180 Degree Capital Corp. Reports Net Asset Value Per Share (“NAV”) of $4.50 as of June 30, 2024

MONTCLAIR, N.J., Aug. 19, 2024 (GLOBE NEWSWIRE) — 180 Degree Capital Corp. (NASDAQ:TURN) (“180 Degree Capital” and the “Company”) today reported financial results as of June 30, 2024 and provided additional developments from the third quarter of 2024. The Company also published a letter to shareholders that can be viewed at https://ir.180degreecapital.com/financial-results.

“Our portfolio holdings were not immune to the market turbulence that resumed in Q2 2024, particularly for small- and micro-cap stocks,” said Kevin M. Rendino, Chief Executive Officer of 180 Degree Capital. “Capital continues to flow out of small- and micro-capitalization stocks and into a small number of large-cap companies. I have seen periods of dislocation similar to this during my 35-plus year career. If history repeats itself, each of these dislocations will likely at some point return to more normalized market breadth and capital returns to small- and micro-capitalization stocks. These movements can be rapid and volatile, as we saw in the first part of Q3 2024. While past trends are no guarantee of what the future will bring, we believe this is no different. We believe our portfolio companies are well positioned to execute and that this, combined with the return of capital to small- and micro-cap companies, could result in material appreciation of our net asset value during this and future investment cycles.”