August 16, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Saratoga Investment Corp. (NYSE: SAR), a business development firm, has effected a one-for-ten reverse stock split of its outstanding common stock. Saratoga's common shares have traded on a post-split basis since the open on August 13, under the NYSE symbol SAR, and have been assigned a new CUSIP number 80349A 208.

As a result of the reverse stock split, every ten shares of Saratoga common stock were converted into one share of common stock.

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

New York-based Saratoga Investment 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.

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