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Altisource Shareholders Approve 1-For-8 Reverse Stock Split And Treatment Of Fractional Shares

Benzinga · 05/13 16:20

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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 Shareholders held on May 13, 2025.

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.

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