{"id":808910,"date":"2025-02-04T19:34:05","date_gmt":"2025-02-05T00:34:05","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/source-capital-responds-to-180-degree-capital-corp\/"},"modified":"2025-02-04T19:34:05","modified_gmt":"2025-02-05T00:34:05","slug":"source-capital-responds-to-180-degree-capital-corp","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/source-capital-responds-to-180-degree-capital-corp\/","title":{"rendered":"Source Capital Responds to 180 Degree Capital Corp."},"content":{"rendered":"

<\/p>\n

Source Capital Responds to 180 Degree Capital Corp.<\/b><\/p>\n

LOS ANGELES–(BUSINESS WIRE<\/a>)–
\nSource Capital (NYSE: SOR), a closed-end fund (\u201cSource<\/b>\u201d), is disappointed that the Board of Directors of 180 Degree Capital Corp. (NASDAQ: TURN) (\u201cTURN<\/b>\u201d) quickly rejected Source\u2019s non-binding initial proposal in three business days without any dialogue with Source to reach an agreement that would maximize value for all TURN shareholders.<\/p>\n

\nThe market reacted positively to Source\u2019s proposal, and at least one of TURN\u2019s large shareholders has publicly urged TURN to engage with Source.<\/p>\n

\nSource remains committed to a potential merger and hopes to work constructively with TURN\u2019s Board of Directors.<\/p>\n

Forward-Looking Statements<\/b><\/p>\n

\nCertain statements contained in this letter are forward-looking and\/or based on current expectations, projections, and information currently available. Future events or results may vary significantly from those expressed and are subject to change at any time in response to changing circumstances and industry developments. The information and data contained herein has been prepared from public sources believed reliable. We disclaim any obligation to update or alter any forward-looking statements, whether as a result of new information, future events, or otherwise.<\/p>\n

Important Information and Where to Find it<\/b><\/p>\n

\nIf the proposed transaction is fully negotiated in a mutually acceptable form, Source intends to file with the SEC on Form N-14 and mail to TURN\u2019s shareholders a joint proxy statement\/prospectus (the \u201cJoint Proxy Statement\u201d), which would serve as a proxy statement for TURN and a registration statement for Source. The Joint Proxy Statement would contain important information about Source, TURN, the merger and related matters. This letter does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. IF THE TRANSACTION PROCEEDS, SHAREHOLDERS OF TURN ARE URGED TO READ THE JOINT PROXY STATEMENT AND OTHER DOCUMENTS THAT MAY BE FILED WITH THE SEC AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS CAREFULLY AND IN THEIR ENTIRETY WHEN OR IF THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT SOURCE, TURN, THE MERGE AND RELATED MATTERS. Investors and security holders will be able to obtain the documentation filed with the SEC free of charge at the SEC\u2019s website, http:\/\/www.sec.gov<\/a> or by directing a request to:<\/p>\n

\nC\/O UMB FUND SERVICES, INC.
\n
235 WEST GALENA STREET
\n
MILWAUKEE, WISCONSIN 53212<\/p>\n

Participation in the Solicitation<\/b><\/p>\n

\nSource, its trustees, certain of its executive officers and certain employees and officers of FPA may be deemed to be participants in the solicitation of proxies in connection with the merger. Information about Source, its trustees, certain of its executive officers and certain employees and officers of FPA will, if an agreement is reached, be set forth in the Joint Proxy Statement. These documents may be obtained free of charge from the sources indicated above. None of Source, FPA, nor to FPA\u2019s knowledge, any of their respective officers, directors or trustees, owns any securities of TURN. <\/b>Information regarding Source Capital\u2019s officers and trustees is available in the Section entitled \u201cProposal 1\u2014Election of the Board\u201d in Source\u2019s Definitive Proxy Statement on Schedule 14A<\/a>, filed with the Securities and Exchange Commission on April 19, 2024. Information regarding FPA and its officers and directors is available in Schedule A to its Form ADV Part 1A<\/a>.<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20250204132571\/en\/<\/a><\/span><\/p>\n

Media:<\/b> Tucker Hewes, Hewes Communications, Inc., 212-207-9451, tucker@hewescomm.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America California<\/p>\n

INDUSTRY KEYWORDS:<\/b> Asset Management Professional Services Finance<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

Source Capital Responds to 180 Degree Capital Corp. LOS ANGELES–(BUSINESS WIRE)– Source Capital (NYSE: SOR), a closed-end fund (\u201cSource\u201d), is disappointed that the Board of Directors of 180 Degree Capital Corp. (NASDAQ: TURN) (\u201cTURN\u201d) quickly rejected Source\u2019s non-binding initial proposal in three business days without any dialogue with Source to reach an agreement that would maximize value for all TURN shareholders. The market reacted positively to Source\u2019s proposal, and at least one of TURN\u2019s large shareholders has publicly urged TURN to engage with Source. Source remains committed to a potential merger and hopes to work constructively with TURN\u2019s Board of Directors. Forward-Looking Statements Certain statements contained in this letter are forward-looking and\/or based on current expectations, projections, and information currently … <\/p>\n

Continue reading “Source Capital Responds to 180 Degree Capital Corp.”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-808910","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSource Capital Responds to 180 Degree Capital Corp. - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/source-capital-responds-to-180-degree-capital-corp\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Source Capital Responds to 180 Degree Capital Corp. - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Source Capital Responds to 180 Degree Capital Corp. 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