Altisource announces Form S-3 filing on shares previously issued to lenders

Altisource (ASPS) Portfolio Solutions filed a Form S-3 Registration Statement with the Securities and Exchange Commission on October 24 related to the registration of the resale of the shares previously issued to its lenders under the Securities Act of 1933, as amended. On February 19, Altisource entered into agreements with 100% of the lenders under its senior secured term loans. Under these agreements, the Lenders exchanged the senior secured term loans with an outstanding balance of $232.8M for a $160M new first lien loan facility and 7.3M shares of common stock. As required under the terms of agreements between Altisource and the Lenders, Altisource filed the Form S-3 to register the resale of the Debt Exchange Shares. The Form S-3 includes a preliminary prospectus, which is not complete and may be changed. The Form S-3 is not yet effective.