Wealth and asset management firm 360 ONE WAM has allotted 20.5 million equity shares to Swiss financial services major UBS AG. The allotment represents approximately 4.8 per cent of the firm's equity after UBS exercised all of its warrants.
Wealth and asset management firm 360 ONE WAM has allotted 20.5 million equity shares, representing approximately 4.8 per cent of its equity, to UBS AG. The share allotment follows the exercise of all warrants previously allotted to the Swiss financial services major.
According to the details of the transaction, UBS AG has exercised all the warrants and paid the remaining 75 per cent of the exercise price, thereby completing the conversion of warrants into equity shares.
This transaction was executed as part of the ongoing strategic collaboration between the two financial institutions.
"The complete conversion of warrants into equity shares by UBS AG marks a key development in the strategic collaboration between the two institutions. Transactions of this scale highlight how global financial majors are deepening their engagement with established wealth and asset management platforms in the market. As UBS fulfills the remaining 75 per cent of the exercise price, it reflects continued institutional commitment and alignment with the long-term growth objectives of 360 ONE WAM." — Dr. Shishir Gupta, Founder & CEO, StartupLanes
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