Sierra Income Corporation Decrease in Public Offering Price
A committee of the board of directors (the “Board”) of Sierra Income Corporation (“SIC”) has approved a decrease in its public
offering price from $8.15 per share to $8.00 per share.
The decrease in SIC’s public offering price is effective as of SIC’s May 11, 2018 closing and first applied to subscriptions
received from April 6, 2018 through May 10, 2018. The change in offering price reflects the updated NAV per share.
If SIC continues to experience underlying portfolio fluctuations, the Board may further increase or decrease the per share
offering price of its shares of common stock for its future weekly closings, pursuant to SIC’s pricing policy included in its
prospectus which requires a price update if NAV per share fluctuates more than 2.5% from net offering price per share. SIC has not
yet determined that a further adjustment to the newly-established offering price of $8.00 per share will be necessary. In the event
SIC determines to adjust its public offering price, a separate announcement will be issued.
About Sierra Income Corporation
Sierra is a non-traded business development company that invests primarily in first lien senior secured debt, second lien
secured debt and, to a lesser extent, subordinated debt of middle market companies in a broad range of industries with annual
revenue between $50 million and $1 billion. Sierra’s investment objective is to generate current income, and to a lesser extent,
long-term capital appreciation. Sierra is externally managed by SIC Advisors LLC, which is an investment adviser registered under
the Investment Advisers Act of 1940, as amended. For additional information, please visit Sierra Income Corporation at www.sierraincomecorp.com.
About SIC Advisors LLC
SIC Advisors LLC is an affiliate of Medley Management Inc. (NYSE: MDLY) (“Medley”). Medley is an alternative asset management
firm offering yield solutions to retail and institutional investors. Medley’s national direct origination franchise, with over 75
people, is a premier provider of capital to the middle market in the U.S. Medley has over $5 billion of assets under management in
two business development companies, Medley Capital Corporation (NYSE: MCC) (TASE: MCC) and Sierra Income Corporation, a credit
interval fund, Sierra Total Return Fund (NASDAQ: SRNTX) and several private investment vehicles. Over the past 15 years, we have
provided capital to over 400 companies across 35 industries in North America1. 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 New York Stock Exchange
under the symbols (NYSE:MDLX) and (NYSE:MDLQ). Medley Capital Corporation is dual-listed on the New York Stock Exchange (NYSE:MCC)
and the Tel Aviv Stock Exchange (TASE: MCC) and has outstanding bonds which trade on both the New York Stock Exchange under the
symbols (NYSE:MCV), (NYSE:MCX) and the Tel Aviv Stock Exchange under the symbol (TASE: MCC.B1).
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws and regulations.
These forward-looking statements are identified by their use of terms and phrases such as "anticipate," "believe," "continue,"
"could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "should," "will" and other similar terms and phrases,
including references to assumptions and forecasts of future results. Forward-looking statements are not guarantees of future
performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ
materially from those anticipated at the time the forward-looking statements are made. Although Sierra believes the expectations
reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations
will be attained or that any deviation will not be material. Sierra undertakes no obligation to update any forward-looking
statement contained herein to conform the statement to actual results or changes in Sierra’s expectations.
This is not an offer or a solicitation of an offer to buy any securities of Sierra Income Corporation. Such an offer can be
made only by means of a prospectus. A copy of the prospectus can be obtained by visiting www.sierraincomecorp.com . This is a speculative security and as such, involves a high degree of
risk.
1 Medley Management Inc. is the parent company of Medley LLC and several registered investment advisors
(collectively,”Medley”). Assets under management refers to assets of our funds, which represents the sum of the net asset value of
such funds, the drawn and undrawn debt (at the fund level, including amounts subject to restrictions) and uncalled committed
capital (including commitments to funds that have yet to commence their investment periods). Assets under management are as of
December 31, 2017.
Investor Relations Contact:
Medley Management Inc.
Sam Anderson, 212-759-0777
Head of Capital Markets & Risk
or
Media Contact:
Teneo Holdings LLC
Erin Clark, 646-214-8355
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