AlTi Global amends proxy statement for annual meeting

Published 28/05/2025, 00:16
AlTi Global amends proxy statement for annual meeting

AlTi Global, Inc. (NASDAQ:ALTI), a $485 million investment advisory firm whose shares have declined over 26% in the past six months according to InvestingPro data, has filed an amended proxy statement with the Securities and Exchange Commission (SEC) on Tuesday, May 27, 2025, providing additional details regarding its upcoming annual meeting of stockholders.

The company clarified that the annual meeting’s date, location, and agenda items remain unchanged. Shareholders who have already voted do not need to take any further action unless they wish to change their vote.

The proxy statement amendment includes revised information about attendee eligibility, voting rights, and the quorum requirement for the meeting. It specifies that holders of record of Class A and Class B common stock, as well as Series C Cumulative Convertible Preferred Stock as of April 21, 2025, along with their appointed proxies and invited guests, are allowed to attend the meeting. InvestingPro analysis shows the company maintains healthy liquidity with a current ratio of 1.56, indicating sufficient assets to meet short-term obligations.

Voting rights have been detailed for both common and preferred stockholders, with the latter having the right to vote on an as-converted basis, subject to a 7.5% cap as outlined in the Series C Certificate of Designations. The quorum for the meeting will be a majority of the outstanding shares entitled to vote, with abstentions, withheld votes, and broker non-votes counted towards quorum presence.

The required votes for the proposals have also been clarified. The election of directors will be decided by a plurality of the votes cast, while the ratification of KPMG LLP as the independent registered public accounting firm and the approval of an amendment to the company’s 2023 Stock Incentive Plan will each require a majority of votes cast.

The annual meeting will address standard corporate governance matters, including the election of directors and the ratification of the company’s independent auditor. Additionally, a proposal to amend the 2023 Stock Incentive Plan to increase the number of shares available for issuance is on the agenda.

This SEC filing serves as an official notice to AlTi Global’s shareholders and replaces any conflicting information in the previous proxy statement dated April 29, 2025. The company’s CEO, Michael Tiedemann, has signed off on the amended filing, ensuring compliance with SEC regulations.

In other recent news, Alti Global Inc. reported a 14% year-over-year increase in consolidated revenue, reaching $58 million in the first quarter of 2025. Despite this growth, the company posted a net loss of $3 million. Alti Global emphasized its strategic focus on recurring revenue, which constituted 83% of the total revenue, and highlighted a 23% increase in its core Wealth and Capital Solutions segment. The company also completed the acquisition of Kontoora, marking its entry into Germany, which is expected to be EBITDA accretive. The acquisition is part of Alti Global’s broader strategy to expand globally and enhance its service offerings.

Furthermore, Alti Global is actively working on cost optimization through a zero-based budgeting process, aiming to reduce its recurring cost base. The company plans to exit its international real estate segment, which is considered non-core to its strategy. Analysts from Raymond (NSE:RYMD) James were interested in the company’s cost reduction efforts and its growth expectations in Germany. Alti Global’s ongoing initiatives and strategic partnerships are geared towards long-term growth and operational efficiency, with more detailed financial guidance expected later in the year.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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