Nanotechnology Now

Our NanoNews Digest Sponsors
Heifer International

Wikipedia Affiliate Button

Home > Press > 180 Degree Capital Corp.’s Portfolio Company, TheStreet, Inc., Enters into Agreement to be Acquired by TheMaven, Inc. for $16.5 Million

Abstract:
180 Degree Capital Corp. (“180”) (NASDAQ:TURN), notes that its portfolio company, TheStreet, Inc. (“TST”), announced today that it has entered into a definitive merger agreement with TheMaven Inc., a coalition of content producers operating on a shared digital publishing, advertising and distribution platform (“TheMaven”), by which a subsidiary of TheMaven will acquire all of the outstanding common shares of TST for $16.5 million in cash (the “Purchase Price”).

180 Degree Capital Corp.’s Portfolio Company, TheStreet, Inc., Enters into Agreement to be Acquired by TheMaven, Inc. for $16.5 Million

Montclair, NJ | Posted on June 13th, 2019

According to TST, in addition to a pro-rata portion of the Purchase Price, stockholders of TST will receive additional consideration in connection with the closing of the merger transaction consisting of, (1) a special cash distribution equal to the cash held by TST immediately prior to the closing less any excluded liabilities as agreed to between the parties; and (2) a contingent value right, or CVR, which will entitle each holder to receive a pro-rata portion of the expected release of funds from the outstanding escrow agreements entered into by TST in connection with the sale of each its RateWatch and BoardEx/TheDeal businesses.

TST noted that its stockholders are expected to receive total cash consideration, including payments under the CVR, of $33.0 - $34.5 million, or $6.19 - $6.47 per share. 180 directly owns 471,521 shares of TST. 180 is the investment manager of TheStreet SPV Series – a Series of 180 Degree Capital Management, LLC (“TST SPV”), that owns 350,000 shares of TST. 180 receives carried interest on profits generated on capital managed in TST SPV.

TST further noted that the transaction is subject to the approval of a majority of the outstanding shares of common stock in TST under Delaware law and is expected to be submitted for stockholder approval and close in the third quarter of 2019.

####

About 180 Degree Capital Corp.
180 Degree Capital Corp. is a publicly traded registered closed-end fund focused on investing in and providing value-added assistance through constructive activism to what we believe are substantially undervalued small, publicly traded companies that have potential for significant turnarounds. Our goal is that the result of our constructive activism leads to a reversal in direction for the share price of these investee companies, i.e., a 180-degree turn. Detailed information about 180 and its holdings can be found on its website at www.180degreecapital.com.

Forward-Looking Statements

This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see the Company's securities filings filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company's business and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The reference and link to the website www.180degreecapital.com has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release. 180 is not responsible for the contents of third-party websites.

For more information, please click here

Contacts:
Daniel B. Wolfe
180 Degree Capital Corp.
973-746-4500

Copyright © 180 Degree Capital Corp.

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Nanometrics to Announce Second Quarter Financial Results on July 30, 2019 July 17th, 2019

Breakthrough material could lead to cheaper, more widespread solar panels and electronics July 16th, 2019

Caught in the act: Images capture molecular motions in real time July 15th, 2019

NUS ‘smart’ textiles boost connectivity between wearable sensors by 1,000 times: Metamaterials are incorporated into conventional clothing to dramatically improve signal strength between electronic devices, allowing for new applications July 15th, 2019

VC/Funding/Angel financing/Loans/Leases/Crowdfunding

180 Degree Capital Corp. Reports Net Asset Value per Share of $2.76 as of March 31, 2019; an Increase of 4.5% From December 31, 2018 May 1st, 2019

180 Degree Capital Corp. to Report First Quarter 2019 Financial Results on Wednesday, May 1, 2019 and to Host a Conference Call on Thursday, May 2, 2019 April 26th, 2019

A Nanobiotechnology Startup from a small town in India attracts the Global Investors January 27th, 2019

180 Degree Capital Corp.’s Portfolio Company, TheStreet, Inc., Agrees to Sell Its Institutional Business Units to Euromoney Institutional Investor PLC for $87.3 Million December 6th, 2018

Investments/IPO's/Splits

Picosun accelerates growth with a notable Finnish investment June 28th, 2019

Nanometrics and Rudolph Technologies to Jointly Participate in the 11th Annual CEO Investor Summit 2019 June 27th, 2019

Nanometrics and Rudolph Announce Merger Agreement to Create a Premier Semiconductor Process Control Company June 24th, 2019

Arrowhead Pharmaceuticals Reports Inducement Grants under NASDAQ Marketplace Rule 5635(c)(4) June 22nd, 2019

Announcements

Nanometrics to Announce Second Quarter Financial Results on July 30, 2019 July 17th, 2019

Breakthrough material could lead to cheaper, more widespread solar panels and electronics July 16th, 2019

Caught in the act: Images capture molecular motions in real time July 15th, 2019

NUS ‘smart’ textiles boost connectivity between wearable sensors by 1,000 times: Metamaterials are incorporated into conventional clothing to dramatically improve signal strength between electronic devices, allowing for new applications July 15th, 2019

New-Contracts/Sales/Customers

Analog Bits and GLOBALFOUNDRIES Deliver Differentiated Analog and Mixed Signal IP for High-Performance Mobile and Compute Applications: Analog Bits’ Analog and Mixed Signal IPs Including Various PLLs, PCIe Reference Clock, Sensors and Power Circuits with GLOBALFOUNDRIES 12nm Fin June 5th, 2019

Successful installation of the first Photonic Professional GT2 at KEIO University in Japan May 16th, 2019

Now made in Japan – Asian battery manufacturers welcome highly conductive nanotube additive March 7th, 2019

Oxford Instruments Supplies ITRI with Plasma Etch Solutions for MicroLED Development January 22nd, 2019

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project