Medley Management, Inc., the manager of non-traded BDC, Sierra Income Corporation, listed on the New York Stock Exchange today under the ticker symbol, “MDLY”. The company, which also manages traded BDC Medley Corporation, is seeking to raise $150 million.
Medley Management priced its IPO yesterday at $18 per share. The offering is for 6,000,000 shares of Class A common stock.
The shares listed today and at the time this article was written, the stock had traded at a high of $17.44 and a low of $16.25 with the latest price being $16.45.
Serving as lead bookrunners and representatives of the underwriters for the offering are Goldman, Sachs & Co. and Credit Suisse Securities (USA) LLC. The offering will be made only by means of a prospectus.
Founded in 2006, as of June 30, Medley Management had $3.3 billion in assets under management.
For more information, visit the SEC filing here.