180 Degree Capital Corp. Notes Accident Involving its Chief Executive Officer, Kevin M. Rendino

Rhea-AI Summary

180 Degree Capital Corp. (NASDAQ:TURN) has announced that its CEO and Co-Portfolio Manager, Kevin M. Rendino, was involved in an accident and is currently receiving treatment. His doctors report a positive recovery prognosis. The company's operations continue as usual under the management of Daniel B. Wolfe, President and Co-Portfolio Manager.

While the company has not provided specific details about the accident or Rendino's injuries, they have assured stakeholders that business operations remain in full force. 180 Degree Capital Corp. has stated that they will provide updates as more information becomes available.

Positive

• Business operations continue as usual under management of President and Co-Portfolio Manager
• CEO's recovery prognosis is reported as positive by doctors

Negative

• CEO and Co-Portfolio Manager involved in accident and currently receiving treatment

News Market Reaction

-1.12%

1 alert

-1.12% News Effect

On the day this news was published, TURN declined 1.12%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

MONTCLAIR, N.J., July 24, 2024 (GLOBE NEWSWIRE) -- 180 Degree Capital Corp. (NASDAQ:TURN) (“180 Degree Capital”, “our”, “us”, and “we”) today announced that its Chief Executive Officer and Co-Portfolio Manager, Kevin M. Rendino, was involved in an accident and is currently receiving treatment for his injuries. His doctors have informed us that he is responding well to treatments and his current recovery prognosis is positive. Our thoughts are with him and his family. We will provide updates as more information becomes available. 180 Degree Capital also affirms that its business operations remain in full force and are continuing as usual under the management of Daniel B. Wolfe, 180 Degree Capital’s President and Co-Portfolio Manager.

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
Robert E. Bigelow
180 Degree Capital Corp.
973-746-4500
ir@180degreecapital.com

Mo Shafroth
RF Binder
Morrison.shafroth@rfbinder.com

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 happened to 180 Degree Capital Corp.'s CEO Kevin M. Rendino?

Kevin M. Rendino, CEO of 180 Degree Capital Corp. (NASDAQ:TURN), was involved in an accident and is currently receiving treatment for his injuries.

How is 180 Degree Capital Corp. (NASDAQ:TURN) managing operations after the CEO's accident?

180 Degree Capital Corp. affirms that business operations are continuing as usual under the management of Daniel B. Wolfe, the company's President and Co-Portfolio Manager.

What is the current status of Kevin M. Rendino's recovery?

According to 180 Degree Capital Corp., Kevin M. Rendino's doctors have reported that he is responding well to treatments and his current recovery prognosis is positive.

Will 180 Degree Capital Corp. (NASDAQ:TURN) provide updates on Kevin M. Rendino's condition?

Yes, 180 Degree Capital Corp. has stated that they will provide updates as more information becomes available regarding Kevin M. Rendino's condition.