Altisource Portfolio Solutions (ASPS) said Tuesday that the warrants, which were issued to purchase its common shares, have been approved for listing on Nasdaq, with trading scheduled to begin Wednesday.
The company distributed these warrants on April 3 for the purchase of its common shares, requiring cash settlement through the cash payment of the exercise price, and to purchase common shares, requiring settlement through the forfeiture of common shares to the company equal to the exercise price of such warrants.
Each warrant entitles the holder to purchase 1.625 shares of common stock at a total exercise price of $1.95, or $1.20 per share, subject to adjustments. The warrants may be exercised starting on the later of July 2, 2025, or once the stock's volume-weighted average price meets or exceeds the $1.20 implied per-share exercise price for 15 consecutive trading days.
The cash-settled warrants will expire on April 2, 2029, while the net settle warrants will expire on April 30, 2032.
Shares of Altisource were down nearly 2% in recent trading.
Price: 0.92, Change: -0.02, Percent Change: -1.85
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