Mount Logan Capital Inc. and 180 Degree Capital Corp. successfully closed their all-stock strategic business combination
The merged company, Mount Logan Capital Inc., is expected to begin trading on NASDAQ under the symbol 'MLCI'
The closing merger value of approximately US$122.7 million equates to a price per share of MLCI of US$9.43
New Trading Symbol
The merged company will trade on NASDAQ under the symbol 'MLCI'
Ownership Structure
Shareholders of Mount Logan and 180 Degree Capital will own approximately 56.4% and 43.6% of the combined company, respectively
Tender Offer
A tender offer for up to US$15.0 million of MLCI's shares of common stock will be launched by New Mount Logan
- The strategic combination enhances the ability to generate recurring fee and spread-related earnings
- Increased liquidity and opportunity expected as a NASDAQ-listed company
The successful business combination creates a stronger, more diversified platform with enhanced scale and access to U.S. capital markets, poised for growth and value creation.