NEW YORK, Jan. 11, 2021 /PRNewswire/ -- Medley LLC (the
"Company") announced today that the Company has engaged B. Riley
Securities Inc. ("B. Riley") as its investment banking advisor to
assist in analyzing various strategic financial alternatives to
address its capital structure, including strategic and financing
alternatives to restructure its indebtedness and other contractual
obligations. Medley LLC has outstanding unsecured bonds which trade
on the NYSE under the symbols (NYSE: MDLX) and (NYSE: MDLQ).
B. Riley Securities is an affiliate of B. Riley Financial,
Inc.
There can be no assurance that this review will result in any
particular outcome.
About Medley
Medley is an alternative asset management firm offering yield
solutions to retail and institutional investors. Medley's
national direct origination franchise is a premier provider of
capital to the middle market in the U.S. As of September 30, 2020, Medley had $3.4 billion of assets under management in two
business development companies, Medley Capital Corporation (NYSE:
MCC) and Sierra Income Corporation, and several private investment
vehicles. Over the past 18 years, Medley has provided capital to
over 400 companies across 35 industries in North America.(1)
Forward-Looking Statements
This press release contains "forward-looking" statements. Such
forward-looking statements reflect current views with respect to
future events and financial performance. Statements that include
the words "should," "would," "expect," "intend," "plan," "believe,"
"project," "anticipate," "seek," "will," and similar statements of
a future or forward-looking nature identify forward-looking
statements in this material or similar statements for purposes of
the U.S. federal securities laws or otherwise. Because
forward-looking statements include risks and uncertainties, actual
results may differ materially from those expressed or implied.
Important factors that could cause actual results to differ
materially from the expectations reflected in the forward-looking
statements include, but are not limited to: those discussed in the
Company's filings with the Securities and Exchange Commission;
and uncertainties associated with the impact from the ongoing
COVID-19 pandemic.
The foregoing review of important factors should not be
construed as exhaustive and should be read in conjunction with the
other cautionary statements that are included in the "Risk Factors"
and other sections of the Company's most recent Annual Report on
Form 10-K and most recent Quarterly Reports on Form 10-Q. The
forward-looking statements in this press release represent the
Company's views as of the date of hereof. The Company anticipates
that subsequent events and developments will cause its views to
change. However, while the Company may elect to update these
forward-looking statements at some point in the future, the Company
does not have any current intention of doing so except to the
extent required by applicable law. You should, therefore, not rely
on these forward-looking statements as representing the Company's
views as of any date subsequent to the date of this material.
Available Information
Medley LLC's filings with the Securities and Exchange
Commission, press releases, earnings releases and other financial
information are available at www.mdly.com.
Investor Contact:
Sam Anderson
Head of Capital Markets & Risk Management
Medley LLC
212-759-0777
Media Contact:
Jonathan Gasthalter/Nathaniel
Garnick
Gasthalter & Co. LP
212-257-4170
1 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). Medley Capital Corporation represented
$0.3 billion of the Company's total
assets under management as of September 30,
2020 and these assets were internalized at Medley Capital
Corporation as of January 1,
2021.
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SOURCE Medley LLC