Altisource prices $20M public stock offering at $5.00/share, net proceeds ~$18.2M

ALTISOURCE PORTFOLIO SOLUTIONS S.A.

4,000,000 shares at $5.00/share; gross proceeds $20M, net ~$18.2M after underwriting discounts and expenses.
Underwriters granted a 30-day option to purchase up to an additional 600,000 shares at the same price.
Net proceeds intended for repayment of certain indebtedness and working capital; potentially all for debt repayment.
Offering expected to close on or about February 14, 2023; lock-up agreements for directors and officers until May 11, 2023.
Guggenheim Securities, LLC acting as sole book-running manager for the offering.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ALTISOURCE PORTFOLIO SOLUTIONS S.A. entered into Underwriting Agreement with Guggenheim Securities, LLC (effective 2023-02-10).

Action: entry
Agreement: underwriting
Counterparty: Guggenheim Securities, LLC
Effective: 2023-02-10

Exact text from the filing

On February 10, 2023, Altisource Portfolio Solutions S.A. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Guggenheim Securities, LLC (the “Representative”), as sole book-running manager and representatives of the underwriters named therein (the “Underwriters”), relating to an underwritten public offering (the “Offering”) of 4,000,000 shares of the Company’s common stock (“Common Stock”).

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ALTISOURCE PORTFOLIO SOLUTIONS S.A. filing history →

Source: SEC EDGAR

accession 0001462418-23-000010

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