---
schema_version: "secwatch.filing_event.v1"
accession: "0001462418-23-000006"
form_type: "8-K"
ticker: "ASPS"
cik: "0001462418"
company_name: "ALTISOURCE PORTFOLIO SOLUTIONS S.A."
filed_at: "2023-02-03T23:59:59+00:00"
generated_at: "2026-06-20T00:57:41.558537+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Altisource enters debt restructuring with 98% of lenders; Q4 Adj EBITDA turns positive at $0.6M

## Summary
- Lenders holding ~98% of existing term loans agreed to exchange for new first-lien loans due April 2025 (option to extend to April 2026 with conditions).
- Interest rate SOFR+5% cash+5% PIK; PIK component can be reduced based on par paydown up to $70M+.
- Lenders receive warrants for up to 19.99% of common stock at $0.01/share, subject to reduction based on par paydown.
- Preliminary Q4 2022 Adjusted EBITDA of $0.6M, a $9.4M improvement vs Q4 2021; FY2022 gross margin improved to 15% (from 4% in 2021).
- Foreclosure initiations up 409% YoY and foreclosure sales up 39% YoY; company expects benefit from default market recovery.

## SEC filing metadata
- accession: 0001462418-23-000006
- form_type: 8-K
- ticker: ASPS
- cik: 0001462418
- company_name: ALTISOURCE PORTFOLIO SOLUTIONS S.A.
- filed_at: 2023-02-03T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1462418/000146241823000006/0001462418-23-000006-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1462418/000146241823000006/asps-20230203.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001462418-23-000006
- JSON: https://secwatch.observer/filing/0001462418-23-000006.json
- Plain text: https://secwatch.observer/filing/0001462418-23-000006.txt

## Key facts
- Earnings Releases
  ALTISOURCE PORTFOLIO SOLUTIONS S.A. reported preliminary financial results for the full year 2022.
  - Period: the full year 2022
  - Result: preliminary results
  source text: Luxembourg, February 3, 2023 - Altisource Portfolio Solutions S.A. ("Altisource" or the "Company") (NASDAQ: ASPS), a leading provider and marketplace for the real estate and mortgage industries, today reported preliminary financial results for the fourth quarter and full year 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1462418/000146241823000006/0001462418-23-000006-index.htm
- Earnings Releases
  ALTISOURCE PORTFOLIO SOLUTIONS S.A. reported preliminary financial results for the fourth quarter 2022.
  - Period: the fourth quarter 2022
  - Result: preliminary results
  source text: Luxembourg, February 3, 2023 - Altisource Portfolio Solutions S.A. ("Altisource" or the "Company") (NASDAQ: ASPS), a leading provider and marketplace for the real estate and mortgage industries, today reported preliminary financial results for the fourth quarter and full year 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1462418/000146241823000006/0001462418-23-000006-index.htm
- Material Agreements
  ALTISOURCE PORTFOLIO SOLUTIONS S.A. entered into Transaction Support Agreement with certain holders (the 'Applicable Term Loan Lenders') of term loans under its existing credit agreement.
  - Action: entry
  - Agreement: credit facility
  - Counterparty: certain holders (the 'Applicable Term Loan Lenders') of term loans under its existing credit agreement
  source text: Altisource and certain of its subsidiaries, the Applicable Term Loan Lenders and lenders holding approximately 98% of the aggregate principal amount of the Existing Term Loans have entered into a transaction support agreement (together with all exhibits, annexes and schedules thereto, the “Transaction Support Agreement”), including a term sheet (the “Term Sheet”) setting forth the principal terms of, among other things, a proposed refinancing of the Company’s Existing Credit Agreement, subject to execution of definitive agreements and approval of lenders holding 99% in aggregate principal amount of the Existing Term Loans.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1462418/000146241823000006/0001462418-23-000006-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.