180 Degree Capital and Mount Logan Capital Confirm Support for Merger
Reinforcing Shareholder Support for a Major Merger
As recent reports indicate, over 57% of the outstanding shares of 180 Degree Capital Corp. (NASDAQ: TURN) have displayed strong backing for the proposed business combination with Mount Logan Capital Inc. The excitement surrounding this merger reflects the confidence of shareholders who foresee great potential in this collaborative venture.
Progress Towards Merger Approval
On August 14, it was announced that a significant percentage of shareholders from both companies have cast their votes in favor of this monumental change. The upcoming special shareholder meetings, scheduled for August 22, are positioned to solidify the merger as the companies mark critical milestones in the process of uniting their goals and visions.
Engagement and Positive Discussions
Both 180 Degree Capital and Mount Logan have engaged in fruitful discussions with their respective shareholders. These dialogues have reinforced a positive outlook, suggesting that the necessary voting thresholds for the merger will be achieved. Stakeholders have been active participants in this process, clearly showcasing their eagerness to move forward.
Statements from Executives
Kevin Rendino, CEO of 180 Degree Capital, expressed optimism regarding the substantial support, saying, “We are encouraged by the strong level of support we have received from our shareholders. We continue to collaborate with Mount Logan to ensure the combined company is structured to maximize value.”
Mount Logan’s Commitment
Ted Goldthorpe, CEO of Mount Logan, acknowledged the collaborative effort, emphasizing that the voting momentum indicates strong confidence in the rationale behind the merger. The commitment to closing this combination reflects not only mutual goals but also a shared vision of creating long-term value for shareholders.
Looking Ahead: Final Steps and Shareholder Information
The special meetings will be crucial in determining the outcome of the merger. In preparation, shareholders of both firms are being urged to review the joint proxy statement and participate actively in the voting process. Shareholders can obtain the necessary materials and additional information through direct contact with EQ Fund Solutions at 1-800-967-5051 if they have not yet received them.
About the Companies Involved
180 Degree Capital Corp. focuses on fostering value in small, undervalued public companies. The strategy implemented is aimed at facilitating turnarounds through active investment management. Detailed insights into their portfolio can be found on their investor relations website.
Mount Logan Capital Inc., on the other hand, specializes in managing alternative assets and providing investment management services related to public and private securities, further bolstering their position in the capital markets.
Conclusion: The Future Looks Bright
As both companies poised for a potential merger, the forthcoming meetings hold transformative prospects. The strategic alignment of their assets and objectives sends a clear signal of advancing into a new chapter. If approved, this merger could redefine their market presence and commitment to delivering compelling value for all stakeholders.
Frequently Asked Questions
What is the current status of the merger between 180 Degree Capital and Mount Logan Capital?
As of now, significant shareholder support has been confirmed, with meetings scheduled to decide on the merger.
How many shareholders voted in favor of the proposed merger?
Over 57% of 180 Degree Capital's outstanding shares have shown support for the business combination with Mount Logan Capital.
What are the upcoming steps for the merger process?
The next steps include the special meetings scheduled for August 22, where final votes will determine the merger's outcome.
Who can shareholders contact for more information regarding the merger?
Shareholders can contact EQ Fund Solutions at 1-800-967-5051 for any questions or to access voting materials.
What is the main objective of the proposed merger?
The main goal is to create a stronger entity that offers enhanced value and growth potential for shareholders through combined resources and capabilities.
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