Medley Capital Corporation (NYSE:MCC) Files An 8-K Entry into a Material Definitive Agreement

Medley Capital Corporation (NYSE:MCC) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01

Resignation of Jeffrey Tonkel as Class I Director
On August 19, 2020, Jeffrey Tonkel notified the Board that he was resigning voluntarily from the Board, effective August 19, 2020. In submitting his resignation, Mr. Tonkel did not express any disagreement on any matter relating to the Company’s operations, policies or practices.
Appointment of Howard Amster as Class I Director
On August 19, 2020, the Board appointed Howard Amster to the Board to fill the vacancy created by the resignation of Mr. Tonkel, effective August 19, 2020. Mr. Amster will serve as a Class I director for a term expiring at the 2021 Annual Meeting. As described in Item 1.01 above, the Company has agreed to nominate Mr. Amster for election at the 2021 Annual Meeting. In addition, the Board appointed Mr. Amster to the Special Committee of the Board (the “Special Committee”). Other than the Standstill Agreement described in Item 1.01, there is no arrangement or understanding with any other person to which Mr. Amster was appointed as a member of the Board. There are no current or proposed transactions between the Company and Mr. Amster or his immediate family members which would require disclosure under Item 404(a) of Regulation S-K promulgated by the Securities and Exchange Commission.
Mr. Amster will be compensated for his service on the Board and the Special Committee in accordance with the Company’s compensation practices for independent directors.
Medley Capital Corp Exhibit
EX-10.1 2 a101standstillagreement.htm EX-10.1 DocumentEXHIBIT 10.1
Execution VersionSTANDSTILL AGREEMENTThis Standstill Agreement (this “Agreement”),…
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About Medley Capital Corporation (NYSE:MCC)

Medley Capital Corporation is a non-diversified closed-end management investment company. The Company’s investment objective is to generate current income and capital appreciation by lending directly to privately-held middle market companies, primarily through directly originated transactions to help these companies expand their business, refinance and make acquisitions. Its investment portfolio includes senior secured first lien term loans, senior secured second lien term loans, unitranche, senior secured first lien notes, subordinated notes and warrants and minority equity securities. It may invest up to 100% of its assets in securities acquired directly from issuers in privately negotiated transactions. Its portfolio of investments includes industries, including banking, finance, insurance and real estate; construction and building; healthcare and pharmaceuticals; beverage and food, and telecommunications. MCC Advisors LLC is the Company’s investment advisor.

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