180 Degree Capital shareholder issues statement on Mount Logan combination

Marlton Partners, beneficial owners of approximately 5.8% of the outstanding stock of 180 Degree Capital (TURN) issued the following statement in response to the business combination of the company and Mount Logan Capital, which was completed under revised terms on September 12. “Marlton has strong conviction in the significant value embedded in closed-end vehicles such as TURN. The revised terms of this transaction – which were driven by Marlton’s pressure on management and deliver 110% of Net Asset Value to TURN shareholders – represent a clear market affirmation of that value. We are gratified that Mount Logan recognized the importance of delivering a premium to NAV, a point we have emphasized since the deal’s announcement in January. We are also pleased that the revised terms include a 60-day tender offer, which provides TURN shareholders with a defined, near-term path to realize partial liquidity. Throughout this process, Marlton’s focus has been on ensuring that all TURN shareholders realize the full value of their investment. We expect the combined Mount Logan Board and management to provide timely, predictable, and equitable liquidity opportunities that go beyond the minimum requirements.”