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.
The news feed for 180 Degree Capital Corp. (NASDAQ: TURN) captures the company’s transition from a standalone closed-end fund focused on constructive activism in small public companies to its role in a completed business combination with Mount Logan Capital Inc. Investors can review announcements that describe how TURN invested in substantially undervalued small, publicly traded companies and sought to drive a 180-degree turn in share price performance through active engagement with management teams and boards.
Coverage includes detailed updates on the all-stock strategic Business Combination between 180 Degree Capital and Mount Logan, which closed on September 12, 2025. News items explain shareholder approval of the merger, the structure of the combined company as Mount Logan Capital Inc., and the expectation that the surviving Delaware corporation trades on The Nasdaq Capital Market under the ticker symbol "MLCI." Articles also describe how TURN shareholders receive shares in the combined entity based on 180 Degree Capital’s net asset value and a specified valuation for Mount Logan.
Readers will find reports on proxy filings, special shareholder meetings, and voting results related to the merger, as well as commentary from significant TURN shareholders about the transaction terms and the premium to net asset value embedded in revised merger conditions. Additional updates highlight 180 Degree Capital’s communications about its net asset value, portfolio performance, and developments at portfolio companies, including how such events affect TURN’s NAV heading into the Business Combination.
By following this news stream, users can trace TURN’s historical activism-focused investment activities, the negotiation and approval of its combination with Mount Logan, and the creation of a broader alternative asset management and insurance solutions platform. This makes the TURN news page a useful archive for understanding both the company’s legacy as a closed-end fund and the context for its integration into Mount Logan Capital Inc.
180 Degree Capital Corp. (NASDAQ: TURN) reported an average discount between its estimated daily net asset value per share (NAV) and stock price of approximately 21% in November 2024 and 20% year-to-date through November. The company's NAV increased by approximately 26% in November, driven by the successful sale of Brightcove (BCOV) to Bending Spoons for $233 million and strategic portfolio management. The company also benefited from the sale of its Quantum (QMCO) position during a significant price rally. Management highlighted their 12.7% ownership position and track record of approximately +212% gross total return on public portfolio holdings since 2017, compared to the Russell Microcap Index's +79%.
180 Degree Capital (NASDAQ:TURN) announced that its portfolio company Brightcove (BCOV) has entered into a definitive agreement to be acquired by Bending Spoons for approximately $233 million, or $4.45 per share. 180 Degree Capital owns approximately 1.35 million shares of BCOV. The company views this acquisition as validation of their investment thesis in BCOV, which was based on the company's strong balance sheet, differentiated platform, and recurring revenue. This aligns with 180 Degree Capital's strategy of investing in undervalued companies with strong management teams and potential for material value appreciation.
180 Degree Capital Corp. (NASDAQ:TURN) reported a Net Asset Value Per Share of $4.40 as of September 30, 2024. The company's Q3 2024 performance showed mixed results with public portfolio gross total return of -0.4% for the quarter and -6.3% YTD. The NAV declined -2.2% in Q3 and -12.4% YTD, while the stock price decreased -11.0% and -17.7% respectively. Despite challenging conditions in small and microcapitalization stocks, management expressed optimism about market opportunities, citing historically low valuations and positive reports from major holdings during the earnings cycle.
180 Degree Capital Corp (NASDAQ: TURN) reported an average discount of approximately 20% between its estimated daily net asset value per share and stock price during October 2024 and year-to-date through October. The company's Board is evaluating this discount under its Discount Management Program, with two measurement periods: Jan-Dec 2024 and Jan-Jun 2025. If the average daily discount exceeds 12%, the Board will consider options including expanding its $5 million stock buyback program, cash distributions, tender offers, or other strategic alternatives.
180 Degree Capital Corp. (NASDAQ:TURN) announced its preliminary net asset value per share (NAV) of $4.40 as of September 30, 2024. The company plans to report full Q3 2024 results and host a conference call during the week of November 11, 2024. Management expressed concern about the current share price not reflecting the company's NAV or long-term growth prospects. The company has increased its activism and involvement with portfolio companies to drive value creation, implementing a Discount Management Program and other strategic efforts to enhance shareholder value.
180 Degree Capital Corp. (NASDAQ: TURN) reported an average discount of approximately 21% between its estimated daily net asset value per share (NAV) and its daily closing stock price in September 2024. The year-to-date average discount through September 2024 was about 20%, with a 24% discount on September 30, 2024. The company's Board of Directors is evaluating options under its Discount Management Program, which could include expanding the stock buyback program, cash distributions, or a tender offer if the average daily discount exceeds 12% during specified measurement periods.
CEO Kevin M. Rendino noted a potential shift in sentiment towards small-cap stocks, partly due to the Fed's interest rate reduction. The company believes the current discount to NAV doesn't reflect the potential upside of its portfolio. President Daniel B. Wolfe emphasized that no decisions have been made regarding ending the first measurement period early or taking specific actions, and the Board will prioritize the interests of all shareholders in any decisions made.
180 Degree Capital Corp. (NASDAQ: TURN) reported an average discount of 21% between its estimated daily net asset value per share (NAV) and daily closing stock price in August 2024, with a year-to-date average of 19%. The company's Board of Directors is evaluating this discount as part of its Discount Management Program, which could lead to actions such as expanding the stock buyback program, cash distributions, or a tender offer if the average daily discount exceeds 12% during specified measurement periods.
CEO Kevin M. Rendino emphasized that long-term investors support the company's belief in the potential upside of its current portfolio, despite the recent bear market for small-cap stocks. The company aims to balance addressing the trading discount with preserving long-term value creation potential.
180 Degree Capital Corp. (NASDAQ:TURN) reported its financial results for Q2 2024, with a Net Asset Value Per Share (NAV) of $4.50 as of June 30, 2024. The company experienced a decline in NAV of 12.8% for the quarter and a 10.4% decrease year-to-date. CEO Kevin M. Rendino acknowledged the impact of market turmoil on their portfolio, particularly affecting small and microcapitalization stocks. Despite the challenges, the company remains optimistic about future opportunities and has positioned itself to take advantage of potential catalysts in the second half of 2024 or early 2025.
The company's public portfolio saw a gross total return of -10.2% for Q2 2024. 180 Degree Capital continues to focus on constructive activism to help unlock value in its investments. A conference call is scheduled for August 20, 2024, to discuss Q2 2024 results and recent developments.
180 Degree Capital Corp. (NASDAQ: TURN) has announced it will release its second quarter 2024 financial results on Monday, August 19, 2024, after market close. The company will host a conference call on Tuesday, August 20, 2024, at 9am Eastern Time to discuss these results and provide updates for Q3 2024. Kevin M. Rendino, CEO, and Daniel B. Wolfe, President, will lead the call. Rendino expressed excitement about returning to work and thanked the board for their leadership during his absence. The company has provided dial-in information and a webcast link for shareholders to join the call. Presentation materials and a replay of the meeting will be available on the company's investor relations website.
180 Degree Capital Corp. (NASDAQ:TURN) has reached a cooperation agreement with Lantronix, Inc. (LTRX) to nominate Narbeh Derhacobian and Kevin Palatnik as directors at LTRX's upcoming 2024 Annual Meeting of Stockholders. 180 Degree Capital, a long-time investor in LTRX, views this as a constructive outcome of their engagement with LTRX's management and board. The company believes LTRX is undervalued and sees similarities with their previous portfolio company, Adesto Technologies. 180 Degree Capital expects the nominees to bring valuable experience that can help build substantial value for all LTRX stakeholders. LTRX's CEO, Saleel Awsare, expressed appreciation for the collaborative relationship with 180 Degree Capital and the potential of the new nominees to help grow shareholder value.
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