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180 Degree Capital proposes merger with Mount Logan Capital in all-stock deal.
ByAinvest
Monday, Jul 14, 2025 7:33 am ET1min read
• 180 Degree Capital to merge with Mount Logan in all-stock transaction. • Business Combination Special Meeting set for August 22, 2025. • Record date for meeting is July 8, 2025. • Shareholder call to discuss Q2 2025 results on July 15, 2025.
180 Degree Capital Corp. (NASDAQ: TURN) has announced its preliminary net asset value (NAV) per share as of June 30, 2025, of $4.80, representing an increase of approximately 8.6% from the prior quarter and 3.4% year-to-date [1]. The company also filed an updated preliminary joint proxy statement/prospectus with the Securities and Exchange Commission (SEC) on July 9, 2025, regarding its proposed merger with Mount Logan Capital Inc. (the "Business Combination") [1].The merger is expected to result in a new entity, New Mount Logan Capital Inc., listed on the Nasdaq under the symbol MLCI. Shareholders of 180 Degree Capital will receive proportionate ownership of New Mount Logan based on 180 Degree Capital's NAV at closing relative to a valuation of Mount Logan of approximately $67.4 million at signing [1].
The record date for the special meeting to approve the Business Combination is July 8, 2025, and the meeting itself is scheduled for August 22, 2025 [1]. Additionally, Kevin Rendino and Daniel Wolfe will host a shareholder call on July 15, 2025, to discuss the preliminary results from Q2 2025 and the proposed Business Combination [1].
180 Degree Capital's CEO, Kevin M. Rendino, expressed pride in the company's performance during Q2 2025, noting that the increase in NAV reflects a material portion of the ultimate total expenses of the Business Combination [1]. The company's gross total return through the first six months of 2025 of approximately +16.0% compares favorably to the -1.1% total return of the Russell Microcap Index [1].
Daniel B. Wolfe, President of 180 Degree Capital, emphasized the value creation opportunities for the company's holdings through the anticipated close of the Business Combination, subject to shareholder and regulatory approvals [1]. Rendino concluded that the company is close to completing the SEC review process, which will allow it to seek shareholder approval for the Business Combination [1].
References:
[1] https://ir.180degreecapital.com/press-releases/detail/434/180-degree-capital-corp-notes-business-and-merger-related
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