NEW YORK, NY (December 7, 2017) – 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).