Mount Logan Capital Inc. has secured shareholder approval to move ahead with its merger with 180 Degree Capital Corp., a deal that will create a new publicly traded entity listed on the Nasdaq Capital Market.
At a special meeting held August 21, more than 81% of Mount Logan’s outstanding shares were represented, with near-unanimous support for the resolutions tied to the transaction. The arrangement, which includes Mount Logan’s continuance from Ontario to Delaware and its conversion into a limited liability company, received 99.9% approval. The merger resolution, requiring both a majority and minority vote, also passed with 99% support. Shareholders backed the company’s 2025 Omnibus Incentive Plan with 95% approval.
180 Degree Capital shareholders voted in favor of the merger at their own meeting on August 22.
The combination, first announced in January, is designed to scale up the companies’ investment management platforms and provide broader access to capital markets. Mount Logan, an alternative asset manager focused on private credit and income-oriented strategies, will join forces with 180 Degree Capital, a firm with a history of investing in small, publicly traded companies. The merged entity is expected to benefit from greater market visibility and an expanded investor base through its Nasdaq listing.
The deal reflects a broader trend of consolidation in the asset management sector, as firms seek size and diversification to stay competitive. For Mount Logan, moving from Cboe Canada to Nasdaq could enhance liquidity and attract more institutional investors, while 180 Degree Capital gains access to a larger platform and product set.
Completion of the merger remains subject to customary conditions, including a final order from the Ontario Superior Court of Justice, scheduled for September 2. If approved, the business combination is expected to close later in September.
