Capitalise first name in Formua field

I have a ‘Contact’ field with a value as follows

MICHAEL Ashworth

I have a formula field that I want to say the following:

Hi Michael,
Are you ready for something exciting… (etc.)

How can I get only the first name (remove everything after the space) - and then capitalise only the first letter.

Thank you!

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Try this for a {First Name} field. It’ll work regardless of how the first name was originally capitalized:

IF(Contact, UPPER(LEFT(Contact, 1)) & LOWER(REGEX_EXTRACT(Contact, "(?:.)([^ ]*)")))

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