Medley Management Inc. Announces Re-Opening of Public Offering of Medley LLC Notes Due 2026

NEW YORK, Oct. 13, 2016 -- Medley Management Inc. (“Medley”) (NYSE:MDLY), a credit-focused asset management firm, today announced that Medley LLC, its operating company, re-opened its registered public offering of 6.875% notes due 2026. The notes are listed on the New York Stock Exchange and trade under the trading symbol “MDLX“. Interest will be payable quarterly beginning on November 15, 2016.  The purchase price of the Notes includes accrued interest on the Notes from August 9, 2016 to, but not including, the date of delivery. Medley LLC intends to use the net proceeds from the offering to repay a portion of the outstanding indebtedness under Medley LLC’s syndicated term loan.

FBR Capital Markets & Co., Incapital LLC, Ladenburg Thalman & Co. Inc., Compass Point Research & Trading, LLC, William Blair & Company, L.L.C., and JonesTrading Institutional Services acted as joint book-running managers. National Securities Corporation and Maxim Group LLC acted as co-managers.

A registration statement relating to these notes has been filed with the Securities and Exchange Commission but has not yet become effective. These notes may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

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 17^th 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 [email protected]; or Incapital LLC, Attention: Capital Markets, 1800 North Military Trail, Suite 400, Boca Raton, FL 33431 or by emailing Incapital LLC at [email protected]; or Ladenburg Thalman & Co. Inc., 570 Lexington Avenue, 11^th Floor, New York, NY 10022, or by emailing Ladenburg Thalman & Co. Inc. at [email protected]; 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 [email protected]; or William Blair & Company, L.L.C., Attention: Clancey Burson, 222 W Adams, 29^th floor, Chicago, IL 60606; or JonesTrading Institutional Services LLC, 780 3^rd Avenue, New York, NY 10017 or by calling JonesTrading Institutional Services LLC toll-free at (800) 423-5933; or National Securities Corporation, Attention: Kim E. Addarich, 410 Park Avenue, 14^th floor, New York, NY 10022; or Maxim Group LLC, Attention: Eileen Citarrella, 405 Lexington Avenue, 2^nd Floor, New York, NY 10174 or by emailing Maxim Group LLC at [email protected].  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 80 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) and Sierra Income Corporation, as well as private investment vehicles. Over the past 14 years, we have provided in excess of $6 billion of capital to over 300 companies across 35 industries in North America.

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
Head of Capital Markets & Risk Management
212-759-0777
Medley Management Inc.
Medley LLC

Media Contact:
Liz Bruce
212-498-9197
Fitzroy Communications

Medley Management Inc.