Mount Logan Capital Inc. Completes Strategic Minority Funding in Runway Development Capital LLC

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All quantities are acknowledged in United States {dollars}, until in any other case indicated

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TORONTO, Jan. 30, 2025 (GLOBE NEWSWIRE) — Mount Logan Capital Inc. (Cboe Canada: MLC) (“Mount Logan” or the “Firm”) immediately introduced it has efficiently accomplished its beforehand introduced minority funding in Runway Development Capital LLC (“Runway”), alongside BC Companions and its associates, that are buying the remaining excellent possession in Runway. On closing, Mount Logan issued to former Runway members an mixture of two,693,071 frequent shares of Mount Logan at a deemed value of C$2.67, which was decided primarily based on the 20-day volume-weighted common value previous to and together with January 27, 2025.

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With approval of a brand new funding advisory settlement, Runway will proceed to function funding adviser to its managed funds, together with Runway Development Finance Corp. (Nasdaq: RWAY) (“Runway Development Finance”), a enterprise growth firm, and to different non-public funds. Mount Logan seems to be ahead to working with BC Companions and Runway’s administration and funding groups to capitalize on the alternatives out there within the North American credit score markets.

Administration Commentary

Ted Goldthorpe, Chief Government Officer and Chairman of Mount Logan, acknowledged, “We’re thrilled to formally welcome David and the gifted crew at Runway to the Mount Logan household. We’re enthusiastic about partnering with the Runway crew to scale their specialised capabilities in offering financing options to late-stage progress platforms. Because the announcement, we’ve already seen vital advantages of our alignment with the Runway crew. Runway’s experience enhances our credit score capabilities, and we’re assured in our means to leverage their sturdy funding acumen to broaden our product suite and additional diversify our non-public credit score fund choices.”

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Advisors

Wildeboer Dellelce LLP acted as Canadian authorized counsel to Mount Logan. Simpson Thacher & Bartlett LLP acted as authorized counsel to BC Companions. Oppenheimer & Co. Inc. acted because the unique monetary advisor to Runway Development Capital LLC. Wachtell, Lipton, Rosen & Katz acted as authorized counsel to Runway Development Capital LLC and Eversheds Sutherland (US) LLP acted as authorized counsel to the unbiased administrators of Runway Development Finance.

About Mount Logan Capital Inc.

Mount Logan Capital Inc. is another asset administration and insurance coverage options firm that’s centered on private and non-private debt securities within the North American market and the reinsurance of annuity merchandise, primarily by way of its wholly owned subsidiaries Mount Logan Administration LLC (“ML Administration”) and Capability Insurance coverage Firm (“Capability”), respectively. Mount Logan additionally actively sources, evaluates, underwrites, manages, displays and primarily invests in loans, debt securities, and different credit-oriented devices that current enticing risk-adjusted returns and current low danger of principal impairment by way of the credit score cycle.

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ML Administration was organized in 2020 as a Delaware restricted legal responsibility firm and is registered with the SEC as an funding adviser underneath the Funding Advisers Act of 1940, as amended. The first enterprise of ML Administration is to offer funding administration companies to (i) privately supplied funding funds exempt from registration underneath the Funding Firm Act of 1940, as amended (the “1940 Act”) suggested by ML Administration, (ii) a non-diversified closed-end administration funding firm that has elected to be regulated as a enterprise growth firm, (iii) Capability, and (iv) non-diversified closed-end administration funding corporations registered underneath the 1940 Act that function as interval funds. ML Administration additionally acts because the collateral supervisor to collateralized mortgage obligations backed by debt obligations and related property.

Capability is a Nebraska domiciled insurer and reinsurer of long-term care insurance policies and annuity merchandise acquired by Mount Logan within the fourth quarter of fiscal 12 months 2021. Capability can be now not insuring or re-insuring new long-term care danger.

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About Runway Development Capital LLC

Runway Development Capital LLC is the funding adviser to funding funds, together with Runway Development Finance Corp. (Nasdaq: RWAY), a enterprise growth firm, and different non-public funds, that are lenders of progress capital to corporations in search of an alternative choice to elevating fairness. Led by trade veteran David Spreng, these funds present senior time period loans of a goal of $30 million to $150 million to fast-growing corporations primarily based in the USA and Canada. For extra info on Runway Development Capital LLC and its platform, please go to www.runwaygrowth.com.

About Runway Development Finance Corp.

Runway Development Finance is a rising specialty finance firm centered on offering versatile capital options to late- and growth-stage corporations in search of an alternative choice to elevating fairness. Runway Development Finance is a closed-end funding fund that has elected to be regulated as a enterprise growth firm underneath the Funding Firm Act of 1940. Runway Development Finance is externally managed by Runway Development Capital LLC, a longtime registered funding advisor that was fashioned in 2015 and led by trade veteran David Spreng. For extra info, please go to www.runwaygrowth.com.

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About BC Companions & BC Companions Credit score

BC Companions is a number one worldwide funding agency in non-public fairness, non-public debt, and actual property methods. BC Companions Credit score was launched in February 2017, with a concentrate on figuring out enticing credit score alternatives in any market setting, usually in advanced market segments. The platform leverages the broader agency’s deep trade and working sources to offer versatile financing options to middle-market corporations throughout Enterprise Providers, Industrials, Healthcare and different choose sectors. For additional info, go to www.bcpartners.com/credit-strategy.

Cautionary Assertion Relating to Ahead-Wanting Statements

This press launch accommodates forward-looking statements and knowledge inside the that means of relevant securities laws. Ahead-looking statements might be recognized by the expressions “seeks”, “expects”, “believes”, “estimates”, “will”, “goal” and related expressions. The forward-looking statements are usually not historic info however mirror the present expectations of the Firm relating to future outcomes or occasions and are primarily based on info at the moment out there to it. Sure materials components and assumptions have been utilized in offering these forward-looking statements. The forward-looking statements mentioned on this launch embody, however are usually not restricted to, statements regarding the Firm’s enterprise technique, mannequin, method and future actions; portfolio composition, dimension and efficiency, asset administration actions and associated revenue, capital elevating actions, future credit score alternatives of the Firm, portfolio realizations, the safety of stakeholder worth, the enlargement of the Firm’s mortgage portfolio, together with by way of its funding in Runway, synergies to be achieved by each the Firm and Runway by way of the Firm’s strategic minority funding, any future progress and enlargement of every of each the Firm and Runway, any change in earnings potential for the Firm on account of any progress of Runway, the enterprise and future actions and prospects of Runway and the Firm. All forward-looking statements on this press launch are certified by these cautionary statements. The Firm believes that the expectations mirrored in forward-looking statements are primarily based upon affordable assumptions; nevertheless, the Firm may give no assurance that the precise outcomes or developments might be realized by sure specified dates or in any respect. These forward-looking statements are topic to plenty of dangers and uncertainties that might trigger precise outcomes or occasions to vary materially from present expectations, together with that the anticipated synergies of the funding in Runway might not be realized as anticipated; the danger that every of the Firm and Runway could require a big funding of capital and different sources with the intention to broaden and develop their respective companies; the Firm has a restricted working historical past with respect to an asset administration oriented enterprise mannequin and the issues mentioned underneath “Threat Components” in probably the most not too long ago filed annual info type and administration dialogue and evaluation for the Firm. Readers, due to this fact, shouldn’t place undue reliance on any such forward-looking statements. Additional, a forward-looking assertion speaks solely as of the date on which such assertion is made. The Firm undertakes no obligation to publicly replace any such assertion or to mirror new info or the incidence of future occasions or circumstances besides as required by securities legal guidelines. These forward-looking statements are made as of the date of this press launch.

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This press launch isn’t, and not at all is it to be construed as, a prospectus or an commercial and the communication of this launch isn’t, and not at all is it to be construed as, a proposal to promote or a proposal to buy any securities within the Firm or in any fund or different funding car. This press launch isn’t meant for U.S. individuals. The Firm’s shares are usually not registered underneath the U.S. Securities Act of 1933, as amended, and the Firm isn’t registered underneath the U.S. Funding Firm Act of 1940 (the “1940 Act”). U.S. individuals are usually not permitted to buy the Firm’s shares absent an relevant exemption from registration underneath every of those Acts. As well as, the variety of buyers in the USA, or that are U.S. individuals or buying for the account or good thing about U.S. individuals, might be restricted to such quantity as is required to adjust to an out there exemption from the registration necessities of the 1940 Act.

Contacts
Mount Logan Capital Inc.
365 Bay Road, Suite 800
Toronto, ON M5H 2V1
information@mountlogancapital.ca

Nikita Klassen
Chief Monetary Officer
Nikita.Klassen@mountlogancapital.ca

Scott Chan
Investor Relations
Scott.Chan@mountlogan.com

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