Medley Capital plans stock sale; proceeds finance middle-market loans

By Toni Weeks

San Luis Obispo, Calif., Jan. 30 - Medley Capital Corp. said in a 497 filing with the Securities and Exchange Commission that it plans to offer common shares in a public offering of stock.

The non-diversified, closed-end management investment company seeks to generate current income and capital appreciation by lending directly to privately held middle-market companies for acquisitions, growth or refinancing. The portfolio generally consists of senior secured first-lien loans and senior secured second-lien loans.

Goldman Sachs & Co., Barclays, Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC are the joint bookrunning managers for the offering.

Brook Taube, Seth Taube and Andrew Fentress comprise the company's portfolio management team.

The company plans to sell 6 million shares with an additional 900,000 shares to cover over-allotments. The last reported sale price of common shares (NYSE: MCC) on Jan. 30 was $14.34.

MCC Advisors LLC serves as the investment manager and has its corporate offices in New York.

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