Cartesian Growth announced today that its shareholders voted to approve the business combination with Tiedemann Group and Alvarium Investments Limited.
Redemptions erased $346.4, according to an 8-K filing, essentially wiping out the cash in trust. Cartesian has a $165 million fully committed PIPE to support the deal. Cartesian last month said it would set aside a bonus pool of shares for stockholders who did not redeem. The amount of that bonus pool was to be contingent on the redemption volume, although the SPAC offered no further details.
Closing-related processes are underway, the SPAC said. The closing is expected by Jan. 3, 2023.
Upon closing, the combined company will operate as Alvarium Tiedemann Holdings, and common stock and warrants will list on the Nasdaq under the ticker symbols GLBL and GLBLW. Read more.
