GAM is to offer a rights issue of up to CHF100m to its existing shareholders at its Annual General Meeting on 15 May.
In a statement on 13 May, GAM said the rights offering will be, "if necessary", fully underwritten by Rock Investment SAS (Rock), a group company of GAM's anchor shareholder NJJ Holding SAS.
The capital increase was intended to "support the implementation of its strategy", it said.
The statement further said: "In connection with Rock's underwriting of such rights offering, on May 10, 2024, Rock and GAM entered into a commitment letter.
"Subject to the terms and conditions of such commitment letter, Rock has agreed to subscribe and purchase all shares for which subscription rights have not been validly exercised for an aggregate amount of up to CHF 100 million.
"Accordingly, to the extent GAM's existing shareholders decide not to participate in the rights offering, GAM will allocate any remaining shares to Rock. Rock will purchase such remaining shares at the same price as the offer price in the rights offering."
