Sierra Income terminated its merger with Medley Capital and Medley Management.

Sierra Income, a non-traded business development company, terminated its merger with Medley Capital, a closed-end, externally managed business development company, and Medley Management, an alternative asset management firm offering yield solutions to retail and institutional investors. In determining to terminate the deal, Sierra considered a number of factors, including, among other factors, changes in the relative valuation of the company and Sierra, the changed circumstances and the unpredictable economic conditions resulting from the global health crisis caused by the coronavirus pandemic, and the uncertainty regarding the parties' ability to satisfy the conditions to closing the MDLY Merger in a timely manner.