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 a preliminary gross total return of +5.7% for its public and related portfolio in Q1 2023, outperforming the Russell Microcap Index, which reported a -2.9% return. As of March 31, 2023, the company expects its cash and securities to represent around 88% of its assets, indicating financial stability. The company anticipates a 20% increase in cash and public securities compared to its closing stock price. This transition to public investments is nearly complete, likely reducing the stock price’s discount to net asset value (NAV). A quarterly update call is planned for mid-May 2023.
180 Degree Capital Corp. (NASDAQ: TURN) has initiated a campaign urging the resignation of Brent Rosenthal from SCOR's Board of Directors, demanding a board member with capital markets success to defend common shareholder rights. With a 6% stake in SCOR, 180 seeks transparency in the potential for a special dividend and advocates for reduced board fees and a smaller board size due to perceived excessive compensation. The firm argues that current compensation structures favor board members over common shareholders and threatens legal action if fiduciary duties are disregarded. 180 believes that converting preferred dividends to common stock could unlock value for all stakeholders.
180 Degree Capital Corp. (NASDAQ:TURN) reported a significant increase in its estimated net asset value per share (NAV) to $7.08 as of February 23, 2023, marking a 12% rise from the end of 2022. The company's holdings are now comprised of 87% public assets and only 13% legacy private companies, which has contributed to a gross total return of approximately 14.8% from the end of 2022. The performance outpaces the Russell Microcap Index’s return of 7.0%. CEO Kevin M. Rendino expressed optimism for 2023 following a challenging previous year. A conference call will be held on February 28, 2023, to discuss Q4 2022 results and Q1 2023 developments.
180 Degree Capital Corp. (TURN) reported a net asset value (NAV) of $6.32 per share as of December 31, 2022, declining from $8.10 due to significant write-downs in its legacy private portfolio, particularly from AgBiome and D-Wave Quantum. The legacy portfolio caused 71% of the NAV decline. Despite a tough 2022, the NAV increased to approximately $7.08 as of February 23, 2023. The company holds 86% of total investment assets in public markets and expects cash payments from TARA Biosystems' acquisition totaling $2.4 million in 2023-2024. A conference call to discuss Q4 2022 results is scheduled for February 28, 2023.
180 Degree Capital Corp. (NASDAQ: TURN) will release its fourth quarter 2022 financial results on February 27, 2023, post-market close. A conference call is scheduled for February 28, 2023, at 9 am ET to discuss these results and Q1 2023 updates. Investors can join the call using the U.S. domestic number (609) 746-1082, with international numbers available on their website. This registered closed-end fund specializes in investing in undervalued small-cap companies, aiming for substantial turnarounds. More details can be found at www.180degreecapital.com.
180 Degree Capital Corp. (NASDAQ:TURN) announced Parabellum Acquisition Corp.'s intent to merge with EnOcean GmbH, creating EnOcean Holdings, N.V. The merger values EnOcean at an equity value of $120 million, with 180 Degree holding about 825,000 shares and 2.7 million warrants post-transaction. Parabellum's trust account currently has $146.5 million in proceeds available. The deal, approved by both parties, is expected to close in the first half of 2023, pending customary conditions, including Parabellum shareholder approval.
180 Degree Capital Corp. (NASDAQ: TURN) reported financial results for Q3 2022, highlighting a 3.0% decline in net asset value (NAV) and a -2.9% gross total return for its public and related portfolio. The company noted that approximately 80% of its total assets are in cash and public securities, with $17.5 million in legacy private holdings. Despite the challenging market conditions, management expressed confidence in their strategy and intentions to grow assets to at least $200 million. A conference call to discuss these results is scheduled for November 8, 2022.
MONTCLAIR, N.J., Nov. 04, 2022 - 180 Degree Capital Corp. (NASDAQ: TURN) is set to announce its Q3 2022 financial results on November 7, 2022, after market close. A conference call will follow on November 8, 2022, at 9 AM ET to discuss these results and updates for Q4 2022. Interested parties can join via U.S. and international dial-ins or through a webcast. The company focuses on investing in undervalued small companies, aiming for significant share price turnarounds through constructive activism. More details are available on their investor relations website.
180 Degree Capital Corp. (NASDAQ:TURN) reported preliminary results for Q3 2022, with cash and securities totaling $67.5 million or $6.51 per share. The net asset value (NAV) per share is expected to be approximately $8.06-$8.10, showing a minor decrease from the previous quarter. Despite the challenging market, the company believes it has flexibility for value creation and substantial upside potential in its holdings. Management has increased their personal investments in the company, underscoring their commitment to shareholder interests.
180 Degree Capital Corp. (NASDAQ: TURN) reported a challenging Q2 2022, with a 14.9% decline in net asset value (NAV) and a -19.0% total return in its public portfolio. Despite positive developments in some holdings, the overall market conditions led to significant value drops. The company remains optimistic about future investments, aiming for a NAV of $200 million over time. Recent transactions include selling milestone payments for $12.3 million and holding shares in newly listed D-Wave Quantum, Inc.
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