# EDGAR Filing Document

**Accession Number:** 0002051820
**File Stem:** 0000000000-25-006954
**Filing Date:** 2025-7
**Character Count:** 9172
**Document Hash:** c1b3f24ba48a0839eca14d36583f561b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000000000-25-006954.hdr.sgml**: 20250904

**ACCESSION NUMBER**: 0000000000-25-006954

**CONFORMED SUBMISSION TYPE**: UPLOAD

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250701

**FILED FOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Yukon New Parent, Inc.
- **CENTRAL INDEX KEY:** 0002051820
- **STANDARD INDUSTRIAL CLASSIFICATION:** INVESTMENT ADVICE [6282]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 332698952
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** UPLOAD
- **SEC FILE NUMBER:** 333-286043

**BUSINESS ADDRESS:**
- **STREET 1:** 7 N. WILLOW STREET
- **STREET 2:** SUITE 4B
- **CITY:** MONTCLAIR
- **STATE:** NJ
- **ZIP:** 07042
- **BUSINESS PHONE:** 9737464500

**MAIL ADDRESS:**
- **STREET 1:** 7 N. WILLOW STREET
- **STREET 2:** SUITE 4B
- **CITY:** MONTCLAIR
- **STATE:** NJ
- **ZIP:** 07042
**PUBLIC REFERENCE ACCESSION NUMBER**: 0002051820-25-000021

## Text-Extract

```

                                                            July 1, 2025

Daniel B. Wolfe
Chief Executive Officer
Yukon New Parent, Inc.
c/o 180 Degree Capital Corp.
7 N. Willow Street, Suite 4B
Montclair, NJ 07042

       Re: Yukon New Parent, Inc.
           Amendment No. 2 to the Registration Statement on Form S-4
           Filed June 12, 2025
           File No. 333-286043
Dear Daniel B. Wolfe:

     We have reviewed your amended registration statement and have the
following
comments.

        Please respond to this letter by amending your registration statement
and providing
the requested information. If you do not believe a comment applies to your
facts and
circumstances or do not believe an amendment is appropriate, please tell us why
in your
response.

       After reviewing any amendment to your registration statement and the
information
you provide in response to this letter, we may have additional comments. Unless
we note
otherwise, any references to prior comments are to comments in our June 3, 2025
letter.

Amendment No. 2 to the Registration Statement on Form S-4
General

1.     We note your response to prior comment 41 and your Rule 425 filing dated
January
       17, 2025, which includes statements suggesting the combination of asset
management
       and insurance businesses is expected to generate returns of "~26%." If
these
       statements continue to reflect your expectations, please revise
Background of the
       Mergers, MD&A, and/or where appropriate to address the underlying
assumptions. If
       this statement no longer reflects your current view, please clarify so
in the Form S-4
       and explain why.
 July 1, 2025
Page 2

About This Preliminary Joint Proxy Statement/Prospectus, page i

2.     We note your response to prior comment 40. We further note that on page
i you
       state "neither Mount Logan nor any of its directors or officers assumes
any
       responsibility for the accuracy or completeness of such information
including any of
       180 Degree Capital   s financial statements." You also make a similar
statement for 180
       Degree Capital. These statements appear to imply a disclaimer of
responsibility for
       this information in the registration statement by both Mount Logan and
180 Degree
       Capital. Please revise this section and others with similar statements
to remove such
       implication.
The Mergers
Mount Logan's Reasons for the Mergers, page 120

3.     We note that, in your response to prior comment 9, you state in the
registration
       statement that the other proposals you considered "never progressed
beyond early
       stages"; however, in your response letter you stated that a proposed
business
       combination with Canaccord Genuity G Ventures Corp. was announced in
August
       2023. Please revise to clarify or advise us why the announced
transaction is not
       deemed progressed beyond early stages.
Opinion of 180 Degree Capital's Financial Advisor
MLC Projections, page 134

4.     We note that the financial projections provided to Fenchurch for 2024
includes $21.9
       million in asset management revenue for Mount Logan, whereas the audited
       consolidated Statement of Operations for the year ended December 31,
2024, reflects
       only $15.0 million in actual asset management revenue. Please revise to
further clarify
       the basis for the 2024 projection and why it materially exceeds the
actual audited
       results for the same year.
5.     We note your statement that neither "Mount Logan or its management
considers the
       MLC Projections to be predictive of actual future performance or that
the MLC
       Projections should be relied upon in any way in making a decision
regarding the
       proposed Business Combination, any investment in Mount Logan, or any
other
       matter." We further note your statement that "[n]either Mount Logan nor
any other
       person makes any representation regarding the MLC Projections or the
ultimate
       performance of Mount Logan compared to the MLC Projections or any other
       prospective financial information." While you may include qualifying
language with
       respect to such projections, it is inappropriate to disclaim
responsibility for this
       information. Please revise to eliminate these disclaimers.
Regulatory Approvals and Related Matters, page 135

6.     We note your response to prior comment 16. Please revise your disclosure
in the
       registration statement to clarify the status of required filings or
notices and the
       expected timing of remaining approvals.
 July 1, 2025
Page 3
Critical Accounting Estimates - Insurance Solutions Segment
Goodwill, page 295

7.     We note your response to prior comment 33 and revised critical
accounting estimates
       disclosures regarding goodwill impairment testing. Please further revise
and expand
       your disclosure for the following:
           the percentage by which fair value exceeded carrying value as of the
date of the
           most recent test;
           a description of the key assumptions used and how the key
assumptions were
           determined as described in your response; and
           how much each estimate and/or assumption has changed over a relevant
period,
           and the sensitivity of the reported amount to the methods,
assumptions and
           estimates underlying its calculation.
Management's Discussion and Analysis, page 340

8.     We note that you have included interest rate sensitivity disclosure for
Mount Logan
       on pages 270 and 302. However, similar interest rate sensitivity
disclosure does not
       appear to be provided for 180 Degree Capital Corp. In this regard, we
also note your
       disclosure discussing interest rate risk and interest rate sensitivity
as a potential impact
       to earnings for 180 Degree Capital Corp. Please revise to provide
interest rate risk and
       sensitivity information for 180 Degree Capital or tell us why you
believe it is not
       required. Refer to Item 305 of Regulation S-K.
Index to Financial Statements
180 Degree Capital Corp., page F-1

9.     In regards to the unaudited interim financial statements for 180 Degree
Capital Corp.,
       we note that reference on page F-2 to the three month periods ended
March 31, 2025
       and 2024 included on page F-183. Please address the following.
           It appears that the page number references for the interim financial
statements
           refer to your annual financial statements. Revise to ensure the
appropriate page
           number references are included.
           It appears that you have only included unaudited interim financial
statements for
           the three months ended March 31, 2025, but not for the three months
ended
           March 31, 2024 as stated on the index. We also note your results of
operations
           discussion on pages 344 through 348 within the MD&A includes a
comparison
           between the three months ended March 31, 2025 and 2024. For the
unaudited
           interim financial statements, revise to provide the corresponding
interim period of
           the preceding year or if you believe it is not applicable or
required, tell us why
           and revise the index to the financial statements to clarify
accordingly.
           Tell us your consideration to disclose a statement in the interim
financial
           statements consistent with the requirements of Rule 3-03(d) of
Regulation S-X.
 July 1, 2025
Page 4

       Please contact Lory Empie at 202-551-3714 or Robert Klein at
202-551-3847 if you
have questions regarding comments on the financial statements and related
matters. Please
contact Robert Arzonetti at 202-551-8819 or James Lopez at 202-551-3536 with
any other
questions.

                                                          Sincerely,

                                                          Division of
Corporation Finance
                                                          Office of Finance
cc:   John Mahon, Esq.

```

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