180 Degree Capital Corp. and Mount Logan Capital Inc. have announced strong shareholder support for their proposed business combination.  

As of Aug. 14, more than 57% of outstanding shares of 180 Degree Capital have voted in favor of the deal, covering over 90% of votes cast so far. Meanwhile, Mount Logan has secured proxies exceeding the necessary thresholds to approve the transaction. 

“We are encouraged by the strong level of support we have received from our shareholders,” said Kevin Rendino, chief executive officer of 180 Degree Capital.  

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“We continue to work collaboratively with Mount Logan and our investors to ensure the combined company launches with the right structure and governance to support value realization.” 

Similarly, Ted Goldthorpe, CEO of Mount Logan, affirmed the vote momentum: “It underscores confidence in the business logic of this combination. We remain focused on closing and on positioning New Mount Logan for long-term value creation.” 

The special shareholder meetings to approve the merger are scheduled for Aug. 22. 

The merger comes at a time of heightened consolidation in asset management and alternative investment sectors, as firms look to build scale, diversify offerings, and expand into insurance-linked solutions. It aims to create a U.S.-exchange listed platform with combined assets under management exceeding US$2.4 billion for long-term value creation in investment management and insurance solutions. 

Founded in 1981 and headquartered in Montclair, New Jersey, 180 Degree Capital Corp. is a publicly traded registered closed-end fund focused on investing in undervalued small publicly traded companies. Its strategy involves constructive activism aimed at turning around these companies to generate capital appreciation, often described as a "180-degree turn."  

Mount Logan Capital Inc., meanwhile, is an alternative asset management and insurance solutions company specializing in public and private debt securities across North America. Its subsidiaries include Mount Logan Management LLC, an SEC-registered investment adviser managing multiple investment funds, and Ability Insurance Company, a reinsurer focused on annuity products with a unique long-term care morbidity reinsurance portfolio.  

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