MDLY Medley Management Inc

Item 3.01.   Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On July 7, 2021, Medley Management Inc. (“MDLY”) received notification from the staff of NYSE Regulation, Inc. (“NYSE Regulation”) that it has determined to commence proceedings to delist MDLY’s Class A common stock (“Class A common stock”). NYSE Regulation determined that MDLY was no longer suitable for listing pursuant to Listed Company Manual Section 802.01D in light of the uncertainty as to the ultimate effect of Medley LLC’s bankruptcy reorganization process on the value of the Class A common stock. Specifically, NYSE Regulation noted that, pursuant to the Chapter 11 Plan of Reorganization and Wind-Down filed by Medley LLC on July 6, 2021, MDLY, as the majority member of Medley LLC, will receive no recovery on its majority ownership interest in Medley LLC and it is unclear what, if any, recovery will apply to Medley LLC’s securities. NYSE Regulation also noted the provision of Listed Company Manual 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.

Under the NYSE delisting procedures, MDLY has a right to request a review of this determination by a Committee of the Board of Directors of the New York Stock Exchange, provided a written request for such review is filed by July 21, 2021, ten business days after receiving the delisting notice. MDLY is continuing to evaluate whether to appeal the NYSE Regulation determination.