180 Degree Capital Corp. and Mount Logan Capital Inc. Announce Revised Terms of Business Combination in Response to Constructive Conversations With Shareholders

Core Viewpoint - The proposed business combination between 180 Degree Capital and Mount Logan has been amended to provide shareholders of 180 Degree Capital with shares of the new entity, New Mount Logan, valued at 110% of 180 Degree Capital's Net Asset Value (NAV) at closing, an increase from the previous 100% [1] Summary by Sections Business Combination Details - New Mount Logan, along with its management and affiliates, will provide a total of US$25 million for shareholder liquidity, with US$15 million expected to be launched within 60 days post-closing and the remaining US$10 million staged over 24 months [1][2] - The Liquidity Programs will be based on the Closing Merger Value, which includes a price per share that is anticipated to be at least 17% above 180 Degree Capital's closing price of approximately US$4.42 on August 15, 2025 [2] - Nearly 63% of outstanding shares of 180 Degree Capital have already voted in favor of the business combination, representing about 95% of votes cast, indicating strong shareholder support [1][5] Management Commitments - Management teams from both companies, along with the New Mount Logan board, have committed not to participate in the Liquidity Programs, reinforcing their confidence in the long-term outlook of New Mount Logan [3] - The management emphasizes the potential for value creation through the combined companies and the strategic merits of the transaction [4] Future Outlook - The combined entity is expected to pay quarterly cash dividends, subject to board approval, continuing a trend established by Mount Logan over the past 24 quarters [1] - The business combination aims to create a new U.S.-exchange-listed alternative asset management and insurance solutions platform designed for growth [1][4]