Core Insights - 180 Degree Capital Corp. reported an average discount of approximately 21% between its estimated daily net asset value (NAV) per share and its daily closing stock price for November 2024, and 20% year-to-date through the end of November 2024, with a specific discount of 26% noted on November 29, 2024 [1][2] Discount Management Program - The Board of Directors has established two measurement periods from January 1, 2024, to December 31, 2024, and from January 1, 2025, to June 30, 2025, to evaluate the average discount between NAV and stock price [2] - If the average daily discount exceeds 12% during these periods, the Board will consider options such as expanding the stock buyback program up to 233 million, translating to 2.55 per share [3] - The company actively managed its portfolio, increasing positions on weakness and monetizing its stake in Quantum Corporation, which saw a price surge from 21.77 per share [3] - The management and Board hold a 12.7% ownership position, indicating alignment of interests in driving stock price increases and shareholder value [3] Historical Performance - Since its inception in 2017 through November 30, 2024, the gross total return on public portfolio holdings was approximately +212%, significantly outperforming the Russell Microcap Index, which had a total return of +79% [3] - The decline in NAV of approximately 31% over the same period was primarily due to decreases in the legacy private portfolio, while public market performance has been the main source of value creation [3] Company Overview - 180 Degree Capital Corp. is a publicly traded closed-end fund focused on investing in undervalued small publicly traded companies, aiming for significant turnarounds through constructive activism [4]
180 Degree Capital Corp. Notes Average Discount of Net Asset Value per Share to Stock Price for Eleventh Month of Initial Measurement Period of Its Discount Management Program