180 Degree Capital Corp.’s CEO, Kevin M. Rendino, Appointed to the Board of Its Portfolio Company, Synacor, Inc.
MONTCLAIR, N.J., March 05, 2019 (GLOBE NEWSWIRE) -- 180 Degree Capital Corp. (NASDAQ:TURN) (“180” and the “Company”), today notes that its Chief Executive Officer, Kevin M. Rendino, was appointed to the Board of Directors of Synacor, Inc., a portfolio holding of 180.
“We are excited to expand our engagement with Synacor,” said Mr. Rendino. “We believe Synacor is undervalued and the market has overlooked its transformation to growing, recurring revenues. We appreciate the opportunity to join its distinguished Board, where I can work closely with Himesh, its board members, and its management team to accelerate and expand high-quality revenue and profitability. This appointment is emblematic of our approach to work constructively with portfolio companies to build shareholder value.”
“We’re delighted to have Kevin join the Synacor Board of Directors,” said Synacor’s CEO Himesh Bhise. “Kevin shares Synacor’s commitment to profitability and high-value, recurring revenue. His passion and perspectives will be important as we drive shareholder and customer value.”
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.
Daniel B. Wolfe
180 Degree Capital Corp.
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.
Released March 5, 2019