03 10 2014

Medley's $150 million Initial Public Offering

Simpson Thacher represented Medley Management Inc. in connection with its initial public offering of 6,000,000 shares of Class A common stock at a public offering price of $18.00 per share. Medley’s Class A common stock began trading on the New York Stock Exchange under the ticker symbol “MDLY” on September 24, 2014.


Medley Management Inc. today announced the pricing of an initial public offering of 6,000,000 shares of its Class A common stock at $18.00 per share. The shares will be listed on the New York Stock Exchange and trade under the ticker symbol "MDLY" beginning tomorrow, September 24, 2014. The underwriters have a 30-day option to purchase up to an additional 900,000 shares at the initial public offering price, less the underwriting discount. The offering is expected to close on September 29, 2014, subject to customary closing conditions.  Goldman, Sachs & Co. and Credit Suisse Securities (USA) LLC are serving as lead bookrunners and representatives of the underwriters for the offering. Medley is a rapidly growing asset management firm with approximately $3.3 billion of assets under management as of June 30, 2014. Medley focuses on credit-related investment strategies, primarily originating senior secured loans to private middle-market companies in the United States that have revenues between $50 million and $1 billion. The Simpson Thacher team included Josh Bonnie, Edgar Lewandowski, Brian E. Rosenzweig, Alejandro de Ramon-Laca and Chinh Vo (Capital Markets); Ellen Smiley (Public Company Advisory Practice); Marcy Geller and Noah Metz (Tax); and David Rubinsky, Jeannine McSweeney and Joo Hyun Lee (Executive Compensation and Employee Benefits). James Rapp and Alan Langer also provided invaluable assistance. Involved fees earner: Joshua Bonnie - Simpson Thacher & Bartlett; Edgar Lewandowski - Simpson Thacher & Bartlett; Brian Rosenzweig - Simpson Thacher & Bartlett; Alejandro de Ramon-Laca - Simpson Thacher & Bartlett; Chinh Vo - Simpson Thacher & Bartlett; Ellen Smiley - Simpson Thacher & Bartlett; Marcy Geller - Simpson Thacher & Bartlett; Noah Metz - Simpson Thacher & Bartlett; David Rubinsky - Simpson Thacher & Bartlett; Jeannine McSweeney - Simpson Thacher & Bartlett; Joo Hyun Lee - Simpson Thacher & Bartlett;

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