180 Degree Capital Corp. Reports +7.4% Growth and $2.90 Per Share NAV as of September 30, 2020, and Developments From Q4 2020

MONTCLAIR, N.J., Nov. 18, 2020 (GLOBE NEWSWIRE) -- 180 Degree Capital Corp. (NASDAQ:TURN) (“180” and the “Company”), today reported its financial results as of September 30, 2020, and additional developments from the fourth quarter of 2020. The Company also published a letter to shareholders that can be viewed at https://ir.180degreecapital.com/financial-results.

“Q3 2020 continued off of our strong performance in Q2 2020,” said Kevin M. Rendino, Chief Executive Officer of 180. “Our investments in public companies produced strong gains that were offset in part by weakness in our investments in private companies. On the public side, our gross total return of +25.4% was solid on an absolute return basis and in relation to the Russell Microcap Index total return of +3.7% and the Russell Microcap Value Index total return of +3.0%. On the private side, the decline of 10.6% muted the strong contributions of our public portfolio. The combination of the two asset classes led to a +7.4% growth of our NAV.”

“We are also pleased with the +23.5% gross performance during Q3 2020 of our separately managed account,” added Daniel B. Wolfe, President of 180. “If this period was as of the end of 2020, the return net of fees would be +16.9% and generate approximately $1.8 million in carried interest for 180. Thus far through Q4 2020, our public portfolio has given back some of our gains from the prior quarter. The gross total return of our public portfolio for Q4 2020 and for the year through November 17, 2020, was -2.7% and +4.6%, respectively.¹ We remind investors that it remains too early to know where 180’s NAV and the performance of our separately managed account will end up as of the end of the year.”

Review of Q3 2020

	Q3 2020
Stock Price	$1.74 -> $1.89 (+8.6%)
Net Asset Value per Share (“NAV”)	$2.70 -> $2.90 (+7.4%)
Stock Price / NAV	64% -> 65%
Cash + Securities of Public Companies*	$44.6 million -> $55.4 million (+24.2%)

*Net of unsettled trades as of the end of the period.

• Public portfolio gross total return was +25.4% versus the Russell Microcap Index of +3.7%. Public portfolio increased in value by approximately $11.3 million, or $0.36 per share.
• Private portfolio decreased in value by approximately $4.3 million, or $0.14 per share.

Q4 2020 Developments