Canopy Growth stock tumbles after announcing $200 million share sale plan
AlTi Global, Inc. (NASDAQ:ALTI) announced Friday that its board of directors has approved a plan to conduct an orderly wind-down of the company’s non-core International Real Estate (IRE) business. The decision follows a comprehensive strategic review to evaluate alternatives for the IRE business, according to a statement released through a Securities and Exchange Commission filing.
The company stated that the wind-down process is expected to begin on or about Friday and is anticipated to be substantially completed by December 2027. While AlTi Global said it is unable at this time to determine an estimate or range of estimates for the major costs and impairment charges associated with the wind-down, InvestingPro data shows the company maintains strong liquidity with a current ratio of 1.56. Despite current unprofitability, analysts expect the company to return to profitability this year. Get deeper insights with InvestingPro’s comprehensive research report, available along with 7 additional ProTips for ALTI. The company plans to file an amendment to its current report within four business days after determining such estimates.
The information is based on a press release statement contained in the company’s Form 8-K filing with the SEC.
In other recent news, AlTi Global Inc. reported a 14% year-over-year increase in consolidated revenue for the first quarter of 2025, reaching $58 million. Despite this growth, the company posted a net loss of $3 million. AlTi Global’s adjusted EBITDA rose by 38%, indicating improved operational efficiency. The firm highlighted that 83% of its revenue came from recurring sources, underscoring the stability of its business model. Additionally, AlTi Global announced its acquisition of Kontoora, marking its entry into the German market, which is expected to be EBITDA accretive. The company also renewed the executive employment contract with Colleen Graham, its Chief Legal, Compliance, and Risk Officer, effective May 29, 2025. In another development, AlTi Global amended its proxy statement for its upcoming annual meeting, detailing voting rights and quorum requirements. The amendment also addresses the election of directors and the ratification of KPMG LLP as the independent auditor.
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