Mount Logan Capital Inc. and 180 Degree Capital Corp. Close Strategic Business Combination

Core Points - The merger between Mount Logan Capital Inc. and 180 Degree Capital Corp. has successfully closed, creating a new entity expected to trade on NASDAQ under the symbol "MLCI" starting September 15, 2025 [1][2] - The closing merger value is approximately US$122.7 million, translating to a price per share of US$9.43 for MLCI [1][2] - Shareholders of Mount Logan and 180 Degree Capital will own approximately 56.4% and 43.6% of the combined company, respectively, with around 13 million shares of New Mount Logan common stock outstanding post-merger [1][2] Company Overview - New Mount Logan will focus on alternative asset management and insurance solutions, particularly in public and private debt securities in the North American market [5] - The company will also engage in the reinsurance of annuity products through its subsidiaries, Mount Logan Management LLC and Ability Insurance Company [5][6] - Mount Logan Management provides investment management services to various investment funds and acts as a collateral manager for collateralized loan obligations [6] Future Plans - New Mount Logan plans to launch a tender offer for up to US$15 million of its shares at a price per share equal to the implied closing price of US$9.43, with additional stock repurchases expected to total US$25 million over the next 24 months [2] - The liquidity programs will be conducted through various methods, including open market purchases and privately negotiated transactions [2]