- Altisource (ASPS, Financial) announces a 1-for-8 reverse stock split effective May 28, 2025.
- The move aims to comply with Nasdaq's $1.00 minimum bid price requirement.
- ASPS's outstanding shares will decrease from approximately 88.9 million to 11.1 million.
Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) has confirmed a 1-for-8 reverse stock split set to take effect on May 28, 2025. This strategic decision is part of an effort to meet Nasdaq’s minimum bid price requirement of $1.00 per share, a necessary condition for maintaining the company's listing status on the exchange. As a result of the split, the number of outstanding shares will be significantly reduced from about 88.9 million to roughly 11.1 million.
Post-split, Altisource will continue trading under its current ticker, ASPS, but will adopt a new CUSIP number, L0175J 138. The company's board approved the consolidation on March 16, 2025, and shareholders gave their consent on May 13, 2025. Although no fractional shares will be issued, shareholders will receive cash payments equivalent to the closing price on May 27, 2025, for any fractional interests they might be entitled to.
This action will proportionally adjust the exercise prices of Altisource's outstanding warrants and stock options. The adjustment ensures compliance with current agreements while aiming to stabilize the company's stock performance. Altisource aims to assure investors of its continued commitment to operational excellence and regulatory compliance, despite the mechanical nature of this maneuver.
