Cartesian Growth in an 8-K filing today said it will issue additional shares to stockholders who do not redeem their shares in connection with the proposed merger of the SPAC with Tiedemann Group and Alvarium Investments. The size of the bonus pool is contingent on the number of redemptions.
The number of additional shares in this bonus pool will be based on total redemptions and the number of shares issuable in private placements. As a result, for each ordinary share, non-redeeming shareholders will receive an additional number of shares of Class A stock, unless redemptions are less than 61.59%, in which case no bonus shares will be issued.
The vote date on the proposed merger is Nov. 17.
As announced in September 2021, the deal would be funded through a combination of Cartesian’s $345 million cash in trust and approximately $165 million in a fully committed PIPE.
The goal of the transaction is to create a global investment firm with $54 billion AUM.
If approved, upon closing the combined company will operate as Alvarium Tiedemann Holdings and trade on the Nasdaq. Read more.
