IPO - ALTISOURCE PORTFOLIO SOLUTIONS S.A.

Form Type: S-1/A

Filing Date: 2025-04-10

Corporate Action: Ipo

Type: Update

Accession Number: 000110465925033787

Filing Summary: On April 10, 2025, Altisource Portfolio Solutions S.A. filed an amendment to its S-1 registration statement with the SEC, relating to the issuance of up to 114,499,134 shares of common stock following the declaration of a Warrant Distribution. This distribution involves two types of warrants: Cash Exercise Stakeholder Warrants and Net Settle Stakeholder Warrants, which allow holders to purchase shares of common stock at specified conditions. The warrants were issued to stakeholders as of the Distribution Record Date of February 14, 2025, with one warrant granted for each common share, RSU, and Penny Warrant held at that time. The initial exercise price of the warrants is set at $1.95, with conditions determining their exercise based on the trading volume weighted average price (VWAP). Considering the outstanding common shares and projected exercises of these warrants, the total number of shares could increase significantly upon full conversion. This filing is part of Altisource's efforts to attract equity capital through broader market offerings, addressing its financial arrangements made since 2023 involving significant debt reductions and restructuring efforts with lenders.

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Form Type: S-1

Filing Date: 2025-01-31

Corporate Action: Ipo

Type: New

Accession Number: 000110465925008188

Filing Summary: Altisource Portfolio Solutions S.A. filed a registration statement on Form S-1 with the SEC on January 31, 2025, in connection with the planned issuance and sale of up to 115,000,000 shares of common stock as part of a Warrant Distribution. This distribution is aimed at providing stakeholders an opportunity to offset potential dilution associated with the issuance of approximately 57.6 million shares under the Debt Exchange program, resulting from a recapitalization effort involving holders of significant term loans. The Warrants to be issued grant holders the right to purchase shares of common stock under specified conditions, including a VWAP condition prior to the expiration of the Warrants. The issuance intends to facilitate an increased common stock base and enhance liquidity in the market for Altisource’s offerings.

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