AlTi Global (ALTI) Calls All Outstanding Warrants
by Nicholas Alan Clayton on 2023-05-05 at 10:27am

AlTi Global (NASDAQ:ALTI), the wealth and asset manager that combined with Cartesian Growth in January, announced this morning that it has launched an offer to exchange all outstanding warrants for 0.25 Class A shares each.

Holders have until midnight ET June 2 to accept the offer, but this deadline may be extended. AlTi stock is down about -31% since the opening bell, but this offer would have represented value of about $1.58 per warrant as of its last closing price and about $1.08 now.

AlTi warrants (NASDAQ:ALTIW) have already zoomed up +108% to match this, but are still trading at a slight discount around $1.02.

As has become standard practice, the company is also soliciting the consent of warrant holders to automatically exchange any warrants left outstanding at the end of the offer period for 0.225 shares, providing 10% less value.

Representatives of at least 65% of warrants must approve this change and the company has already received consents representing 36.7% of public warrants and 66.3% of private warrants approving the move.

The offer would eliminate a warrant overhang of 19,892,387 outstanding warrants, 10,992,453 of which are public and 8,899,934 private warrants. It is expected to generate an aggregate of up to 4,973,096 new common shares in the company.

AlTi Global recently changed its name from Alvarium Tiedemann following the closing of its $1 billion combination Cartesian Growth, which was initially announced in September 2021. The firm serves as an alternative asset manager to clients on four continents and has about $60 billion in assets under management.


  • Oppenheimer & Co. Inc is serving as the dealer manager and solicitation agent for the offer.
  • Innisfree M&A Incorporated has been appointed as the information agent for the offer and consent solicitation.
  • Continental Stock Transfer & Trust Company has been appointed as the exchange agent.
Recent Posts
by Nicholas Alan Clayton on 2023-09-25 at 5:37pm

Welsbach Technology Metals Acquisition Corp. (WTMA) to Discuss Non-Redemption Agreements Welsbach Technology Metals Acquisition Corp. (NASDAQ:WTMA) announced in an 8-K today that it intends to discuss signing non-redemption agreements of unspecified size with investors ahead of its September 28 extension vote. Any takers on the offer would receive additional shares in the company’s combination target...

by Kristi Marvin on 2023-09-25 at 5:35pm

Latest SPAC Liquidations: Iconic Sports Acquisition Corp. Iconic Sports Acquisition Corp. (ICNC) to Liquidate on October 11, 2023 Iconic Sports Acquisition Corp. (NYSE: ICNC), today announced that its board of directors has determined to redeem all of its issued and outstanding Class A ordinary shares, effective as of October 11, 2023. The Company anticipates that...

by Nicholas Alan Clayton on 2023-09-25 at 11:33am

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Conduit’s $1.2bn Nasdaq listing deals another blow to London A British biopharmaceuticals business has completed a deal to list on Nasdaq, delivering a further blow to the London Stock Exchange which has struggled to persuade fast-growing companies...

by Nicholas Alan Clayton on 2023-09-25 at 7:07am

Mercato Partners (NASDAQ:MPRA) announced in an 8-K this morning that it has added an $11.1 million PIPE at $10 per share to its combination with Brazilian software firm Nuvini. The PIPE investors remain unnamed for now, but this move would cover the combination’s $10 million minimum cash condition. That eliminates some uncertainty as Mercato approaches...

by Kristi Marvin on 2023-09-23 at 11:45am

Terms Tracker for the Week Ending September 22, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. SPACs finally saw two new S-1 filings this week, the first to file since August 24th.  Hainan Sirius Acquisition Corp. filed first on Thursday and...


Copyright © 2023 SPACInsider, Inc. All Rights Reserved