180 Degree Capital Corp. Begins Managing $25 Million Allocation From Pension Fund

Rhea-AI Summary

MONTCLAIR, N.J., June 08, 2020 – 180 Degree Capital Corp. (NASDAQ: TURN) announced a definitive investment advisory agreement managing a $25 million allocation from a pension fund in a separately managed account. The company is now a registered investment adviser with the SEC. CEO Kevin M. Rendino expressed excitement about the investment, reinforcing the firms' capital for activist investing. 180 Degree Capital focuses on undervalued small public companies, aiming to drive share price turnarounds through constructive activism.

Positive

• Secured a $25 million investment from a pension fund.
• Now registered as a Registered Investment Adviser with the SEC, enhancing credibility.
• Plans to strengthen capital for activist investing.

Negative

• None.

MONTCLAIR, N.J., June 08, 2020 (GLOBE NEWSWIRE) -- 180 Degree Capital Corp. (NASDAQ:TURN) (“180”) announced today that it has executed a definitive investment advisory agreement to manage the previously noted $25 million allocation from a pension fund in a separately managed account.  180 also noted it is also now registered as a Registered Investment Adviser with the Securities and Exchange Commission.

“We are excited to begin investing the $25 million allocation from a pension fund alongside 180’s permanent capital,” said Kevin M. Rendino, Chief Executive Officer of 180. “The combination of these assets under management provides us with a stronger base of capital for our constructive activist investing. We will continue to seek opportunities to add to our asset base and further strengthen our position.”

About 180 Degree Capital Corp.

180 Degree Capital Corp. is a publicly traded registered closed-end fund focused on investing in and providing value-added assistance through constructive activism to what we believe are substantially undervalued small, publicly traded companies that have potential for significant turnarounds. Our goal is that the result of our constructive activism leads to a reversal in direction for the share price of these investee companies, i.e., a 180-degree turn. Detailed information about 180 and its holdings can be found on its website at www.180degreecapital.com.

Press Contact:
Daniel B. Wolfe
180 Degree Capital Corp.
973-746-4500

Forward-Looking Statements

This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see the Company's securities filings filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company's business and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The reference and link to the website www.180degreecapital.com has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release. 180 is not responsible for the contents of third-party websites.

FAQ

What is the significance of the $25 million investment for TURN?

The $25 million investment from a pension fund enhances TURN's capital base for constructive activist investing.

When did TURN register as a Registered Investment Adviser?

TURN announced its registration as a Registered Investment Adviser with the SEC on June 08, 2020.

What is 180 Degree Capital Corp.'s investment strategy?

180 Degree Capital focuses on investing in undervalued small public companies, aiming to enact turnarounds through constructive activism.

How does the new investment affect TURN's shareholder value?

The new investment is expected to strengthen TURN's position and potentially enhance shareholder value through successful activist strategies.