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Mount Logan Capital Inc. Completes Previously Announced Acquisition of Ability Insurance Company and Transaction Related Issuance of Shares

Mount Logan Capital Inc. announces that it has completed its previously announced acquisition of 100% of the equity of Ability Insurance Company for a purchase price of $20 million comprised of the issuance of an unsecured promissory note in the amount of $15 million and $5 million of common shares of Mount Logan. The transaction has been approved by both the. ....

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Mount Logan Capital Inc. Announces Agreement to Acquire Ability Insurance Company


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TORONTO, May 19, 2021 (GLOBE NEWSWIRE) Mount Logan Capital Inc. (NEO: MLC) ( Mount Logan, our, we, or the Company ) announces that it has entered into a non-binding agreement (the Purchase Agreement ) for the acquisition of 100% of the equity of Ability Insurance Company ( Ability ) for a purchase price of $20 million (the Purchase Consideration ) to be satisfied through the issuance of an unsecured promissory note in the amount of $15 million and $5 million of common shares of Mount Logan (the Transaction ). Mount Logan s wholly-owned subsidiary, Mount Logan Management LLC ( ML Management ) is proposed to manage a meaningful portion of Ability s assets, significantly increasing ML Management s assets under management ( AUM ). ....

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