secwatch.observer — SEC 8-K summary
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Issuer:     ALTISOURCE PORTFOLIO SOLUTIONS S.A. (ASPS)
CIK:        0001462418
Form:       8-K
Filed at:   2024-12-17T23:59:59+00:00
Accession:  0001462418-24-000052
Event type: debt
Sentiment:  negative
Materiality: 0.90
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Altisource enters debt restructuring: reduces debt $58M, extends maturity 5 years, grants 63.5% equity to lenders
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- Reduces debt by $58M (25%) to $172.5M: up to $110M term loan, $50M exit fee, $12.5M super senior facility.
- Annual cash and PIK interest cut by ~$18M; maturity extended to April 30, 2030 from April 30, 2025.
- Lenders get 57.9M shares (63.5% of pro forma equity); shareholders receive warrants for ~115M shares at $1.20.
- New debt rate SOFR+6.50% (current ~10.9%) vs existing SOFR+8.75%; super senior facility has 10% OID.
- Transactions require shareholder approval by March 31, 2025; preliminary proxy due by Dec 31, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1462418/000146241824000052/0001462418-24-000052-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1462418/000146241824000052/asps-20241216.htm
  HTML page:      https://secwatch.observer/filing/0001462418-24-000052

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