Business
Altisource Announces Pricing of $20 Million Public Offering of Common Stock
LUXEMBOURG, Feb. 10, 2023 (GLOBE NEWSWIRE) -- Altisource Portfolio Solutions S.A. (“Altisource” or the “Company”) (NASDAQ: ASPS), a leading provider and
About this update from Altisource Portfolio Solutions S.a.
[{"type":"text","content":"LUXEMBOURG, Feb. 10, 2023 (GLOBE NEWSWIRE) -- Altisource Portfolio Solutions S.A. (“Altisource” or the “Company”) (NASDAQ: ASPS), a leading provider and marketplace for the real estate and mortgage industries, today announced the pricing of an underwritten public offering of 4,000,000 shares of its common stock at a price to the public of $5.00 per share. The gross proceeds of the offering to Altisource are expected to be approximately $20 million, before deducting the underwriting discounts and commissions and other estimated offering expenses. In addition, the Company granted the underwriters a thirty-day option to purchase up to an additional 600,000 shares of common stock at the public offering price, less underwriting discounts and commissions. All of the shares of common stock in the offering are being sold by Altisource. Guggenheim Securities, LLC is acting as the sole book-running manager for the offering. Altisource intends to use the net proceeds of the offering for repayment of certain indebtedness and working capital, including potentially using the entirety of the net proceeds for repayment of indebtedness. The offering is expected to close on or about February 14, 2023, subject to the satisfaction of customary closing conditions. The securities described above are being offered by the Company pursuant to an effective shelf registration statement on Form S-3 (File No. 333-268761) initially filed with the Securities and Exchange Commission (“SEC”) on December 12, 2022 and declared effective by the SEC on January 4, 2023. The securities may be offered by means of a prospectus. A final prospectus supplement and the accompanying prospectus relating to and describing the offering will be filed with the SEC. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained by vising the SEC’s website at www.sec.gov or by contacting Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, New York 10017, or by telephone at (212) 518-9544, or by email at [email protected]. Disclaimer This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unl...