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Medley Capital: Merger Vote Postponed – BRIEF

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March 8, 2019 was supposed to be the day the three Medley entities, including publicly traded BDC Medley Capital (MCC) voted FOR or AGAINST the merger proposal. However, at the last minute – as we mentioned last night on the BDC Reporter’s Twitter Feed – the vote was postponed for another week – to March 15, 2019. In the briefest of explanations, MCC – in a press release which is attached – said the following: “The companies continue to work on the regulatory approval required to hold the vote”. We expect that NexPoint Capital, which is seeking to supplant Medley Management as the Investment Advisor of both MCC and Sierra Income, and the various dissident MCC institutional shareholders who’ve vocally opposed the merger, will have commentary about the last minute postponement in the days ahead. The BDC Reporter will keep our readers apprised of any notable developments.

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