180 Degree Capital and Mount Logan Announce Filing of Preliminary Proxy Statement for Merger
On March 24, 2025, 180 Degree Capital Corp. (180 Degree Capital) made an important announcement regarding its proposed merger with Mount Logan Capital Inc. (Mount Logan). The companies filed a preliminary joint proxy statement/prospectus on Schedule 14A with the Securities and Exchange Commission (SEC). According to the filing, the merger, referred to as the “Business Combination,” will be an all-stock transaction.
Key Points of the Merger
- 180 Degree Capital and Mount Logan have filed a preliminary proxy statement/prospectus with the SEC regarding their proposed merger.
- The surviving entity will be a Delaware corporation named New Mount Logan, listed on Nasdaq under the symbol “MLCI”.
- 180 Degree Capital shareholders will receive proportionate ownership of New Mount Logan based on their shareholdings in 180 Degree Capital and the Net Asset Value (NAV) of 180 Degree Capital at closing.
- The valuation of Mount Logan is approximately $67.4 million at signing, subject to certain pre-closing adjustments.
The merger is expected to result in several benefits for both companies. For 180 Degree Capital, the merger will provide access to Mount Logan’s investment team and expertise, as well as a broader investment platform. Mount Logan, on the other hand, will benefit from 180 Degree Capital’s larger shareholder base and operational infrastructure.
Impact on Shareholders
The merger will result in shareholders of both companies owning shares in the new entity, New Mount Logan. The number of shares each shareholder will receive will be determined by the NAV of 180 Degree Capital at the time of the closing relative to the valuation of Mount Logan. This means that 180 Degree Capital shareholders will receive a larger percentage of New Mount Logan shares if the NAV of 180 Degree Capital is higher at the time of the closing.
Impact on the World
The merger between 180 Degree Capital and Mount Logan is expected to have a minimal impact on the world at large. However, it could potentially lead to increased competition in the investment management industry, as the new entity, New Mount Logan, will have a larger asset base and a broader investment platform.
Conclusion
The filing of the preliminary proxy statement/prospectus for the proposed merger between 180 Degree Capital and Mount Logan marks an important milestone in the process of bringing these two companies together. The merger, which is expected to result in a Delaware corporation named New Mount Logan, will provide several benefits to both companies, including access to new investment opportunities and operational synergies. Shareholders of both companies will receive proportionate ownership of New Mount Logan based on their shareholdings in the respective companies and the NAV of 180 Degree Capital at the time of the closing. The merger is expected to have a minimal impact on the world, but could potentially lead to increased competition in the investment management industry.
As the merger process continues, investors and stakeholders will be closely watching for updates on the closing date and any potential regulatory approvals or other developments. Stay tuned for further updates on this exciting transaction.
