Core Viewpoint - 180 Degree Capital Corp. has filed a preliminary joint proxy statement with the SEC regarding its proposed all-stock merger with Mount Logan Capital Inc., which is expected to create a new entity listed on Nasdaq under the symbol "MLCI" [1][2] Company Overview - 180 Degree Capital Corp. is a publicly traded closed-end fund focused on investing in undervalued small publicly traded companies with turnaround potential [3] Business Combination Details - The merger will result in shareholders of 180 Degree Capital receiving ownership in the new entity based on the net asset value (NAV) at closing, with Mount Logan valued at approximately $67.4 million at signing [1][2] - The merger agreement includes plans for a proxy statement and registration statement to be filed with the SEC, detailing the business combination and related matters [5] Management Commentary - The CEO of 180 Degree Capital expressed optimism about the merger, highlighting the potential for value creation and the positive performance of portfolio holdings in Q1 2025 [2] - The President of 180 Degree Capital noted significant outperformance of the investment portfolio compared to the Russell Microcap Index, driven by key catalysts [2] Future Outlook - The company anticipates additional value-creating catalysts in its portfolio leading up to the merger's closing [2] - Management plans to be active purchasers of 180 Degree Capital shares once the trading window opens following the filing of updated financial statements [2]
180 Degree Capital Corp. Notes Filing of Preliminary Joint Proxy Statement/Prospectus for Proposed Business Combination With Mount Logan Capital Inc. and Provides Interim Update on Developments in Q1 2025