secwatch.observer — SEC 8-K summary
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Issuer:     Altisource Asset Management Corp (—)
CIK:        0001555074
Form:       8-K
Filed at:   2024-01-16T23:59:59+00:00
Accession:  0001555074-24-000002
Event type: other_material
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 3.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Altisource settles Luxor litigation, repurchases 144K preferred shares, avoids NYSE delisting
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- Luxor surrenders all 144,212 Series A Preferred Shares; AAMC pays $1M cash plus $11M in notes due in 3/5/8 years.
- Notes bear 7.5% cash or 10% PIK interest; common stock repurchases and dividends prohibited if PIK elected.
- AAMC to pay Luxor 50% of proceeds from Erbey Holding Corp litigation, up to $50M cap.
- All related litigation dismissed with prejudice; mutual releases with no admission of liability.
- NYSE rescinds November 30 delisting notice after settlement boosts stockholders' equity above $6M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1555074/000155507424000002/0001555074-24-000002-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1555074/000155507424000002/aamc-20240116.htm
  HTML page:      https://secwatch.observer/filing/0001555074-24-000002

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