AlTi Tiedemann Global Closes Additional Investment by Constellation Wealth Capital
15 Mayo 2024 - 3:05PM
Business Wire
AlTi Global, Inc. (NASDAQ: ALTI) (“AlTi” or the “Company”), a
leading independent global wealth and alternatives manager with
over $70 billion in combined assets, today announced the closing of
the second investment from Constellation Wealth Capital (“CWC”).
CWC, an investment advisory firm specializing in making investments
in industry-leading wealth managers, has made an additional
investment of $35 million in AlTi. The investment by CWC, which,
together with CWC’s earlier investment totals $150 million, is part
of the previously announced strategic investment of up to $450
million from Allianz X and CWC.
Under the terms of the investment agreement, as previously
disclosed, AlTi sold to CWC 35,000 additional shares of newly
created Series C Convertible Preferred Stock for a purchase price
equal to $35 million and issued additional warrants to purchase
466,667 shares of AlTi’s Class A Common Stock.
Further details are included in the Company’s current report on
Form 8-K filed with the Securities and Exchange Commission.
About AlTi AlTi is a leading independent global wealth
and alternatives manager providing entrepreneurs,
multi-generational families, institutions, and emerging
next-generation leaders with fiduciary capabilities as well as
alternative investment strategies and advisory services. AlTi’s
comprehensive offering is underscored by a commitment to impact or
values-aligned investing and generating a net positive impact
through its business activities. The firm currently manages or
advises on over $71 billion in combined assets and has an expansive
network with approximately 400 professionals across three
continents. For more information, please visit us at
www.alti-global.com.
About Constellation Wealth Capital Constellation Wealth
Capital is an alternative asset management platform dedicated to
the wealth management sector. CWC provides flexible, long-term
capital solutions, and strategic advisory support to scaled wealth
management platforms.
CWC leverages its deep industry experience and relationships for
the benefit of its partner firms. Learn more at
www.constellationwealthcapital.com.
Forward-Looking Statements Some of the statements in this
press release may constitute “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933 (the
“Securities Act”), Section 21E of the Securities Exchange Act of
1934 and the Private Securities Litigation Reform Act of 1995. All
statements other than statements of historical fact are
forward-looking. Words such as “anticipate,” “believe,” “continue,”
“estimate,” “expect,” “future,” “intend,” “may,” “plan” and “will”
and similar expressions identify forward-looking statements.
Forward-looking statements reflect management’s current plans,
estimates and expectations and are inherently uncertain. The
inclusion of any forward-looking information in this press release
should not be regarded as a representation that the future plans,
estimates or expectations contemplated will be achieved.
Forward-looking statements are subject to various risks,
uncertainties and assumptions. Important factors that could cause
actual results to differ materially from those in forward-looking
statements include, but are not limited to, global and domestic
market and business conditions, successful execution of business
and growth strategies and regulatory factors relevant to our
business, as well as assumptions relating to our operations,
financial results, financial condition, business prospects, growth
strategy and liquidity and the risks and uncertainties described in
greater detail under “Risk Factors” included in AlTi’s registration
statement on Form 10-K filed March 22, 2024, as amended on April 5,
2024, and in the subsequent reports filed with the SEC, as such
factors may be updated from time to time. We undertake no
obligation to revise or update any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as may be required by law.
Additional Information and Where to Find It The Company
filed a definitive proxy statement on Schedule 14A with the SEC on
May 10, 2024 in connection with the investment transactions
described in this press release and the Company’s solicitation of
proxies for use at the 2024 annual meeting of stockholders of the
Company (“stockholders”), or at any adjournment or postponement
thereof, to vote in favor of approval of amendments to the
Company’s amended and restated certificate of incorporation and the
issuance of an amount of shares of Class A Common Stock to Allianz
equal to 20% or more of the pre-transactions issued and outstanding
shares of Class A Common Stock and Class B Common Stock, taken
together and to vote on any other matters that shall be voted upon
at the Company’s 2024 annual meeting of stockholders, such as the
election of directors. The definitive proxy statement for the 2024
annual meeting of stockholders (the “proxy statement”) was mailed
to the stockholders of record as of May 1, 2024. Before making any
voting or investment decision with respect to the transactions,
investors and stockholders are urged to read the proxy statement
and the other relevant materials when they become available because
they will contain important information about the transactions. The
proxy statement and other relevant materials, and any other
documents filed by the Company with the SEC, may be obtained free
of charge at the SEC’s website at www.sec.gov. In addition,
investors and stockholders of the Company may obtain free copies of
the documents filed with the SEC from
https://ir.alti-global.com/financial-information/sec-filings.
The Company and its executive officers and directors may be
deemed to be participants in the solicitation of proxies in
connection with the transactions. Information about those executive
officers and directors of the Company and their ownership of the
Company’s common stock and other equity securities is set forth in
the Company’s Annual Report on Form 10-K for the fiscal year ended
December 31, 2023, which was filed with the SEC on March 22, 2024,
and amended by the Form 10-K/A filed with the SEC on April 5, 2024.
Investors and security holders may obtain additional information
regarding direct and indirect interests of the Company and its
executive officers and directors in the transactions by reading the
proxy statement and prospectus when it becomes available.
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version on businesswire.com: https://www.businesswire.com/news/home/20240514321451/en/
AlTi Investor Relations: Lily Arteaga, Head of
Investor Relations, investor@alti-global.com
AlTi Media Relations: Alex Jorgensen,
pro-alti@prosek.com
Constellation Wealth Capital Media Relations: Mike
Geller, mgeller@prosek.com
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