Mount Logan Capital Inc. and 180 Degree Capital Corp. have successfully completed their all-stock strategic business combination, forming New Mount Logan with the ticker symbol “MLCI” on NASDAQ. The closing merger value is approximately US$122.7 million, with a price per share of US$9.43. The combined company will have about 13 million outstanding shares, with Mount Logan and 180 Degree Capital shareholders owning 56.4% and 43.6% of the company, respectively. New Mount Logan plans to launch a tender offer for up to US$15.0 million of MLCI shares and additional tenders of up to US$10.0 million over 24 months.

The merger is a significant milestone for Mount Logan, creating a stronger, more diversified platform with access to U.S. capital markets. The company aims to generate recurring fee and spread-related earnings, providing value to shareholders and partners. New Mount Logan plans liquidity programs totaling up to US$25.0 million following the merger. Advisors for the merger included Dechert LLP, Wildeboer Dellelce LLP, and Oppenheimer & Co. for Mount Logan, and Fenchurch Advisory US, LP, and Katten Muchin Rosenman LLP for 180 Degree Capital.

Mount Logan Capital Inc. focuses on alternative asset management and insurance solutions in North America. Its subsidiaries manage public and private debt securities and reinsurance of annuity products. ML Management, registered with the SEC, provides investment management services, while Ability Insurance Company reinsures long-term care policies. Mount Logan aims to invest in credit-oriented instruments with low risk of principal impairment. For more information, visit www.mountlogancapital.ca.

Read more at GlobeNewswire: Mount Logan Capital Inc. and 180 Degree Capital Corp. Close