Altisource prices $17.5M public offering of 4.86M shares at $3.60; net proceeds to repay $10M debt

ALTISOURCE PORTFOLIO SOLUTIONS S.A.

Gross proceeds of $17.5M from 4,861,111 common shares at $3.60/share; net proceeds ~$15.8M after expenses.
Proceeds to be used for general corporate purposes, including repayment of $10M of credit agreement debt.
Underwriters granted 30-day option to purchase up to 729,166 additional shares at the offering price.
Directors and executive officers entered lock-up agreements prohibiting share sales until December 7, 2023.
Offering expected to close on or about September 12, 2023, subject to customary closing conditions.

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 B. Riley Securities, Inc (effective 2023-09-07).

Action: entry
Agreement: underwriting
Counterparty: B. Riley Securities, Inc
Effective: 2023-09-07

Exact text from the filing

On September 7, 2023 , Altisource Portfolio Solutions S.A. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with B. Riley Securities, Inc (the “Representative”), as sole book-running manager and representative of the underwriters named therein (the “Underwriters”), relating to an underwritten public offering (the “Offering”) of 4,861,111 shares of the Company’s common stock (“Common Stock”).

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ALTISOURCE PORTFOLIO SOLUTIONS S.A. filing history →

Source: SEC EDGAR

accession 0001462418-23-000060

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