180 Degree Capital noted that the average discount between its estimated daily net asset value per share and its daily closing stock price during March 2024 and year-to-date through the end of March 2024, were approximately 20% and 22%, respectively.1 This discount was approximately 16% on March 31, 2024. As previously disclosed in a press release on November 13, 2023, 180 Degree Capital’s Board of Directors has set two measurement periods of January 1, 2024 to December 31, 2024, and January 1, 2025 to June 30, 2025, in which it will evaluate the average discount between TURN‘s estimated daily NAV and its closing stock price pursuant to a Discount Management Program. Should TURN’s common stock trade at an average daily discount to NAV of more than 12% during either of these measurement periods, 180 Degree Capital’s Board will consider all available options at the end of each measurement period including, but not limited to, a significant expansion of 180 Degree Capital’s current stock buyback program of up to $5 million, cash distributions reflecting a return of capital to shareholders, or a tender offer.
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