NEW YORK, Feb. 22, 2017 (GLOBE NEWSWIRE) -- Medley Management Inc. (“Medley”) (NYSE:MDLY), a credit-focused asset
management firm, today announced that Medley LLC, its operating company, has closed its public offering of an additional
$34,500,000 in aggregate principal amount of its 7.25% notes due 2024, which includes the exercise in full of the underwriters’
option to purchase additional notes, at a public offering price of $25.25 for each $25.00 principal amount of notes, for gross
proceeds of $34,845,000. The notes mature on January 30, 2024. Interest will be payable quarterly. Medley LLC intends
to use the net proceeds from the offering to repay the remaining outstanding indebtedness under Medley LLC’s syndicated term loan
and for general corporate purposes.
The notes are listed on the New York Stock Exchange under the trading symbol “MDLQ”. FBR Capital Markets &
Co., Incapital LLC, William Blair & Company, Ladenburg Thalmann & Co. Inc., JonesTrading Institutional Services LLC and Compass
Point Research & Trading, LLC acted as joint book-running managers. Boenning & Scattergood, Inc., National Securities
Corporation, Maxim Group LLC and Wedbush Securities Inc. acted as co-managers.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be
any sale of, the notes referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.
This offering is being made solely by means of a written prospectus, which may be obtained from any of the
following investment banks: FBR Capital Markets & Co., Attention: Syndicate Prospectus Department, 1300 North 17th
Street, Suite 1400, Arlington, VA 22209, or by calling FBR Capital Markets & Co. at (703) 312-9726 or by emailing FBR Capital
Markets & Co. at prospectuses@fbr.com; or Incapital LLC, Attention: Capital Markets, 1800 North Military Trail, Suite 400, Boca
Raton, FL 33431, or by emailing Incapital LLC at prospectus_requests@incapital.com; or William Blair & Company, L.L.C.,
Attention: Clancey Burson, 222 W Adams, 29th floor, Chicago, IL 60606; or Ladenburg Thalmann & Co. Inc., 570 Lexington
Avenue, 11th Floor, New York, NY 10022, or by emailing Ladenburg Thalmann & Co. Inc. at prospectus@ladenburg.com; or
JonesTrading Institutional Services LLC, 757 3rd Avenue, 23rd Floor, New York, NY 10017, or by calling
JonesTrading Institutional Services LLC toll-free at (800) 423-5933; or Compass Point Research & Trading, LLC, 1055 Thomas
Jefferson Street, NW, Suite 303, Washington, DC 20007, or by emailing Compass Point Research & Trading, LLC at syndicate@compasspointllc.com; or Boenning & Scattergood, Inc., Attention: Michael Galantino,
Managing Director, 200 Barr Harbor Dr. #300, Conshohocken, PA 19428, or by calling Boenning & Scattergood, Inc. toll-free at (800)
883-1212; or National Securities Corporation, Attention: Marguerite Rogers, 410 Park Avenue, 14th floor, New York, NY
10022; or Maxim Group LLC, Attention: Eileen Citarrella, 405 Lexington Avenue, 2nd Floor, New York, NY 10174 or by
emailing Maxim Group LLC at syndicate@maximgrp.com; or Wedbush Securities Inc., 1000 Wilshire Blvd, Los Angeles, CA 90017,
or by emailing syndicate@wedbush.com, or by calling (213) 688-8050. A copy of the prospectus may also be obtained at no
charge at the Securities and Exchange Commission’s website at www.sec.gov.
ABOUT MEDLEY
Medley is a credit-focused asset management firm offering yield solutions to retail and institutional investors.
Medley's national direct origination franchise, with over 85 people, is a premier provider of capital to the middle market in the
U.S. As of December 31, 2016, Medley had in excess of $5.3 billion of assets under management in two business development
companies, Medley Capital Corporation (NYSE:MCC) and Sierra Income Corporation, as well as private investment
vehicles. Over the past 15 years, Medley has provided capital to over 350 companies across 35 industries in North America. For
additional information, please visit Medley Management Inc. at www.mdly.com.
Medley LLC, the operating company of Medley Management Inc., has outstanding bonds which trade on the NYSE under
the symbols (NYSE:MDLX) and (NYSE:MDLQ). Medley Capital Corporation (NYSE:MCC) has outstanding bonds which trade on the NYSE under
the symbols (NYSE:MCQ), (NYSE:MCV), and (NYSE:MCX).
FORWARD-LOOKING STATEMENTS
Statements included herein may contain “forward-looking statements”. Statements other than statements of
historical facts included in this press release may constitute forward-looking statements and are not guarantees of future
performance or results and involve a number of assumptions, risks and uncertainties, which change over time. Actual results may
differ materially from those anticipated in any forward-looking statements as a result of a number of factors, including those
described from time to time in filings by Medley and Medley LLC with the Securities and Exchange Commission. Except as required by
law, Medley and Medley LLC undertake no duty to update any forward-looking statement made herein. All forward-looking statements
speak only as of the date of this press release.
Investor Relations Contact:
Sam Anderson
212-759-0777
Head of Capital Markets & Risk Management
Medley Management Inc.
Medley LLC
Media Contact:
Liz Bruce
212-498-9197
Fitzroy Communications