Sierra Income Corporation Decrease in Public Offering Price
December 07 2017 - 5:52PM
Business Wire
A committee of the board of directors (the “Board”) of Sierra
Income Corporation (“SIC”) has approved a decrease in its public
offering price from $8.55 per share to $8.35 per share.
The decrease in SIC’s public offering price is effective as of
SIC’s December 8, 2017 weekly closing and first applied to
subscriptions received from December 1, 2017 through December 7,
2017. The change in offering price reflects the updated NAV per
share.
If SIC continues to experience underlying portfolio
fluctuations, the Board may further increase or decrease the per
share offering price of its shares of common stock for its future
weekly closings, pursuant to SIC’s pricing policy included in its
prospectus which requires a price update if NAV per share
fluctuates more than 2.5% from net offering price per share. SIC
has not yet determined that a further adjustment to the
newly-established offering price of $8.35 per share will be
necessary. In the event SIC determines to adjust its public
offering price, a separate announcement will be issued.
About Sierra Income Corporation
Sierra is a non-traded business development company that invests
primarily in first lien senior secured debt, second lien secured
debt and, to a lesser extent, subordinated debt of middle market
companies in a broad range of industries with annual revenue
between $50 million and $1 billion. Sierra’s investment objective
is to generate current income, and to a lesser extent, long-term
capital appreciation. Sierra is externally managed by SIC Advisors
LLC, which is an investment adviser registered under the Investment
Advisers Act of 1940, as amended. For additional information,
please visit Sierra Income Corporation at
www.sierraincomecorp.com.
About SIC Advisors LLC
SIC Advisors LLC is an affiliate of Medley Management Inc.
(NYSE: MDLY, “Medley”). Medley is an alternative asset management
firm offering yield solutions to retail and institutional
investors. Medley’s national direct origination franchise, with
over 85 people, is a premier provider of capital to the middle
market in the U.S. As of September 30, 2017, Medley has over $5
billion of assets under management in two business development
companies, Medley Capital Corporation (NYSE:MCC) and Sierra Income
Corporation, a credit interval fund, Sierra Total Return Fund
(NASDAQ:SRNTX) and several private investment vehicles. Over the
past 15 years, Medley has provided capital to over 400 companies
across 35 industries in North America1. For additional information,
please visit Medley Management Inc. at www.mdly.com.
Medley LLC, the operating company of Medley Management Inc., has
outstanding bonds which trade on the NYSE under the symbol (NYSE:
MDLX) and (NYSE:MDLQ). Medley Capital Corporation (NYSE: MCC) has
outstanding bonds which trade on the NYSE under the symbols (NYSE:
MCV) and (NYSE: MCX).
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws and regulations. These
forward-looking statements are identified by their use of terms and
phrases such as "anticipate," "believe," "continue," "could,"
"estimate," "expect," "intend," "may," "plan," "predict,"
"project," "should," "will" and other similar terms and phrases,
including references to assumptions and forecasts of future
results. Forward-looking statements are not guarantees of future
performance and involve known and unknown risks, uncertainties and
other factors that may cause the actual results to differ
materially from those anticipated at the time the forward-looking
statements are made. Although Sierra believes the expectations
reflected in such forward-looking statements are based upon
reasonable assumptions, it can give no assurance that the
expectations will be attained or that any deviation will not be
material. Sierra undertakes no obligation to update any
forward-looking statement contained herein to conform the statement
to actual results or changes in Sierra’s expectations.
This is not an offer or a solicitation of an offer to buy any
securities of Sierra Income Corporation. Such an offer can be made
only by means of a prospectus. A copy of the prospectus can be
obtained by visiting www.sierraincomecorp.com. This is a
speculative security and as such, involves a high degree of
risk.
1 Medley Management Inc. is the parent company of Medley LLC and
several registered investment advisors (collectively, ”Medley”).
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).
Assets under management are as of September 30, 2017.
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version on businesswire.com: http://www.businesswire.com/news/home/20171207006297/en/
Investor Relations Contact:Medley Management Inc.Sam Anderson,
212-759-0777Head of Capital Markets & RiskorMedia Contact:Teneo
Holdings LLCErin Clark, 646-214-8355
Medley Management (NYSE:MDLY)
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