180 Degree Capital Corp Stock Price, News & Analysis

180 Degree Capital (NASDAQ:TURN) announced the rescheduling of its special meeting for director elections to September 15, 2025. The date change follows discussions with shareholders who submitted a demand request on June 17, 2025, considering the company's focus on minimizing expenses ahead of its proposed all-stock merger with Mount Logan Capital Inc.

The company expects to secure regulatory approvals and hold a special meeting for the Business Combination approval before the new director election meeting date. The agreement includes provisions for seeking consent from demanding shareholders for any future date changes and providing notice to Marlton Partners before filing preliminary proxy materials.

180 Degree Capital Corp (NASDAQ:TURN) announced a special meeting for director elections on August 18, 2025, with a record date of July 18, 2025, following a shareholder demand under NY Business Law. The meeting comes amid the company's pending merger with Mount Logan Capital in an all-stock transaction. CEO Kevin Rendino emphasized the company's progress in the SEC review process for the Business Combination, with an amended preliminary joint proxy statement/prospectus filed on June 12, 2025. Management believes the merger will provide access to Mount Logan's robust balance sheet and credit capabilities, enabling comprehensive capital structure solutions for small-cap companies. The company views the combination as transformative, potentially making their NAV a floor rather than a ceiling for future value creation.

Marlton Partners and other shareholders, owning over 10% of 180 Degree Capital Corp (NASDAQ: TURN), have demanded a special shareholder meeting for director elections due to serious governance concerns. The demand follows TURN's failure to hold its 2025 Annual General Meeting and alleged mismanagement issues. Key concerns include the stalled Mount Logan Capital acquisition, which has incurred $6-7 million in deal costs (16% of Q1 NAV), lack of transparency in financial reporting, and a 4.7% NAV decline in Q1 2025. The company has not held an annual meeting since April 15, 2024, leaving shareholders without voting opportunities for over 14 months. Marlton's Managing Partner James Elbaor emphasized the need for accountability and shareholder input, particularly regarding the Mount Logan transaction.

180 Degree Capital Corp. (NASDAQ:TURN) announced the filing of an amended preliminary joint proxy statement/prospectus for its proposed merger with Mount Logan Capital Inc. The all-stock transaction will result in a new Delaware corporation operating as Mount Logan Capital Inc. (New Mount Logan), trading on Nasdaq as MLCI. 180 Degree Capital shareholders will receive ownership in New Mount Logan based on their NAV at closing, relative to Mount Logan's $67.4M valuation. The company expects to hold a special shareholder meeting for merger approval in Q3 2025, following SEC review completion. Currently, approximately 14% of non-insider shareholders have shown support through voting agreements or non-binding indications.

180 Degree Capital Corp. (NASDAQ:TURN) provided an update on its proposed all-stock merger with Mount Logan Capital Inc. The company filed an amended preliminary proxy statement and Form S-4 registration statement, which are currently under SEC review. The merger process is expected to conclude with a special shareholder meeting in Q3 2025. Since the merger announcement, TURN's stock price has increased by 5.6%, outperforming the Russell Microcap Index's -4.9% return. The company has received support from approximately 14% of non-insider shareholders through voting agreements and non-binding indications. Management believes the business combination will transform TURN's net asset value from a price ceiling to a floor and create significant shareholder value despite merger-related expenses.

Marlton Partners, owning 5.2% of 180 Degree Capital Corp (NASDAQ: TURN), issued an open letter criticizing the company's board and management for delaying a shareholder vote on the proposed sale to Mount Logan Capital. The letter highlights several concerns: the board has delayed the vote for over 5.5 months since the deal announcement, rejected a superior offer at 101% of NAV, and shareholders face $6-7 million in deal-related costs (15.8% of Q1 NAV). The company's NAV declined 4.7% through Q1 2025, while annual operating expenses remain high at 10% of NAV. Marlton criticizes management for making private voting agreements and lack of transparency, including no monthly NAV estimates in 2025 or earnings calls for Q4 2024 and Q1 2025. They demand immediate setting of a record date for shareholders to vote on the Mount Logan transaction.

180 Degree Capital Corp (NASDAQ:TURN) reported Q1 2025 results with a NAV of $4.42 and significant progress on its proposed Business Combination with Mount Logan Capital. The company's public portfolio achieved a gross total return of +4.5% in Q1 2025, outperforming the Russell Microcap Index's -14.4%. Mount Logan's conversion to US GAAP resulted in improved metrics, including fee-related earnings of $9.1 million in 2024 and shareholder equity value of approximately $104.1 million. The pro forma combination yields an estimated shareholder equity value of nearly $140 million. Mount Logan manages approximately $2.4+ billion in assets and focuses on private credit. About 27% of TURN's shareholders have indicated support for the merger through voting agreements. The company's public portfolio has generated +198.7% gross total return since Q4 2016, despite a -37.0% change in NAV due to legacy private portfolio declines.

180 Degree Capital Corp. (NASDAQ:TURN) announced the filing of an amended preliminary joint proxy statement/prospectus for its proposed merger with Mount Logan Capital Inc. The all-stock transaction will result in a new Delaware corporation, New Mount Logan, trading under MLCI. Key highlights include: - Mount Logan's financial statements converted from IFRS to US GAAP, showing improved metrics: - Fee-related earnings increased to $9.1 million for 2024 - Shareholder equity value rose to $104.1 million as of December 31, 2024 The combined entity will have an estimated shareholder equity value of nearly $140 million. 180 Degree Capital shareholders will receive proportionate ownership based on NAV at closing, relative to Mount Logan's $67.4 million valuation. Management believes this merger will transform NAV from a stock price ceiling to a floor, potentially creating significant shareholder value.

180 Degree Capital Corp. (NASDAQ: TURN) reported a preliminary net asset value per share (NAV) of $4.42 as of March 31, 2025. The company achieved a gross total return of +4.5% in Q1 2025, outperforming the Russell Microcap Index by approximately 1900 basis points. However, the net total return was -4.7% due to expenses related to the proposed merger with Mount Logan Capital.

Key portfolio updates include:

• Successful exits from Intevac (IVAC) and Brightcove (BCOV) investments
• Strong performance in public investments, with notable gains in companies like Synchronoss Technologies (+13.4%) and Ascent Industries (+13.2%)
• Operating expenses declined by over 30% from Q1 2024
• Additional $300,000 in professional fees due to efforts opposing the Business Combination

The company initiated positions in three new publicly traded companies during Q1 2025. Despite Q2 2025 starting with headwinds from potential tariffs and recession concerns, the company maintains strong relative performance versus its benchmark.