On February 4, 2019, NexPoint Advisors, L.P. announced that it has submitted a management proposals related to the merger of Medley Capital Corporation into Sierra Income Corporation. Further, NexPoint Advisors stated that it has proposed to: (i) retain the merger of Medley Capital Corporation into the Company; (ii) eliminate the value destruction, underperformance and impediments to closing that come with the Medley Management Inc. merger; and (iii) replace Medley Management Inc. and its troubling underperformance by establishing a new investment advisory agreement between the Surviving Company and NexPoint, a proven manager with a strong track record of delivering value to investors in the business development company and closed-end fund space.