0000876661-21-001113.txt : 20210723 0000876661-21-001113.hdr.sgml : 20210723 20210723141415 ACCESSION NUMBER: 0000876661-21-001113 CONFORMED SUBMISSION TYPE: 25-NSE PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20210723 DATE AS OF CHANGE: 20210723 EFFECTIVENESS DATE: 20210723 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Medley LLC CENTRAL INDEX KEY: 0001536577 STANDARD INDUSTRIAL CLASSIFICATION: INVESTMENT ADVICE [6282] IRS NUMBER: 272437343 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 25-NSE SEC ACT: 1934 Act SEC FILE NUMBER: 001-37857 FILM NUMBER: 211110403 BUSINESS ADDRESS: STREET 1: 280 PARK AVENUE STREET 2: 6TH FLOOR EAST CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 212-759-0777 MAIL ADDRESS: STREET 1: 280 PARK AVENUE STREET 2: 6TH FLOOR EAST CITY: NEW YORK STATE: NY ZIP: 10017 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: NEW YORK STOCK EXCHANGE LLC CENTRAL INDEX KEY: 0000876661 IRS NUMBER: 000000000 STATE OF INCORPORATION: NY FILING VALUES: FORM TYPE: 25-NSE BUSINESS ADDRESS: STREET 1: 11 WALL STREET CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: 212-656-2060 MAIL ADDRESS: STREET 1: 11 WALL STREET CITY: NEW YORK STATE: NY ZIP: 10005 FORMER COMPANY: FORMER CONFORMED NAME: NEW YORK STOCK EXCHANGE INC DATE OF NAME CHANGE: 19910628 25-NSE 1 primary_doc.xml X0203 0000876661 NEW YORK STOCK EXCHANGE LLC 0001536577 Medley LLC 001-37857

280 Park Avenue 6th floor NY NY NEW YORK 10017

212-759-0777 6.875% Senior Notes due 2026 17 CFR 240.12d2-2(b) Christopher Rances Senior Analyst 2021-07-23 EX-99.25 2 ruleprovisionnotice.htm NOTIFICATION OF THE REMOVAL FROM LISTING AND REGISTRATION OF THE STATED SECURITIES The New York Stock Exchange ('NYSE' or the 'Exchange') hereby notifies the Securities and Exchange Commission (the 'Commission') of its intention to remove the entire class of 6.875% Notes due 2026 and 7.25% Notes due 2024 (the 'Securities') of Medley LLC (the 'Company') from listing and registration on the Exchange at the opening of business on August 3, 2021, pursuant to the provisions of Rule 12d2-2(b) because, in the opinion of the Exchange, the Securities are no longer suitable for continued listing and trading on the Exchange. The Exchange reached its decision to initiate delisting proceedings pursuant to Section 802.01D of the Listed Company Manual (the 'Manual') in light of the uncertainty as to the ultimate effect of the Company's bankruptcy reorganization process on the value of the securities of both the Company and Medley Management Inc. ('MDLY'). The Company had filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware on March 7, 2021. Pursuant to the Chapter 11 plan of reorganization and wind-down that was filed on July 6, 2021, MDLY will receive no recovery on its majority ownership interest in the Company, and it is also unclear what, if any, recovery will apply to the Company's Securities. The Exchange also noted the provision of Section 802.01D that applies when an issuer has sold or otherwise disposed of its principal operating assets or has ceased to be an operating company or has discontinued a substantial portion of its operations or business. Separately, the Exchange noted that both the Company and MDLY are late on their SEC filings pursuant to Listed Company Manual Section 802.01E. Pursuant to the above authorization, the Company was notified by letter on July 7, 2021 of the Exchange's intention to initiate delisting proceedings. Further, on July 7, 2021, a press release announcing the initiation of delisting proceedings and the suspension of trading in the Securities was issued and posted on the Exchange's website. The Company had a right to appeal to a Committee of the Board of Directors of the Exchange (the 'Committee') the determination to delist the Securities, provided that it filed a written request for such a review with the Secretary of the Exchange within ten business days of receiving notice of the delisting determination. The Company did not file such request within the specified time period. Consequently, all conditions precedent under SEC Rule 12d2-2(b) to the filing of this application have been satisfied.