180 Degree Capital Corp. (NASDAQ:TURN) is one of the Best Penny Asset Management Stocks to Buy Now. On August 15, 180 Degree Capital Corp. (NASDAQ:TURN) released an update regarding the planned business combination with Mount Logan Capital.
Management announced that as of August 14, 2025, more than 57% of the outstanding shares of the company voted in favour of the business combination. This figure represents 90% of the shares that participated in the voting. Moreover, around 50% of all the shareholders of 180 Degree Capital Corp. (NASDAQ:TURN) have voted for other proposals that are to be discussed in the upcoming shareholders’ meeting on August 22.
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On the other hand, Mount Logan Capital has already received above threshold votes, known as proxies, to go ahead with the resolution of this deal. Both companies are engaging in dialogues and are optimistic that, with shareholders’ support, they would be able to combine their businesses to form a new company.
180 Degree Capital Corp. (NASDAQ:TURN) is a closed-end investment company that manages its own investments. The company aims to generate capital growth and current income through investing in various industries.
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Disclosure: None. This article is originally published at Insider Monkey.