Medley Capital Corporation : Medley Capital Corporation Announces the Pricing
of the Offering of 4 Million Shares of its Common Stock
NEW YORK, NY (April 9, 2013) - Medley Capital Corporation (the "Company")
(NYSE: MCC) announced the pricing of the registered public offering of
4,000,000 shares of its common stock at a public offering price of $14.70 per
share. The Company has granted the underwriters a 30-day option to purchase up
to an additional 600,000 shares sold at the public offering price. The
Company intends to use the net proceeds from the offering to repay a portion
of the outstanding indebtedness under its revolving credit facility, fund new
investment opportunities and for general corporate purposes.
Goldman, Sachs & Co., Barclays Capital Inc., Credit Suisse Securities (USA)
LLC and J.P. Morgan Securities LLC are acting as joint book-running managers.
BB&T Capital Markets, a division of BB&T Securities, LLC, Janney Montgomery
Scott LLC, Ladenburg Thalmann & Co. Inc. and Maxim Group LLC are acting as
Investors are advised to consider carefully the investment objective, risks
and charges and expenses of the Company before investing.
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 shares 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. A registration statement
relating to these securities was filed and has been declared effective by the
Securities and Exchange Commission.
This offering is being made solely by means of a written prospectus forming
part of the effective registration statement, which may be obtained from of
any of the following investment banks: Goldman, Sachs & Co., Attn: Prospectus
Department, 200 West Street, New York, NY 10282; Barclays Capital Inc., Attn:
Prospectus Department, c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717; Credit Suisse Securities (USA) LLC, Attention:
Prospectus Department, 11 Madison Avenue, New York, NY 10010; or J.P. Morgan,
c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New
York 11717 (Attn: Prospectus Department); or by calling Goldman, Sachs & Co.
at (866) 471-2526, sending a request via facsimile at (212) 902-9316, or by
emailing email@example.com; calling Barclays Capital Inc. at (888)
603-5847, or by emailing at firstname.lastname@example.org; calling Credit
Suisse Securities (USA) LLC at (800) 221-1037; or J.P. Morgan (866) 803-9204).
ABOUT MEDLEY CAPITAL CORPORATION
The Company is an externally-managed, non-diversified closed-end management
investment company that has filed an election to be treated as a business
development company under the Investment Company Act of 1940, as amended. The
Company's investment objective is to generate current income and capital
appreciation by lending directly to privately held middle market companies to
help these companies fund acquisitions, growth or refinancing. The Company is
a direct lender targeting private debt transactions ranging in size from $10
to $50 million to borrowers principally located in North America. The
Company's investment activities are managed by its investment adviser, MCC
Advisors LLC, which is an investment adviser registered under the Investment
Advisers Act of 1940, as amended.
ABOUT MCC ADVISORS LLC
MCC Advisors LLC, an affiliate of Medley LLC ("Medley"), is a registered
investment adviser under the Investment Advisers Act of 1940, as amended.
Medley specializes in credit investing, including direct private lending and
corporate credit related strategies and provides first lien, second lien and
unitranche term loans to lower middle-market and middle-market companies with
an investment size between $7-50 million. Medley will support acquisition and
growth financings, leveraged buyouts, management buyouts, bank debt
restructurings, CAPEX, Chapter 11 exit financing and DIP financing. Medley is
headquartered in New York with offices in San Francisco.
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
the Company with the Securities and Exchange Commission. Except as required by
law, the Company undertakes no duty to update any forward-looking statement
made herein. All forward-looking statements speak only as of the date of this
SOURCE: Medley Capital Corporation
Richard T. Allorto
This announcement is distributed by Thomson Reuters on behalf of Thomson
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: Medley Capital Corporation via Thomson Reuters ONE
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