Core Viewpoint - 180 Degree Capital Corp. reported its financial results for the year ending December 31, 2024, and highlighted a significant business combination with Mount Logan Capital Inc. that is expected to enhance shareholder value [1][2]. Financial Performance - The gross total return from inception through the end of 2024 was +205%, outperforming the Russell Microcap Index's +69% [2]. - In Q4 2024, the public portfolio gross total return (excluding SMA carried interest) was 7.8%, while the change in NAV was +5.5% [2]. - The change in stock price for Q4 2024 was +8.7%, contrasting with a -10.5% change over the past year [2]. Business Combination - The company announced a definitive agreement to merge with Mount Logan Capital, which is seen as a strategic evolution for 180 Degree Capital [2]. - Approximately 27% of outstanding shares are supported by large shareholders who have signed voting agreements or provided non-binding indications of support for the business combination [2]. - The leadership transition is expected to create significant value for shareholders, with a focus on long-term growth [2]. Shareholder Communication - A registration statement and joint proxy statement/prospectus will be filed with the SEC to provide detailed information about the business combination and its benefits [2][5]. - The company encourages shareholders to review the upcoming proxy statement and prospectus for important information regarding the merger [5]. Company Overview - 180 Degree Capital Corp. is a closed-end fund focused on investing in undervalued small publicly traded companies, aiming for significant turnarounds through constructive activism [4].
180 Degree Capital Corp. Reports Net Asset Value Per Share (“NAV”) of $4.64 as of December 31, 2024