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 (TURN) is a specialized closed-end investment fund employing constructive activism to drive value in undervalued small-cap companies. This news hub provides investors with essential updates on the company's strategic initiatives, portfolio developments, and market positioning within disruptive technology sectors.
Access real-time announcements about TURN's investment activities, including operational turnarounds in life sciences and precision medicine ventures. Our curated news collection features earnings reports, strategic partnership disclosures, and analysis of the fund's unique approach to unlocking value through hands-on portfolio management.
Key updates cover critical areas such as venture capital deployments, shareholder communications, and progress in implementing operational improvements across holdings. Investors gain insights into how TURN's focused strategy addresses valuation gaps in small-cap markets while managing sector-specific risks.
Bookmark this page for centralized access to verified financial updates and strategic announcements from 180 Degree Capital Corp. Stay informed about the fund's latest moves in identifying and transforming undervalued public companies through its distinctive blend of capital investment and operational expertise.
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.
180 Degree Capital Corp. (NASDAQ:TURN) has filed a preliminary joint proxy statement/prospectus for its proposed all-stock merger with Mount Logan Capital Inc. The merged entity will operate as Mount Logan Capital Inc. and trade on Nasdaq as 'MLCI'. TURN shareholders will receive proportionate ownership in New Mount Logan based on NAV at closing, relative to Mount Logan's $67.4 million valuation at signing.
The company reports positive Q1 2025 performance, with significant portfolio outperformance versus the Russell Microcap Index through March 14, 2025. Key catalysts include IVAC's sale to Seagate, SNCR's positive Q4 2024 results, and ACNT's asset sale and improved performance, though offset by challenges at LTRX and CVGI.
Management anticipates a trading window will open once updated preliminary proxy materials including Mount Logan's U.S. GAAP financials are filed, with executives planning to purchase TURN shares in the open market.
180 Degree Capital Corp. (NASDAQ:TURN) announced a definitive agreement for a business combination with Mount Logan Capital Inc. The merger represents a strategic evolution for TURN, transitioning from a closed-end fund to an operating company. Mount Logan brings approximately $2.4+ billion in assets under management (as of September 30, 2024), generating predictable fee revenue.
Key highlights of TURN's performance since December 2016 include: reduction in operating expenses by 44%, transition from 92% private investments to over 99% public investments, and increase in insider ownership from 2.1% to 12.7%. The company's public portfolio delivered a gross total return of +204.5% (including SMA carried interest) from Q4 2016 to Q4 2024, outperforming both the Russell Microcap Index (+68.5%) and Lipper Peer Group Average (+81.8%).
The transaction has received unanimous board approval, with approximately 27% of outstanding shares supporting through voting agreements or non-binding indications.
180 Degree Capital Corp. (NASDAQ:TURN) reported its NAV of $4.64 as of December 31, 2024, with a Q4 2024 performance that outperformed major market indices. The company achieved a +7.8% gross total return in Q4 2024 and maintained a +205% gross total return since inception, compared to the Russell Microcap Index's +69%.
The company announced a significant business combination agreement with Mount Logan Capital. Management and large shareholders, representing approximately 27% of outstanding shares, have shown support through voting agreements or non-binding indications. The company expects to file a registration statement and joint proxy statement/prospectus with the SEC soon.
While full-year 2024 performance was described as disappointing, Q1 2025 has shown strong performance exceeding Q4 2024 results. The company's NAV experienced a 5.5% increase in Q4 2024 but showed a -7.6% decline for the full year 2024.
Marlton Partners, owning 4.6% of 180 Degree Capital Corp. (TURN), has expressed serious concerns about TURN's merger agreement with Mount Logan Capital. The key issues highlighted include:
1. The proposed transformation from a closed-end fund to an alternative asset and insurance solutions company, removing '40 Act protections
2. The Board's failure to provide shareholders an option to tender at net asset value (NAV)
3. The immediate rejection of Source Capital's merger proposal valued at 101% of NAV without any engagement
Marlton questions whether the Board's decisions serve shareholders' interests, particularly noting management's continued employment with Mount Logan post-merger. In response, Marlton has nominated three candidates for election to TURN's Board at the 2025 Annual General Meeting.
Source Capital (NYSE: SOR) has expressed disappointment over 180 Degree Capital Corp. (NASDAQ: TURN)'s swift rejection of its non-binding initial merger proposal within three business days, without engaging in any dialogue to maximize shareholder value. Despite the rejection, Source Capital notes that the market responded positively to their proposal, and at least one major TURN shareholder has publicly supported engagement between the companies. Source Capital maintains its commitment to pursuing a potential merger and seeks constructive dialogue with TURN's Board of Directors.
180 Degree Capital Corp. (NASDAQ:TURN) announced that its Board of Directors has evaluated the non-binding proposal from Source Capital issued on January 24, 2025. The Board determined that the Source Proposal does not constitute a TURN Superior Proposal and does not meet the criteria outlined in Section 7.10(a) of the Merger Agreement with Mount Logan Capital Inc.
The Board unanimously reaffirmed its support for the proposed strategic business combination with Mount Logan, stating it is in the best interests of all shareholders. The merger's benefits were detailed in a joint investor presentation filed on January 17, 2025, available on the company's website.
Marlton Partners, owning 4.6% of 180 Degree Capital Corp (NASDAQ: TURN), has issued a statement urging TURN's Board to engage with Source Capital's (NYSE: SOR) merger proposal announced on January 24, 2025. The merger offer values TURN at 101% of its net asset value per share.
Marlton emphasizes that the market's positive response to Source Capital's offer reflects shareholders' desire to eliminate the trading discount. Previously, on December 17, 2024, Marlton nominated three independent candidates - James Elbaor, Gabi Gliksberg, and Aaron Morris - for election to TURN's Board at the 2025 Annual General Meeting, citing concerns about TURN's chronic underperformance and large discount to net asset value.
Source Capital (NYSE: SOR) has proposed a merger with 180 Degree Capital Corp. (NASDAQ: TURN) in an all-stock transaction. The proposal values TURN at 101% of its net asset value per share. SOR, managed by First Pacific Advisors (FPA) which oversees $27 billion in assets, offers several benefits including:
- Premium to NAV for TURN shareholders
- Reduced NAV discount (SOR trades at ~1-4% discount)
- Larger market cap of approximately $390 million (vs TURN's $38 million)
- Lower expense ratio of 0.93% (vs TURN's 8.3%)
- Lower management fee of 0.675% (vs TURN's 4.9%)
- Distribution rate of 5.9% per annum
- Strong performance with >8% annual NAV growth over past five years
The proposal is subject to due diligence, board approval, and definitive documentation.
180 Degree Capital Corp. (NASDAQ:TURN) has announced a definitive agreement to merge with Mount Logan Capital Inc. in an all-stock transaction. The combined entity will operate as Mount Logan Capital Inc. and trade on Nasdaq under MLCI, managing over $2.4 billion in assets focused on private credit markets.
The merger values Mount Logan at approximately $67.4 million, with 180 Degree Capital shareholders receiving proportionate ownership based on NAV at closing. Post-merger ownership is estimated at 40% for 180 Degree Capital shareholders and 60% for Mount Logan shareholders. The deal has secured support from approximately 20% of 180 Degree Capital and 23% of Mount Logan shareholders through voting agreements.
The combined company will feature a regulated insurance solutions business with $1.1 billion in total assets and plans to pay quarterly dividends subject to board approval. Ted Goldthorpe, Mount Logan's current CEO, will lead the merged entity. The transaction is expected to complete in mid-2025, subject to regulatory and shareholder approvals.
