180 Degree shareholders approve merger with Mount Logan Capital

180 Degree Capital (NASDAQ:TURN [https://seekingalpha.com/symbol/TURN]) announced [https://seekingalpha.com/pr/20209361-180-degree-capital-announces-results-of-special-meeting-of-shareholders-to-approve-the] on Friday shareholders' approval for the proposed all-stock merger with Mount Logan Capital (OTCPK:PYCFF [https://seekingalpha.com/symbol/PYCFF]).

The proposal garnered approval from 87.0% of the shareholders, while 12.3% voted against the business combination and 0.7% abstained from casting votes at the special meeting of shareholders held earlier this morning.

The two companies had amended [https://seekingalpha.com/news/4486436-180-degree-capital-mount-logan-revise-merger-deal] the terms of their planned merger in response to feedback from shareholders.

The revised deal gives 180 Degree Capital shareholders a 10% premium to the company’s net asset value (NAV) at closing, up from the original 100% of NAV. This means 180 Degree Capital shareholders will receive a greater number of shares in the newly merged company, to be called "New Mount Logan".

MORE ON 180 DEGREE CAPITAL, MOUNT LOGAN CAPITAL

* 180 Degree Capital, Mount Logan revise merger deal [https://seekingalpha.com/news/4486436-180-degree-capital-mount-logan-revise-merger-deal]
* Historical earnings data for Mount Logan Capital [https://seekingalpha.com/symbol/PYCFF/earnings]
* Dividend scorecard for Mount Logan Capital [https://seekingalpha.com/symbol/PYCFF/dividends/scorecard]
* Financial information for Mount Logan Capital [https://seekingalpha.com/symbol/PYCFF/income-statement]