Reported Late Tuesday, Alvarium Tiedemann Announces Issuance Of Bonus Shares To Non-Redeeming Public Shareholders Of Cartesian Who Did Not Elect To Redeem Their Shares Will Receive ~1.121617 Shares Of Class A Common Stock Of ALTI For Each Share Held Prior

Author: Benzinga Newsdesk | January 04, 2023 01:46am

Alvarium Tiedemann Holdings, Inc. (NASDAQ:ALTI) ("Alvarium Tiedemann" or "AlTi" or the "Company") announced that in accordance with the Sponsor Support Agreement, dated as of September 19, 2021 (as amended, the "Sponsor Support Agreement"), at the closing of the Business Combination, Cartesian's sponsor, CGC Sponsor LLC, forfeited a total of 2,118,569 shares of Class A common stock, which shares were issued to public shareholders of Cartesian who did not elect to redeem their shares and investors in the private placement consummated concurrently with the closing of the Business Combination (collectively, the "Bonus Shares").

The Bonus Shares were issued pro rata based on the number of shares of Class A common stock held by such holders immediately prior to the closing of the Business Combination or subscribed for in the private placement. As a result of the issuance of the Bonus Shares, public shareholders of Cartesian who did not elect to redeem their shares will receive approximately 1.121617 shares of Class A common stock of AlTi for each share held immediately prior to the closing of the Business Combination.

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