Alvarium Tiedemann Announces Issuance of Bonus Shares to Non-Redeeming Public Shareholders

NEW YORK--(BUSINESS WIRE)--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.

About Alvarium Tiedemann

AlTi is a leading independent global wealth and asset manager providing entrepreneurs, multi-generational families, institutions, and emerging next-generation leaders with fiduciary capabilities as well as alternative investment strategies and advisory services. AlTi’s comprehensive offering is underscored by a commitment to impact or values-aligned investing and generating a net positive impact through its business activities. The firm currently manages or advises on approximately $60 billion in combined assets and has an expansive network with over 400 professionals across four continents. For more information, please visit us at www.Alti-global.com.

Forward-Looking Statements

Certain statements made in this press release are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions, or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Tiedemann, Alvarium, or Cartesian’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include (i) the inability to recognize the anticipated benefits of the business combination; (ii) the inability to maintain the listing of AlTi’s shares on Nasdaq following the business combination; (iii) costs related to the business combination; (iv) the risk that the business combination disrupts current plans and operations as a result of the announcement and consummation of the business combination; (v) AlTi’s ability to manage growth and execute business plans and meet projections; (vi) potential litigation involving AlTi, Cartesian, Tiedemann, or Alvarium; (vii) changes in applicable laws or regulations, particularly with respect to wealth management and asset management; (viii) general economic and market conditions impacting demand for AlTi’s services, and in particular economic and market conditions in the financial services industry in the markets in which AlTi operates; and (ix) other risks and uncertainties indicated from time to time in the Registration Statement, including those under “Risk Factors” therein, and in Cartesian’s or AlTi’s other filings with the SEC. Forward-looking statements speak only as of the date they are made. None of AlTi, Cartesian, Tiedemann, and Alvarium undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. None of AlTi, Cartesian, Tiedemann, or Alvarium gives any assurance that any of AlTi, Cartesian, Tiedemann, or Alvarium, will achieve expectations.