Altisource: Altisource Announces it (1) Anticipates the Record Date to Receive Stakeholder Warrants in Connection With the Previously Announced Debt Exchange Transaction to be February 14, 2025 (2) Entered Into Voting Support Agreements in Favor of Proposals Relating to the Debt Exchange Transaction With Shareholders Holding Approximately 53% of the Company's Common Stock

LUXEMBOURG, Jan. 16, 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 it anticipates holders of Altisource's common stock, restricted share units and existing penny warrants ("Existing Warrants"), in each case, of record as of February 14, 2025 will receive warrants to purchase approximately 3.25 shares of Altisource common stock at an exercise price of $1.20 per share (the "Warrants") for each share of common stock, restricted share unit and share of common stock issuable upon exercise of Existing Warrants. The Warrants are a component of the previously announced anticipated exchange, amendment and maturity extension transaction of the Company's term loans and certain other transactions (collectively, the "Transactions") contemplated by the Transaction Support Agreement the Company and its wholly owned subsidiary, Altisource S.À R.L., entered into on December 16, 2024 with holders of approximately 99% of the total outstanding principal amount of the Company's outstanding term loans. Issuance of the Warrants is subject to shareholder approval of each of the proposals (the "Proposals") set forth in the Company's definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on January 3, 2025 (the "Proxy Statement") and the closing of the Transactions.The Company has also entered into voting and support agreements with shareholders holding approximately 53% of the Company's outstanding common stock as of the record date for the Company's meetings of shareholders to approve the Proposals. Pursuant to these agreements, the shareholders have agreed to vote their shares in favor of each of the Proposals.The closing of the Transactions is subject to certain terms and conditions, negotiation of, agreement upon and execution of definitive agreements, approval of the Company's Board of Directors and shareholder approval of the Proposals, as necessary.Forward-Looking StatementsThis press release contains forward-looking statements that involve a number of risks and uncertainties. These forward-looking statements include all statements that are not historical fact, including statements that relate to, among other things, the expected record date for ...Full story available on Benzinga.com