MONTCLAIR, N.J., Sept. 03, 2024 (GLOBE NEWSWIRE) -- 180 Degree Capital Corp. ("180 Degree Capital") (NASDAQ: TURN), noted today that the average discount between its estimated daily net asset value per share ("NAV") and its daily closing stock price during August 2024 and year-to-date through the end of August 2024, were approximately 21% and 19%, respectively.1 This discount was approximately 25% on August 30, 2024, the last day of trading in the month. As previously disclosed in a press release on Novembe ...

180 Degree Capital Corp. is a publicly traded registered closed-end fund focused on investing in and providing value-added assistance through constructive activism to what we believe are substantially undervalued small, publicly traded companies that have potential for significant turnarounds. Our goal is that the result of our constructive activism leads to a reversal in direction for the share price of these investee companies, i.e., a 180- degree turn. Detailed information about 180 and its holdings can ...

As previously disclosed in a press release on November 13, 2023, 180 Degree Capital's Board of Directors has set two measurement periods of 1) January 1, 2024 to December 31, 2024, and 2) January 1, 2025 to June 30, 2025, in which it will evaluate the average discount between TURN's estimated daily NAV and its closing stock price pursuant to a Discount Management Program. Should TURN's common stock trade at an average daily discount to NAV of more than 12% during either of these measurement periods, 180 Deg ...

"This transaction is a great example of what 180 Degree Capital means by constructive activism," added Daniel B. Wolfe, President of 180 Degree Capital. "Since our original investment in 2021, we developed a strong relationship with the impressive management team of SNCR. We welcomed the opportunity to join SNCR's Board of Directors in December 2023 when SNCR's common stock was trading at $4.66 because we believed that our complementary skill sets could help unlock value for all stakeholders of SNCR. We als ...

For over two years we have sent SCOR's Board a series of private and public letters that include a myriad of recommendations we believe it could take to maximize value for all of SCOR's stakeholders. Recently, we have stayed mostly silent as we were hopeful the nomination of Matt to join SCOR's Board was an indication that it takes its governance role seriously and that it would finally take action on other pressing items. After all, representatives of SCOR's Board with whom we have spoken with, primarily i ...

MONTCLAIR, N.J., June 03, 2024 (GLOBE NEWSWIRE) -- 180 Degree Capital Corp. ("180 Degree Capital") (NASDAQ:TURN), noted today that the average discount between its estimated daily net asset value per share ("NAV") and its daily closing stock price during May 2024 and year-to-date through the end of May 2024, were approximately 18% and 20%, respectively.1 This discount was approximately 19% on May 31, 2024. As previously disclosed in a press release on November 13, 2023, 180 Degree Capital's Board of Directo ...

I would like to remind participants that this call is being recorded and that we'll be referring to a slide deck that we have posted on our Investor Relations website at ir.180degreecapital.com under Financial Results. Please turn to our safe harbor statement on Slide 2. This presentation may contain statements of a forwardlooking nature relating to future events. Statements contained in this presentation that are forward-looking statements are intended to be made pursuant to the safe harbor provisions of t ...

180 Degree Capital Corp (NASDAQ:TURN) Q4 2023 Earnings Conference Call February 21, 2024 9:00 AM ET Daniel Wolfe I would now like to turn the call over to Kevin. Over the last 2 years, we feel stupid, on the one hand, yet, on the other, we couldn't be more optimistic about what we own, that significant value appreciation is possible in the next few years. The fourth quarter of 2023 we hope was a start of what we believe will be a return to risk asset classes, including the microcap stocks in which we invest ...

Financial Data and Key Metrics Changes - The company has experienced a significant transformation, with 97% of its assets now in public companies, which is a shift from a previous focus on private investments [28][43] - Since the company's strategy change in 2017, it has generated nearly $3 per share in gains, despite facing losses from legacy positions [28][43] - The company has initiated a discount management program to address the trading discount of its stock relative to its net asset value (NAV) [79][80] Business Line Data and Key Metrics Changes - The company has shifted its focus away from private investments, which previously resulted in substantial losses, to a strategy centered on public companies that can be controlled [59][84] - Recent announcements from portfolio companies indicate positive developments, such as Synchronous becoming a pure play cloud service company and Intevac nearing certification for a new tool [53][54] Market Data and Key Metrics Changes - Small cap stocks have underperformed significantly, with the Russell Microcap index down 38% and the Russell Microcap Growth index down 49% from their highs [48][72] - The disparity in performance between small and large cap stocks is at a historical high, with a 3000 basis point difference noted [72] - The company believes that the current market conditions present a unique buying opportunity for microcap investments [45][46] Company Strategy and Development Direction - The company aims to narrow the discount at which its stock trades relative to NAV by actively engaging with its portfolio companies to create value [19][80] - The management emphasizes the importance of investing in companies that are expected to rise in value to increase NAV [29][80] - The company is open to exploring strategic partnerships or mergers to enhance its scale and asset base [61][62] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenges faced in the current market but believes that the worst may be over, citing potential peaks in inflation and interest rates [32][71] - The management is committed to a proactive approach in engaging with portfolio companies to unlock shareholder value [19][80] - The company expresses confidence in the long-term performance of small caps, citing historical trends of recovery following periods of underperformance [51][74] Other Important Information - The company has cut expenses significantly since 2017, moving out of high-cost locations and reducing its operational budget [86] - The management has indicated that they will continue to purchase company stock in the open market as part of their strategy to support share price [80] Q&A Session Summary Question: What happened with AgBiome's valuation? - The valuation of AgBiome has decreased significantly due to challenges in raising capital and the current financing environment, leading to a reassessment of risks [5][6][59] Question: What is the Board doing to address scale issues? - The Board is exploring various options, including potential mergers and partnerships, to enhance the company's scale and asset base [60][61] Question: How does the discount management program work? - The program involves monitoring the stock's trading discount relative to NAV and taking actions as necessary to narrow that discount [88][91]

Please turn to the next slide. For Q2 '23, our regular operating expenses were approximately $879,000 versus $741,000 the prior year -- $741,000 in the prior year. We will maintain a lean cost structure outside of fixed expenses for being a public company and focusing our expenses on activities solely designed to enhance our investment performance or increase our revenues from managing outside capital. The increase in operating expenses this year was primarily due to the addition of Matt Epstein to our inve ...