SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 4, 2023
ALTISOURCE ASSET MANAGEMENT CORPORATION
(Exact name of Registrant as specified in its charter)
|U.S. Virgin Islands|
|(State or other jurisdiction of incorporation or organization)||(Commission File Number)||(I.R.S. Employer Identification No.)|
5100 Tamarind Reef
Christiansted, U.S. Virgin Islands 00820
(Address of principal executive offices including zip code)
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered or to be registered pursuant to Section 12(b) of the Act:
Title of each class
Name of each exchange on which registered
|Common stock, par value $0.01 per share||AAMC||NYSE American|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter):
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 8.01. Other Events.
On August 4, 2023, Altisource Asset Management Corporation announced a two-for-one stock split in the form of a stock dividend payable on September 13, 2023 to shareholders of record as of August 14, 2023. Trading will begin on a stock split-adjusted basis on September 14, 2023. See Exhibit 99.1 for additional information.
Item 9.01 Financial Statements and Exhibits
Press Release dated August 4, 2023 announcing the stock split.*
|104||Cover Page Interactive Data File (embedded within the Inline XBRL document).|
* Furnished but not “filed” for the purposes of determining liability under Section 18 of the Securities Exchange Act of 1934, as amended.
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Altisource Asset Management Corporation
|August 4, 2023|
|/s/ Stephen R. Krallman|
Stephen R. Krallman
Chief Financial Officer
Altisource Asset Management Corporation Announces a Two-for-One Stock Split
CHRISTIANSTED, U.S. Virgin Islands – (BUSINESS WIRE) – August 4, 2023 --Altisource Asset Management Corporation (“AAMC” or the “Company”) (NYSE American: AAMC) announced today that the Board of Directors has approved and declared a two-for-one split of AAMC’s common stock in the form of a stock dividend.
“The stock dividend is required to allow for AAMC to reach the minimum level of 1,100,000 publicly held shares which is consistent with the remediation plan submitted to the NYSE on June 30, 2022”, stated Jason Kopcak, Chief Executive Officer and Director. “Upon the shares being distributed the Company will be compliant with the publicly held share requirement under Section 1003(a)(iii).”
Each stockholder of record on August 14, 2023 will receive a dividend of one additional share of common stock for each then-held share, to be distributed after close of trading on September 13, 2023. Trading will begin on a stock split-adjusted basis on September 14, 2023.
AAMC is a private credit provider that originates alternative assets to supply liquidity and capital to under-served markets. Additional information is available at www.altisourceamc.com .
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding management’s beliefs, estimates, projections, anticipations, and assumptions. These statements may be identified by words such as “anticipate”, “intend”, “expect”, “may”, “could”, “should”, “would”, “plan”, “estimate”, “target”, “seek”, “believe”, and other expressions or words of similar meaning. We caution that forward-looking statements are qualified by the existence of certain risks and uncertainties that may cause actual results and events to differ materially from what is contemplated by the forward-looking statements.
The statements made in this press release are current as of the date of this press release only. The Company undertakes no obligation to publicly update or revise any forward-looking statements or any other information contained herein, whether as a result of new information, future events, or otherwise.