NAME OF REPORTING PERSON:
Glacier Point Advisors, LLC
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
[ ] (a)
[ ] (b)
SEC USE ONLY
|4||SOURCE OF FUNDS:|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
CITIZENSHIP OR PLACE OF ORGANIZATION
|NUMBER OF SHARES
BY EACH REPORTING
SOLE VOTING POWER
SHARED VOTING POWER
SOLE DISPOSITIVE POWER
SHARED DISPOSITIVE POWER
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
TYPE OF REPORTING PERSON
|ITEM 1.||SECURITY AND ISSUER:|
|Medley Capital Corporation|
|ITEM 2.||IDENTITY AND BACKGROUND:|
|280 Park Avenue, 6th Floor East, New York, NY 10017|
|ITEM 3.||SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION:|
|ITEM 4.||PURPOSE OF TRANSACTION:|
|The Reporting Persons acquired shares of the Common Stock for investment purposes. The Reporting Persons, in their ordinary course of business, regularly review their equity interest in the issuer.
While the reporting persons have no present intention to dispose of all or any portion of the Common Stock beneficially owned by them, any such sales of the Common Stock may be made in the open market, privately negotiated transactions, or otherwise.
Depending on their assessment of the of the forgoing factors, the reporting persons may, from time to time, further modify their present intention as stated in this item 4. In addition, they may at their discretion purchase additional shares of common stock.
Kevin McCallum, Registered Investment Advisor with Glacier Point Advisors, LLC has indicated his interest in being appointed to the Board of Medley Capital Corp., along with Howard Amster and Matthew Howlett, as independent directors and has proposed that the Board consider, as part of its strategic review process to seek enhanced shareholder value, a plan to repurchase stock and debt of the Company in a manner that would be accretive, and maximize value to the Company's shareholders, using proceeds from cash, loan maturities and asset sales. Glacier Point Advisors, LLC believes that implementing such a strategy is the best approach to increasing net asset value and thereby in turn, enhance shareholder value. Although Messrs. Amster and Howlett may share common interests with Glacier Point Advisors, LLC, we disclaim being part of any group with them.
Except as set forth above, the Reporting Persons do not have at this time any specific plans which would result in (a) the acquisition by the Reporting Persons of additional securities of the Issuer or the disposition by the Reporting Persons of securities of the Issuer, other than described above (b)any extraordinary corporate transactions such as a merger, reorganization, or liquidation involving the Issuer or any of its subsidiaries, (c) any sale or transfer of a material amount of the assets of the Issuer or any of its subsidiaries; (d) any change in the present management of board of directors of the Issuer, including any plans or proposals to change the term of directors, or to fill any existing vacancies on the Issuer's board of directors: (e) any other material change in the present capitalization or dividend policy of the Issuer; (f) any other material change in the Issuer's business or corporate structure; (g)any change in the Issuer's charter, bylaws, or instruments corresponding thereto or other actions which may impede the acquisition of control of the Issuer by any person; (h) the Common Stock being delisted from a national securities exchange or ceasing to be authorized to be quoted in an inter-dealer quotation system or a registered national securities association;(i) causing a class of equity securities of the Issuer to be eligible for termination of registration pursuant to Section 129(g)(4)of the Act; or (j) any action similar to those enumerated above.
|ITEM 5.||INTEREST IN SECURITIES OF THE ISSUER:|
|ITEM 6.||CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER:|
|ITEM 7.||MATERIALS TO BE FILES AS EXHIBITS:|
|Exhibit A - Letter to Medley Capital Corp Directors dated July 20, 2020.|
|July 20 2020||
Glacier Point Advisors