secwatch.observer — SEC 8-K summary
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Issuer:     Altisource Asset Management Corp (—)
CIK:        0001555074
Form:       8-K/A
Filed at:   2024-01-16T23:59:59+00:00
Accession:  0001555074-24-000007
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

AAMC settles with Luxor, repurchases 144,212 preferred shares; NYSE rescinds delisting notice
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- Luxor surrenders all 144,212 Series A Convertible Preferred Shares; related agreements declared void.
- AAMC pays $1M cash plus three promissory notes: $2M (3yr), $3M (5yr), $6M (8yr) at 7.5% cash or 10% PIK interest.
- AAMC to pay Luxor 50% of proceeds from Erbey Holding litigation, capped at $50M.
- All litigation with Luxor and former director Redleaf dismissed with prejudice; mutual releases exchanged.
- NYSE rescinds November 2023 delisting notice as stockholders' equity exceeds $6M from settlement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1555074/000155507424000007/0001555074-24-000007-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1555074/000155507424000007/aamc-20240116.htm
  HTML page:      https://secwatch.observer/filing/0001555074-24-000007

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