180 Degree Capital Corp. Notes Average Discount of Net Asset Value Per Share to Stock Price for Sixth Month of Initial Measurement Period of Its Discount Management Program

Core Insights - 180 Degree Capital's Board of Directors has established two measurement periods to evaluate the average discount between TURN's estimated daily NAV and its closing stock price, with potential actions if the discount exceeds 12% [1] - The company is optimistic about the potential catalysts for its portfolio holdings, particularly Synchronoss Technologies, which has recently retired preferred stock and debt, leading to significant cost savings [2][8] - The average discount between estimated daily NAV and stock price was approximately 16% in June 2024 and 19% year-to-date through June 2024, indicating a challenging market environment for microcapitalization stocks [6][7] Company Strategy - 180 Degree Capital is focused on constructive activism to help its portfolio companies achieve value-creating catalysts, actively participating in board activities and strategic decisions [8] - The company aims to reverse the direction of share prices for undervalued small publicly traded companies through its investment strategy and activism [8] Market Context - The current market is characterized by a concentration in a few mega-cap stocks, reminiscent of the dot-com bubble, which has negatively impacted microcapitalization stocks [7] - The management team of 180 Degree Capital continues to purchase its own stock, indicating confidence in the future appreciation of NAV [7]