Business
Altisource Announces Shareholder Approval of Reverse Stock Split and Treatment of Fractional Shares
Shareholders Must Hold Shares in Multiples of Eight by Market Close on May 27, 2025 to Avoid Fractional Share Cash-Out LUXEMBOURG, May 13, 2025 (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 that its shareholders have overwhelmingly approved a reverse stock split (the “Share Consolidation”) at the Company’s Extraordinary General Meeting of Share
About this update from Altisource Portfolio Solutions S.a.
[{"type":"image","alt":"Altisource Portfolio Solutions S.A.","displaySize":"","headline":null,"caption":"Altisource Portfolio Solutions S.A.","className":"","disableSlideshowImg":false,"size":{"original":{"width":299,"height":300,"url":"https://media.zenfs.com/en/globenewswire.com/165f878757db17fcab46dee2e6041bec"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/KHtwbBsCrvkkkIqYSwT7FQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTQyMTtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/165f878757db17fcab46dee2e6041bec","width":299,"height":300}},"lazy":false},{"type":"text","content":"Shareholders Must Hold Shares in Multiples of Eight by Market Close on May 27, 2025 to Avoid Fractional Share Cash-Out","length":118,"tagName":"p"},{"type":"text","content":"LUXEMBOURG, May 13, 2025 (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 that its shareholders have overwhelmingly approved a reverse stock split (the “Share Consolidation”) at the Company’s Extraordinary General Meeting of Shareholders held on May 13, 2025.","length":410,"tagName":"p"},{"type":"text","content":"Pursuant to the Share Consolidation, every eight (8) shares of the Company’s common stock will be consolidated into one (1) share of common stock, reducing the total number of outstanding shares from 88,951,925 to approximately 11,118,990. The Share Consolidation is scheduled to become effective on May 28, 2025, subject to the completion of required administrative procedures.","length":378,"tagName":"p"},{"type":"text","content":"Fractional Share Treatment and Important Deadlines","length":50,"tagName":"p"},{"type":"text","content":"No fractional shares will be issued in connection with the Share Consolidation. Instead, any fractional shares resulting from the Share Consolidation will be redeemed by the Company for cash at the closing price of the Company’s common stock on May 27, 2025, the last trading day prior to the Share Consolidation effective date.","length":328,"tagName":"p"},{"type":"text","content":"Shareholders who wish to avoid receiving cash for fractional shares must ensure their holdings are in amounts divisible by eight (8) prior to market close on May 27, 2025. Shareholders holding shares through a bank, broker, or other nominee are ...