180 Degree Capital (TURN) provided the following update regarding the progress of its proposed merger with Mount Logan Capital in an all-stock transaction. On May 6, 2025, the company filed an amended preliminary proxy statement that contained a full set of audited financial statements of Mount Logan Capital. As Mount Logan is currently a Canadian issuer, Mount Logan was required to convert its prior financial statements, which were audited in accordance with IFRS, into U.S. GAAP compliant financial statements in order to meet SEC requirements. Concurrent with the filing of our amended preliminary proxy materials, Yukon Parent, the legal acquiror in the Business Combination, filed an amended registration statement on Form S-4 to register the issuance of the shares to both 180 Degree and Mount Logan shareholders in connection with the Business Combination. Both the 180 Degree Proxy Statement and the Form S-4 are presently going through the standard SEC review process that is typical of mergers involving public companies such as 180 Degree. The company said, “While we cannot assure shareholders of the exact time that we will clear SEC comments, we remain hopeful that we will commence the solicitation process and hold our special meeting for shareholders to vote to approve the proposed Business Combination during the third quarter of 2025.”
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