Daily News: August 27, 2012

Medley Capital Closes Offering of Common Stock

Medley Capital Corporation announced the closing of its registered public offering of 5.75 million shares of its common stock at a public offering price of $12.95 per share, which includes the 750,000 shares issued upon full exercise of the underwriters’ option to purchase additional shares. The company raised approximately $71.7 million in net proceeds after deducting underwriting discounts and commissions and estimated offering expenses. The company intends to use the net proceeds from the offering to repay a portion of the outstanding indebtedness under its credit facility.

Goldman, Sachs, Barclays Capital, Credit Suisse Securities (USA) and UBS Investment Bank acted as joint bookrunning managers. BB&T Capital Markets, a division of Scott & Stringfellow, Gilford Securities, Janney Montgomery Scott, Ladenburg Thalmann & Co., JMP Securities and Maxim Group acted as co-managers.

The company is a direct lender targeting private debt transactions ranging in size from $10 million to $50 million to borrowers principally located in North America.

MCC Advisors LLC, an affiliate of 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.