180 Degree Capital Corp. (NASDAQ: TURN) confirmed that its legacy private portfolio holding, TARA Biosystems, Inc., has been bought by Valo Health, LLC. 180 Degree Capital Corp. earned recognition as a publicly-traded registered closed-end fund that invests in and provides value-added assistance to what it feels are considerably undervalued small publicly traded firms with considerable recovery potential through constructive activism.
The main goal is for its constructive activism to result in a 180-degree change in the direction of the share prices of these investee firms. 180 has congratulated the TARA Biosystems team on the sale of the firm to Valo Health and the resulting liquidity for the company’s owners, including 180.
Furthermore, 180 Degree believed that as it stated in its recent shareholder letter and shareholder update call, it is making great progress in its efforts to commercialize its private portfolio. Furthermore, the company also thinks that TARA will be the first of several monetization events in 2022. 180’s goal is to have all of its assets in cash and publicly traded firms. It has made a lot of work toward that goal, and there’s still more to come.
In addition, 180 Degree has confirmed that 180 will receive around $2.7 million in cash over the next 24 months as part of the deal, with the possibility of receiving an extra $3.3 million if certain objectives are met.