AlTi will use the capital principally to fund its mergers and acquisitions pipeline and organic growth activities.
AlTi Global, Inc, a leading independent global wealth and alternatives manager with over $70 billion in combined assets, today announced the closing of the initial investment from Constellation Wealth Capital (“CWC”). CWC, an investment advisory firm specializing in making investments in industry-leading wealth managers, has made an initial investment of $115 million in AlTi, as part of the previously announced strategic investment of up to $450 million from Allianz X and CWC.
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AlTi will use the capital principally to fund its mergers and acquisitions pipeline and organic growth activities.
Under the terms of the agreement, AlTi sold 115,000 shares in newly created Series C Convertible Preferred Stock for a purchase price equal to $115 million, and issued warrants for 1,533,333 shares of AlTi’s Class A common stock.
As previously reported, during the period commencing May 1, 2024 until September 30, 2024, AlTi is permitted to deliver a capital demand notice requiring CWC to purchase an additional 35,000 shares of Series C Convertible Preferred Stock, representing an additional investment equal to $35 million, subject to applicable regulatory approvals and other customary closing conditions. In the event AlTi delivers such notice, CWC will also receive warrants to purchase 466,667 shares of 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
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