Proceeds slated to pay down some outstanding loans under facility
By Devika Patel
Knoxville, Tenn., Aug. 24 - Medley Capital Corp. said it completed a $74.46 million public offering of stock. The offering was announced Aug. 21 and priced for $64.75 million with a $9.71 million greenshoe on Aug. 22.
The company sold 5.75 million common shares at $12.95 per share. Of the shares, 750,000 were part of the fully exercised greenshoe. The price per share reflects a 0.78% premium to the Aug. 21 closing share price of $12.85.
Goldman Sachs & Co., Barclays, Credit Suisse Securities (USA) LLC and UBS Investment Bank were the bookrunning managers. The co-managers were Janney Montgomery Scott LLC, BB&T Capital Markets, a division of Scott & Stringfellow, LLC, Ladenburg Thalmann & Co. Inc., Gilford Securities Inc., JMP Securities LLC and Maxim Group LLC.
Proceeds will be used to repay some outstanding debt under the company's credit facility.
Medley Capital is a closed-end management investment company based in New York that invests in privately negotiated debt and equity securities of middle-market companies.
| Issuer: | Medley Capital Corp.
|
| Issue: | Common stock
|
| Amount: | $74,462,500 (including $9,712,500 greenshoe)
|
| Shares: | 5.75 million
|
| Price: | $12.95
|
| Warrants: | No
|
| Bookrunners: | Goldman Sachs & Co., Barclays, Credit Suisse Securities (USA) LLC and UBS Investment Bank
|
| Announcement date: | Aug. 21
|
| Pricing date: | Aug. 22
|
| Settlement date: | Aug. 24
|
| Stock symbol: | NYSE: MCC
|
| Stock price: | $12.85 at close Aug. 21
|
| Market capitalization: | $225.85 million
|
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