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) 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.
180 Degree Capital Corp. (NASDAQ: TURN) will report its Q2 2022 financial results on August 8, 2022, after market close. A conference call to discuss these results and updates from Q3 2022 will be held on August 9, 2022, at 9am ET. Investors can join the discussion using the U.S. domestic dial-in number (609) 746-1082 or via webcast. The company focuses on investing in and offering assistance to undervalued small public companies, aiming for significant turnarounds in their valuations.
180 Degree Capital Corp. (NASDAQ: TURN) reported preliminary Q2 2022 financial results, revealing a net asset value per share (NAV) decline of approximately 14.5-15% to around $8.30-8.35, less severe than the 19% decline in the Russell Microcap Index. The company holds $62.7 million in cash and securities, approximately $6.04 per share. CEO Kevin Rendino emphasized the importance of maintaining cash reserves during market volatility. The official Q2 update call is scheduled for August 9, 2022.
180 Degree Capital Corp. (NASDAQ:TURN) issued an open letter to Comscore's Board and Preferred Stockholders highlighting concerns over governance and fiduciary duties. The letter calls for alignment of interests between common and preferred stockholders, improvements in Board independence, completion of CEO transition, and renegotiation of a significant contract with Charter. The company emphasizes the need for decisive actions to enhance shareholder value and ensure the Board prioritizes the interests of common stockholders over preferred stockholders, as mandated by Delaware law.
180 Degree Capital Corp. (NASDAQ:TURN) announced the receipt of $12.3 million in cash, equivalent to $1.19 per share, following the sale of its rights to potential future milestone payments from Eli Lilly's acquisition of Petra Pharma Corporation. CEO Kevin M. Rendino noted that this addition strengthens the company's balance sheet, allowing it to pursue attractive investment opportunities that could yield over 100% returns in three years. This milestone represents significant progress in 180's financial strategy since its inception in 2017.
180 Degree Capital Corp. (NASDAQ: TURN) recently issued an open letter expressing concerns about Comscore, Inc. (SCOR) following its removal from the Russell indices, which led to significant value loss for common stockholders. Holding a substantial stake in SCOR, 180 Degree Capital criticized the Board's alignment with preferred stockholders' interests, noting that the structure incentivizes cash extraction from the company without benefiting common shareholders. They advocate for converting preferred shares to common stock to restore value and maintain index membership.
180 Degree Capital Corp. (NASDAQ:TURN) reported a challenging Q1 2022, with an 8% decline in NAV and a -14.8% gross total return from its public portfolio. However, the company's legacy private portfolio rose by $3.3 million. Positive developments included the sale of Petra Pharma milestone payments and a $76.6 million first payment from TARA Biosystems, translating to $7.38 per share. CEO Kevin Rendino emphasized the firm's focus on identifying small-cap investment opportunities despite current market volatility.
180 Degree Capital Corp. (NASDAQ: TURN) will announce its Q1 2022 financial results on May 11, 2022, after market close. A conference call is scheduled for May 12, 2022, at 9 AM ET to discuss these results and updates for Q2 2022. Investors can access the call via U.S. Dial-In at (609) 746-1082 or through international numbers listed online. The meeting will also be webcast, with materials available post-call on the company's investor relations site. 180 Degree Capital focuses on investing in undervalued small companies to drive share price turnarounds.
On April 28, 2022, 180 Degree Capital Corp. (NASDAQ: TURN) announced the sale of its rights to potential future milestone payments from Eli Lilly's acquisition of Petra Pharma for $12.3 million, equating to $1.19 per share. These milestone payments were valued at $7.6 million as of December 31, 2021. The sale reflects 180's strategic shift towards public market investments, positioning them to hold approximately 83% of its cash and investments in cash and public securities. The company aims to reduce the discount of its stock to its net asset value (NAV).
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