Form 4: Allianz SE Reports Changes in Beneficial Ownership of AlTi Global, Inc.
SEC Form 4
Allianz SE, through its subsidiary Allianz Strategic Investments S.a.r.l., reports changes in its holdings of AlTi Global, Inc. securities, including Class A Common Stock, Series A Preferred Stock, and warrants.
Summary
- Allianz SE filed a Form 4 with the SEC on May 14, 2025, reporting changes in beneficial ownership of AlTi Global, Inc. (ALTI).
- The report details holdings of Class A Common Stock, Series A Preferred Stock, and warrants held by Allianz Strategic Investments S.a.r.l. (ASI), a wholly-owned subsidiary of Allianz SE.
- ASI directly holds 19,318,580.96 shares of Class A Common Stock.
- ASI also holds 18,471 shares of Series A Preferred Stock, convertible into Class A Common Stock at $8.70 per share, subject to an ownership cap.
- Additionally, ASI holds a warrant to purchase up to 5,000,000 shares of Class A Common Stock at $7.40 per share, also subject to the ownership cap.
- The Series A Preferred Stock was acquired in private placements on July 31, 2024, and May 13, 2024.
- The warrant was acquired in a private placement on July 31, 2024, and is exercisable until July 31, 2029.
Sentiment
Score: 6
Explanation: The document is a routine filing related to changes in beneficial ownership. It doesn't convey strong positive or negative sentiment, but rather provides factual information about Allianz SE's holdings in AlTi Global, Inc.
Risks
- The ownership cap on the conversion of Series A Preferred Stock and exercise of the warrant could limit Allianz SE's potential upside in AlTi Global, Inc.
Future Outlook
The document does not contain specific forward-looking statements beyond the terms of the securities held.
Industry Context
This filing reflects the ongoing investment activity of Allianz SE in AlTi Global, Inc., a player in the alternative investment space. Monitoring such filings provides insights into the confidence and strategic direction of major investors in the sector.
Comparison to Industry Standards
- It's common for large financial institutions like Allianz to hold significant stakes in investment management companies.
- Comparable holdings would be BlackRock's investments in various asset managers or State Street's ownership positions in financial services firms.
- The ownership cap of 24.9% is a common structure to avoid triggering certain regulatory thresholds or control requirements.
Stakeholder Impact
- The filing provides transparency to AlTi Global, Inc. shareholders regarding the ownership structure and potential influence of Allianz SE.
- The terms of the Series A Preferred Stock and warrant, including the ownership cap, could impact the potential dilution of existing shareholders.
Key Dates
| Date | Description |
|---|---|
| 07/31/2024 | Private placement acquisition of Class A Common Stock, Series A Preferred Stock, and warrant. |
| 05/13/2024 | Private placement acquisition of Series A Preferred Stock. |
| 07/31/2026 | Earliest date Allianz SE can convert Series A Preferred Stock into Class A Common Stock. |
| 07/31/2027 | Earliest date AlTi Global, Inc. can convert Series A Preferred Stock into Class A Common Stock. |
| 07/31/2029 | Expiration date of the warrant to purchase Class A Common Stock. |
| 05/13/2025 | Date of the earliest transaction reported in the Form 4. |
| 05/14/2025 | Date of Form 4 filing. |
Keywords
beneficial ownership, AlTi Global, Allianz SE, Form 4, securities, Class A Common Stock, Series A Preferred Stock, warrant, ASI
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