Group 1 - 180 Degree Capital Corp's Board of Directors evaluated a non-binding proposal from Source Capital and determined it does not meet the criteria of a TURN Superior Proposal as defined in the Merger Agreement [1] - The Board reaffirms its support for the strategic business combination with Mount Logan Capital, believing it to be in the best interests of all shareholders [2] - The proposed merger is expected to provide unique and value-creating benefits as outlined in a joint investor presentation [2] Group 2 - 180 Degree Capital is a publicly traded closed-end fund focused on investing in undervalued small companies with turnaround potential [3] - The company aims to create value through constructive activism, leading to a significant increase in share price [3] - Mount Logan Capital specializes in alternative asset management and insurance solutions, focusing on public and private debt securities in North America [4] Group 3 - ML Management, a subsidiary of Mount Logan, provides investment management services and is registered with the SEC as an investment adviser [5] - Ability Insurance Company, also part of Mount Logan, reinsures long-term care policies and annuity products [6] - 180 Degree Capital plans to file a proxy statement and registration statement with the SEC in connection with the business combination [8]
180 Degree Capital Corp. Responds to Non-Binding Proposal from Source Capital