Sierra Income Corporation Announces Q1 2021 Distributions

Rhea-AI Summary

Sierra Income Corporation has announced monthly distributions of $0.010 per share for January, February, and March 2021. The record dates are January 28, February 25, and March 30, with payment dates on January 29, February 26, and March 31, respectively. Sierra, a non-traded business development company, focuses on investing in senior secured debt of middle-market companies. Medley Management Inc., affiliated with Sierra, manages assets of $3.4 billion and aims to provide capital to the middle market.

Positive

• Declared monthly distributions of $0.010 per share for January, February, and March 2021.
• Focus on investing in first and second lien secured debt of middle-market companies.

Negative

• None.

NEW YORK, Jan. 22, 2021 /PRNewswire/ -- Sierra Income Corporation ("Sierra" or the "Company") today announced that its Board of Directors declared a series of monthly distributions for January, February, and March 2021 of $0.010 per share on January 21, 2021. Stockholders of record as of each respective record date will be entitled to receive the distribution. Below are the details for each respective distribution:

Amount Per Share	Record Date	Payment Date
$0.010	January 28, 2021	January 29, 2021
$0.010	February 25, 2021	February 26, 2021
$0.010	March 30, 2021	March 31, 2021

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 is a premier provider of capital to the middle market in the U.S. As of September 30^th 2020, Medley had $3.4 billion of assets under management in two business development companies and several private investment vehicles. Over the past 18 years, we have 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 New York Stock Exchange under the symbols (NYSE:MDLX) and (NYSE:MDLQ).

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. These forward-looking statements are made based on various underlying assumptions and are subject to numerous uncertainties and risks, including, without limitation: Sierra's continued effectiveness in investing and managing capital; adverse changes in the economy generally or in the industries in which Sierra's portfolio companies operate; uncertainties associated with the impact from the COVID-19 pandemic, including its impact on the global and U.S. capital markets, the global and U.S. economy, the operational and financial performance of our portfolio companies, and liquidity; and such other factors described under the caption "Risk Factors" included in Sierra's filings with the Securities and Exchange Commission (www.sec.gov). 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.

Investor Relations Contact:
Sam Anderson
Head of Capital Markets & Risk Management
Medley Management Inc.
212-759-0777

Media Contact:
Jonathan Gasthalter/Nathaniel Garnick
Gasthalter & Co. LP
212-257-4170

¹ Medley Management Inc. is the parent company of Medley LLC and several registered investment advisers (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). One of the business development companies advised by Medley internalized on January 1, 2021 and its $0.3 billion of assets as of September 30, 2020 are no longer under Medley's management.

 

 

View original content:http://www.prnewswire.com/news-releases/sierra-income-corporation-announces-q1-2021-distributions-301213430.html

SOURCE Sierra Income Corporation

FAQ

What are the distribution dates for MDLX, MDLQ, and MDLY in Q1 2021?

The distribution dates are January 28, February 25, and March 30, 2021.

What is the amount per share for Sierra Income Corporation's distributions?

The amount per share declared is $0.010 for each month.

How much in assets does Medley Management Inc. manage?

Medley Management Inc. manages $3.4 billion in assets.

What types of investments does Sierra Income Corporation primarily focus on?

Sierra invests in first lien senior secured debt and second lien secured debt of middle-market companies.

When will Sierra Income Corporation's Q1 2021 payments be made to shareholders?

Payments will be made on January 29, February 26, and March 31, 2021.