Benzinga | Apr 5, 2021 09:05AM EDT

180 Degree Capital Corp. Announces Q1 Gross Total Return Of 28%

80 Degree Capital Corp. (NASDAQ:TURN) ("180") today provided a preliminary update on its performance during the first quarter of 2021.



"We are proud of the performance of our public investments during the first quarter of 2021," said Kevin M. Rendino, Chief Executive Officer of 180. "Our preliminary +28% gross total return equates to an estimated increase in value of approximately +$16.6 million, or +1.60 per share. We ended the quarter with approximately $74.0 million in cash and securities of publicly traded companies, or $7.13 per share, an increase of approximately 24% from the end of 2020. We note that these results include a preliminary fair value of our restricted shares of common and convertible preferred stock (on a converted to common stock basis) of TheMaven, Inc. (MVEN) at $0.7869 per share versus the closing price of MVEN's common stock on March 31, 2021, of $0.91 per share."1