secwatch.observer — SEC 8-K summary
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Issuer:     ALTISOURCE PORTFOLIO SOLUTIONS S.A. (ASPS)
CIK:        0001462418
Form:       8-K
Filed at:   2023-02-10T23:59:59+00:00
Accession:  0001462418-23-000008
Event type: debt
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Altisource amends credit facility, extends maturity to 2025, issues warrants, and launches public stock offering
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- Entered into Second Amendment to term loan, extending maturity to April 30, 2025, with possible extension to April 2026 if $30M+ par paydown.
- Lenders receive warrants for up to 19.99% of common stock at $0.01 per share, subject to reduction based on par paydown.
- Revolver amended: $15M facility with 10% cash + 3% PIK interest, maturity aligned with term loans.
- Preliminary Q4 2022: service revenue $32.8M, net loss $11.3M, Adjusted EBITDA $0.6M; full year net loss $53.4M.
- Company commenced underwritten public offering of common stock; no terms disclosed in filing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1462418/000146241823000008/0001462418-23-000008-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1462418/000146241823000008/asps-20230209.htm
  HTML page:      https://secwatch.observer/filing/0001462418-23-000008

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