180 Degree Capital Corp. Initiates First Phase of Its Discount Management Program

MONTCLAIR, N.J., Jan. 02, 2024 (GLOBE NEWSWIRE) -- With the aim of enhancing shareholder value, 180 Degree Capital Corp. TURN, a specialized investment firm, has marked the commencement of the inaugural measurement period of its Discount Management Program. This strategic initiative, previously made public, is focused on mitigating the discount on 180's common stock relative to its net asset value (NAV). The program is anticipated to actively engage in buybacks, distributions, and other tactical maneuvers to facilitate this goal.

Objective of the Discount Management Program

The purpose of the Discount Management Program is multifold. Primarily, it seeks to address the market's undervaluation of TURN's assets by narrowing the gap between the trading price of its common stock and the intrinsic NAV. The program is carefully structured to gauge its effectiveness over specific intervals, the first of which has now begun. Investors and analysts are keeping a keen eye on the potential impact of such shareholder-centric policies.

Strategies Employed in The Program

Under the auspices of the Program, TURN will potentially undertake various strategies that could encompass share repurchases in the open market or in privately negotiated transactions, depending on market conditions and available liquidity. Additionally, the deployment of capital through strategic distributions to shareholders, as well as other financial maneuvers, are on the table to promote capital appreciation and reduce the perceived undervaluation.

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