control investments			2,608,261				3,727,113
	Net change in unrealized appreciation (depreciation) on investments			(31,641,194	)			4,671,690
	Net change in provision for deferred taxes on unrealized (appreciation) depreciation on investments			1,043,388				368,913
	Net realized and unrealized gain (loss) on investments			(28,462,443	)			7,994,633
	NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS		$	(13,564,292	)		$	27,217,398
	WEIGHTED AVERAGE – BASIC AND DILUTED EARNINGS (LOSS) PER COMMON SHARE		$	(0.84	)		$	1.75
	WEIGHTED AVERAGE COMMON SHARES OUTSTANDING – BASIC AND DILUTED			16,203,415				15,560,114

Supplemental Information Regarding Adjusted Net Investment Income, Adjusted Net Investment Income Yield and Adjusted Net Investment Income per Share

On a supplemental basis, Saratoga Investment provides information relating to adjusted net investment income, adjusted net investment income yield and adjusted net investment income per share, which are non-GAAP measures. These measures are provided in addition to, but not as a substitute for, net investment income, net investment income yield and net investment income per share, respectively. These non-GAAP measures should only be used to evaluate the Company’s results of operations in conjunction with their corresponding GAAP measures. Adjusted net investment income represents net investment income excluding any capital gains incentive fee expense or reversal attributable to realized and unrealized gains. The management agreement with the Company’s advisor provides that a capital gains incentive fee is determined and paid annually with respect to cumulative realized capital gains (but not unrealized capital gains) to the extent such realized capital gains exceed realized and unrealized losses for such year. In addition, Saratoga Investment accrues, but does not pay, a capital gains incentive fee in connection with any unrealized capital appreciation, as appropriate. All capital gains incentive fees are presented within net investment income within the Consolidated Statements of Operations, but the associated realized and unrealized gains and losses that these incentive fees relate to, are excluded. As such, Saratoga Investment believes that adjusted net investment income, adjusted net investment income yield and adjusted net investment income per share is a useful indicator of operations exclusive of any capital gains incentive fee expense or reversal attributable to gains. In addition, adjusted net investment income in fiscal 2027 also excludes the interest expense and amortization of deferred financing costs related to the 8.0% 2031 Notes during the period while the 6.0% 2027 Notes were already issued and outstanding. This expense is directly attributable to the issuance of the 8.0% 2031 Notes and the subsequent repayment of the 6.0% 2027 Notes, and this double interest expense is deemed to be non-recurring in nature and not representative of the operations of Saratoga Investment. The presentation of this additional information is not meant to be considered in isolation or as a substitute for financial results prepared in accordance with GAAP, and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles.  Pursuant to the requirements of Item 10(e) of Regulation S-K, the following table provides a reconciliation of net investment income to adjusted net investment income, net investment income yield to adjusted net investment income yield and net investment income per share to adjusted net investment income per share for the three and six months ended August 31, 2026 and 2025.

	For the Three Months Ended
	August 31, 2026	August 31, 2025
Net Investment Income	$7,305,164	$9,080,733
Changes in accrued capital gains incentive fee expense/ (reversal)	–	–
Interest on 8.0% 2031 Notes	122,810	–
Adjusted net investment income	$7,427,974	$9,080,733
Net investment income yield	8.0%	9.0%
Changes in accrued capital gains incentive fee expense/ (reversal)	–	–
Interest on 8.0% 2031 Notes	0.1%	–
Adjusted net investment income yield (1)	8.1%	9.0%
Net investment income per share	$0.45	$0.58
Changes in accrued capital gains incentive fee expense/ (reversal)	–	–
Interest on 8.0% 2031 Notes	$0.01	–
Adjusted net investment income per share (2)	$0.46	$0.58

(1)   Adjusted net investment income yield is calculated as adjusted net investment income divided by average net asset value.
(2)   Adjusted net investment income per share is calculated as adjusted net investment income divided by weighted average common shares outstanding.

	For the Six Months Ended
	August 31, 2026	August 31, 2025
Net Investment Income	$14,898,151	$19,222,765
Changes in accrued capital gains incentive fee expense/ (reversal)	–	–
Interest on 8.0% 2031 Notes	122,810	–
Adjusted net investment income	$15,020,961	$19,222,765
Net investment income yield	7.9%	9.6%
Changes in accrued capital gains incentive fee expense/ (reversal)	–	–
Interest on 8.0% 2031 Notes	0.1%	–
Adjusted net investment income yield (3)	8.0%	9.6%
Net investment income per share	$0.92	$1.24
Changes in accrued capital gains incentive fee expense/ (reversal)	–	–
Interest on 8.0% 2031 Notes	$0.01	–
Adjusted net investment income per share (4)	$0.93	$1.24

(3)   Adjusted net investment income yield is calculated as adjusted net investment income divided by average net asset value.
(4)   Adjusted net investment income per share is calculated as adjusted net investment income divided by weighted average common shares outstanding.