Welcome to our dedicated page for 180 Degree Capital news (Ticker: TURN), a resource for investors and traders seeking the latest updates and insights on 180 Degree Capital stock.
180 Degree Capital Corp. (symbol: TURN) is a publicly traded registered closed-end fund specializing in investing in undervalued small-cap companies with significant turnaround potential. The company's strategy hinges on constructive activism to unlock value in these firms, aiming for a 180-degree transformation in their performance and market perception.
Founded on the principles of long-term capital appreciation, 180 Degree Capital Corp. focuses on sectors driven by disruptive technologies, particularly in the life sciences, precision medicine, and health industries. As a non-diversified closed-end management investment company, TURN offers a unique investment approach by combining venture capital insights with strategic activism.
Recent achievements include successful investments and strategic partnerships that have led to substantial milestones in the portfolio companies' growth and market presence. The company continually evaluates new opportunities to invest in businesses that exhibit strong potential for innovation and market scalability.
180 Degree Capital Corp.'s operations are geared towards providing support and resources to its portfolio companies, enabling them to commercialize and integrate their products effectively. The firm leverages its expertise in financial services and industry-specific knowledge to foster growth and drive transformational outcomes.
For more detailed information and the latest updates, visit their website.
180 Degree Capital Corp. (NASDAQ:TURN) announced the receipt of $12.3 million in cash, equivalent to $1.19 per share, following the sale of its rights to potential future milestone payments from Eli Lilly's acquisition of Petra Pharma Corporation. CEO Kevin M. Rendino noted that this addition strengthens the company's balance sheet, allowing it to pursue attractive investment opportunities that could yield over 100% returns in three years. This milestone represents significant progress in 180's financial strategy since its inception in 2017.
180 Degree Capital Corp. (NASDAQ: TURN) recently issued an open letter expressing concerns about Comscore, Inc. (SCOR) following its removal from the Russell indices, which led to significant value loss for common stockholders. Holding a substantial stake in SCOR, 180 Degree Capital criticized the Board's alignment with preferred stockholders' interests, noting that the structure incentivizes cash extraction from the company without benefiting common shareholders. They advocate for converting preferred shares to common stock to restore value and maintain index membership.
180 Degree Capital Corp. (NASDAQ:TURN) reported a challenging Q1 2022, with an 8% decline in NAV and a -14.8% gross total return from its public portfolio. However, the company's legacy private portfolio rose by $3.3 million. Positive developments included the sale of Petra Pharma milestone payments and a $76.6 million first payment from TARA Biosystems, translating to $7.38 per share. CEO Kevin Rendino emphasized the firm's focus on identifying small-cap investment opportunities despite current market volatility.
180 Degree Capital Corp. (NASDAQ: TURN) will announce its Q1 2022 financial results on May 11, 2022, after market close. A conference call is scheduled for May 12, 2022, at 9 AM ET to discuss these results and updates for Q2 2022. Investors can access the call via U.S. Dial-In at (609) 746-1082 or through international numbers listed online. The meeting will also be webcast, with materials available post-call on the company's investor relations site. 180 Degree Capital focuses on investing in undervalued small companies to drive share price turnarounds.
On April 28, 2022, 180 Degree Capital Corp. (NASDAQ: TURN) announced the sale of its rights to potential future milestone payments from Eli Lilly's acquisition of Petra Pharma for $12.3 million, equating to $1.19 per share. These milestone payments were valued at $7.6 million as of December 31, 2021. The sale reflects 180's strategic shift towards public market investments, positioning them to hold approximately 83% of its cash and investments in cash and public securities. The company aims to reduce the discount of its stock to its net asset value (NAV).
180 Degree Capital Corp. (NASDAQ:TURN) announced that its private portfolio holding, TARA Biosystems, was acquired by Valo Health, LLC. The acquisition will provide 180 with approximately $2.7 million in cash over the next 24 months, with an opportunity for an additional $3.3 million based on milestone achievements. CEO Kevin M. Rendino emphasized this event as a step towards monetizing their private portfolio, aiming for liquidity and growth in cash assets. The firm aims to convert all assets into cash and public companies.
180 Degree Capital Corp. (NASDAQ: TURN) has engaged Peaks Strategies to enhance its market awareness and has launched a new website aimed at attracting investors. This initiative is part of an effort to bridge the gap between its share price and net asset value. CEO Kevin M. Rendino emphasized the importance of actively communicating the firm's accomplishments as it celebrates its first five years. The company also recently joined the FLX Distribution platform to expand access to wealth management firms and financial advisors.
180 Degree Capital Corp. (NASDAQ:TURN) announced its Q4 2021 financial results, reporting a gross total return of +6.1% for the quarter and +34.7% for the full year. Assets under management reached approximately $114.7 million. Although the legacy private portfolio saw a decline of $1.6 million, potential monetization opportunities exist in 2022, including a $6.8 million possible payment related to former portfolio company Petra Pharma. The company's long-term investment strategy shows a gross total return of +373.6% since inception.
180 Degree Capital Corp. (NASDAQ: TURN) will release its fourth quarter 2021 financial results on February 24, 2022, after market close. A conference call to discuss these results and Q1 2022 updates is scheduled for February 25, 2022, at 9 AM Eastern Time. Investors can join via U.S. Domestic Dial-In at (609) 746-1082 or through the provided international dial-in numbers. A webcast will also be available for those who prefer online access. The company focuses on investing in undervalued small public companies, aiming for significant turnarounds in their share prices.
180 Degree Capital Corp. (NASDAQ:TURN) announced that D-Wave Systems, Inc. plans to merge with DPCM Capital, Inc. (SPAC), establishing D-Wave Quantum Inc. The transaction values D-Wave at approximately $1.2 billion and could enhance its position in commercial quantum computing across sectors like pharmaceuticals and finance. Post-merger, shares are set to trade on NYSE under the symbol QBTS. 180 Degree Capital holds around 900,000 shares of the merged entity. This deal is a significant milestone in 180's strategy to transition to a portfolio focused on public equities.
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