UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

 

Date of Report (Date of earliest event reported):  February 10, 2012

 

Medley capital corporation

(Exact name of registrant as specified in its charter)

 

Delaware 1-35040 27-4576073
(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation)   Identification No.)

 

375 Park Avenue, 33rd Floor

New York, NY 10152

(Address of principal executive offices)(Zip Code)

 

 

Registrant’s telephone number, including area code: (212) 759-0777

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 
 

ITEM 1.01. Entry into a Material Definitive Agreement.

 

Additional Commitment for Revolving Facility

 

On February 10, 2012, Medley Capital Corporation (the “Company”) entered into an Incremental Assumption Agreement (“Incremental Assumption Agreement”) with MOF I BDC LLC, as subsidiary guarantor, ING Capital LLC, as administrative agent (the “Administrative Agent”), and Credit Suisse AG, as assuming lender (“Credit Suisse”), whereby Credit Suisse agreed to provide a commitment of $15 million, pursuant to the Senior Secured Revolving Credit Agreement, dated as of August 4, 2011 (the “Credit Agreement”), among the Company, the Administrative Agent and certain lenders party thereto from time to time. A copy of the Incremental Assumption Agreement is attached hereto as Exhibit 10.1 and is incorporated by reference herein. The Credit Agreement was previously filed as Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on August 9, 2011.

 

On February 10, 2012, the Company also issued a press release regarding the commitment, which is attached hereto as Exhibit 99.1, and incorporated by reference herein.

 

ITEM 9.01. Financial Statements and Exhibits.

 

(d) Exhibits.

 

  Exhibit No.    Description

 

  10.1     Incremental Assumption Agreement, dated as of February 10, 2012, among Medley Capital Corporation, as Borrower, MOF I BDC LLC, as Subsidiary Guarantor, ING Capital LLC, as Administrative Agent, and Credit Suisse AG, as Assuming Lender

 

  99.1   Press Release, dated February 10, 2012

 

 
 

Signatures

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  MEDLEY CAPITAL CORPORATION
     
     
Date: February 10, 2012 /s/ Richard T. Allorto, Jr.  
  Name: Richard T. Allorto, Jr.  
  Title: Chief Financial Officer  

 

 

 

 

 

 

 
 

EXHIBIT INDEX

 

Exhibit No.   Description

 

10.1   Incremental Assumption Agreement, dated as of February 10, 2012, among Medley Capital Corporation, as Borrower, MOF I BDC LLC, as Subsidiary Guarantor, ING Capital LLC, as Administrative Agent, and Credit Suisse AG, as Assuming Lender

 

99.1   Press Release, dated February 10, 2012