180 Degree Capital Corp. Reports Net Asset Value per Share (“NAV”) of $5.16 as of March 31, 2024

MONTCLAIR, N.J., May 13, 2024 (GLOBE NEWSWIRE) -- 180 Degree Capital Corp. (NASDAQ:TURN) (“180 Degree Capital” and the “Company”), today reported its financial results as of March 31, 2024, and noted additional developments from the second quarter of 2024. The Company also published a letter to shareholders that can be viewed at https://ir.180degreecapital.com/financial-results.

“The first quarter of 2024 continued overall positive trends both in terms of increases of our net asset value per share (“NAV”) and microcapitalization-focused indices,” said Kevin M. Rendino, Chief Executive Officer of 180 Degree Capital. “Our +4.7% gross total return in our public portfolio was the primary contributor to the growth of NAV from $5.02 to $5.16. As we noted in our press release on May 1, 2024, the pressure on microcapitalization stocks that began in mid-March 2024 has continued through the second quarter of 2024 to date in the face of strong reports by many of our portfolio companies. We are actively using this period of market softness to align our portfolio with those companies that we believe are in the best positions to perform during this period and to create outsized value for stockholders as capital returns to risk assets. We are also expanding our constructive activism engagements to help our companies be prepared for a favorable market environment for microcapitalization stocks, while making sure that their businesses are well-managed and well-positioned during the current market softness.”

“We continue to view the dislocation between large capitalization stocks and microcapitalization stocks as an opportunity for long-term value creation for TURN’s stockholders,” added Daniel B. Wolfe, President of 180 Degree Capital. “Our permanent capital provides the ability to take advantage of such periods where other funds may be forced to sell due to redemptions and/or lack of inflows of capital. We have used such periods in the past to double-down on those positions that we believe have outsized risk/reward profiles. TURN is a unique investment opportunity for those investors interested in a concentrated portfolio of approximately 10-15 microcapitalization companies overlaid with our constructive activism. We do not believe there is another publicly traded entity that has this combination of attributes.”