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Alvarium Tiedemann Holdings (ALTI) has issued an announcement.
On July 31, 2024, AlTi Global, Inc. finalized a significant transaction with Allianz Strategic Investments, selling a mix of preferred and common stock for $250 million, alongside the issuance of warrants for additional stock purchases. This deal aligns with the terms outlined in the Investment Agreement from February 2024 and includes the right for Allianz to nominate two directors to AlTi Global’s board. Furthermore, the company made amendments to its Certificate of Incorporation to introduce Non-Voting Class C Common Stock, enhancing its capital structure and providing Allianz with specific rights, such as conversion to Class A stock under certain conditions.
For detailed information about ALTI stock, go to TipRanks’ Stock Analysis page.
