In order to proceed with its merger with 180 Degree Capital Corp., which will result in the creation of a new publicly traded company listed on the Nasdaq Capital Market, Mount Logan Capital Inc. has obtained shareholder approval.
More than 81% of Mount Logan’s outstanding shares were represented at a special meeting on August 21. The motions related to the transaction were almost unanimously supported. 99.9% of voters approved the deal, which included Mount Logan’s continuation from Ontario to Delaware and its transformation into a limited liability company. With 99% support, the merger resolution—which needed both a majority and minority vote—passed as well. 95% of shareholders approved the company’s 2025 Omnibus Incentive Plan.
On August 22, 180 Degree Capital shareholders held their own meeting and voted in support of the transaction.
The merger, which was first revealed in January, aims to expand access to capital markets and scale up the companies’ investment management systems. 180 Degree Capital, a company that has experience investing in small, publicly traded businesses, will partner with Mount Logan, an alternative asset manager that specializes in private credit and income-oriented strategies. Through its Nasdaq listing, the combined company is anticipated to gain increased market awareness and a larger investor base.
As companies look for size and diversification to remain competitive, the purchase underscores a larger trend of consolidation in the asset management industry. By switching from Cboe Canada to Nasdaq, Mount Logan may be able to increase liquidity and draw in more institutional investors, while 180 Degree Capital will have access to a wider range of products and a broader platform.
Customary requirements, such as a final decision from the Ontario Superior Court of Justice on September 2, still need to be met before the merger can be completed. The corporate combination is anticipated to close later in September if it is allowed.
