Altisource Asset Management Corporation, an asset management company, provides portfolio management and corporate governance services to institutional investors in the United States. The company offers its services under an asset management agreement to Altisource Residential Corporation, which acquires and manages single-family rental properties for working class families. It also provides management services to NewSource Reinsurance Company Ltd. The company was founded in 2012 and is headquartered in Christiansted, Virgin Islands.
IPO Year:
Exchange: AMEX
Website: altisourceamc.com
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Altisource Asset Management Corporation (NYSE:AAMC) (the "Company" or "AAMC") today announced its intention to voluntarily delist from the NYSE American LLC ("NYSE American") and to deregister its common stock, $0.01 par value per share (the "Common Stock") under Section 12(b) and Section 12(g) of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and suspend its reporting obligations under Section 15(d) of the Exchange Act. As previously disclosed, the Company received a notification letter from the NYSE American advising that the Company is not in compliance with the NYSE American continued listing standards set forth in Sections 1003(a)(ii) and (iii) of the NYSE Ameri
On May 31, 2024, Altisource Asset Management Corporation (the "Company") received a notification letter (the "Notice") from the NYSE American LLC (the "NYSE American") advising that the Company is not in compliance with the NYSE American continued listing standards set forth in Sections 1003(a)(ii) and (iii) of the NYSE American Company Guide given the reported stockholders' equity as of March 31, 2024, and losses from continuing operations and/or net losses in the Company's five most recent fiscal years ended December 31, 2023. The Notice also advised that the Company is not currently eligible for any exemption set forth in Section 1003(a) of the NYSE American Company Guide. In order to
Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE:AAMC) posts the following letter to shareholders: Dear Fellow Shareholders: From my perspective, one of the most important assets of AAMC is our interest in the EV Alpha Control System business. Our interest in the Alpha Control System could be worth zero or a considerable value, depending on our ability to execute the strategy. My task is to control expenditures to provide AAMC the time to realize the potential of our assets. The goal is to reduce operating expenditures below $2.5 million per year and to minimize any undue risk on the balance sheet. Inquiries have been received concerning the progress reports we
Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE:AAMC) posts the attached progress report for May 2024 concerning Project Alpha, Phase II, presented by Seabird Technologies Limited in connection with that certain Non-Exclusive Patent and Technology Licensing Agreement between the Company and System73 Limited, entered into on October 6, 2023. Elements of the Commercial and Engineering reports are redacted to protect sensitive proprietary information that the parties deem confidential, as well as additional claims to extend the patents. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240510511270/en/ About AA
Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE:AAMC) posts the attached progress report for April 2024 concerning Project Alpha, Phase II, presented by Seabird Technologies Limited in connection with that certain Non-Exclusive Patent and Technology Licensing Agreement between the Company and System73 Limited, entered into on October 6, 2023. Elements of the Commercial and Engineering reports are redacted to protect sensitive proprietary information that the parties deem confidential, as well as additional claims to extend the patents. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240510061421/en/ About
Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE:AAMC) posts the attached progress report for March 2024 concerning Project Alpha, Phase II, presented by Seabird Technologies Limited in connection with that certain Non-Exclusive Patent and Technology Licensing Agreement between the Company and System73 Limited, entered into on October 6, 2023 (the "PTLA"). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240506724989/en/ About AAMC AAMC is a private credit provider that originates alternative assets to provide liquidity and capital to under-served markets. AAMC works to employ capital light operating strat
Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE:AAMC) posts the attached progress report for February 2024 concerning Project Alpha, Phase II, presented by Seabird Technologies Limited in connection with that certain Non-Exclusive Patent and Technology Licensing Agreement between the Company and System73 Limited, entered into on October 6, 2023 (the "PTLA"). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240506423213/en/ About AAMC AAMC is a private credit provider that originates alternative assets to provide liquidity and capital to under-served markets. AAMC works to employ capital light operating st
Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE:AAMC) posts the attached progress report for January 2024 concerning Project Alpha, Phase II, presented by Seabird Technologies Limited in connection with that certain Non-Exclusive Patent and Technology Licensing Agreement between the Company and System73 Limited, entered into on October 6, 2023 (the "PTLA"). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240506920909/en/ About AAMC AAMC is a private credit provider that originates alternative assets to provide liquidity and capital to under-served markets. AAMC works to employ capital light operating str
Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE:AAMC) posts the attached progress reports for January, February and March 2024 concerning Project Alpha, Phase II, presented by Seabird Technologies Limited in connection with that certain Non-Exclusive Patent and Technology Licensing Agreement between the Company and System73 Limited, entered into on October 6, 2023 (the "PTLA"). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240429765096/en/ About AAMC AAMC is a private credit provider that originates alternative assets to provide liquidity and capital to under-served markets. AAMC works to employ capita
Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE:AAMC) announces that it has settled litigation with Luxor Capital Group, LP and related entities (collectively "Luxor") in respect of the Company's Series A Convertible Preferred Stock (the "Preferred Shares"), as well as separate litigation with former AAMC director Nathanel Redleaf. Settlement Highlights Luxor surrenders all 144,212 of its Preferred Shares, thereby extinguishing all rights under the related Securities Purchase Agreement and Certificate of Designations. The Company provides the following consideration to Luxor: A $1,000,000 cash payment now, plus Three Promissory Notes in the foll
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Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE:AAMC) announces that the Board of Directors has elected to cancel the previously reported 2 for 1 common stock split and instead is proceeding with a 70% stock dividend. The Board also announces the promotion of Richard Rodick, previously Vice President, Finance, to Chief Financial Officer. Mr. Rodick succeeds previous CFO Stephen Krallman, who is resigning from his role effective September 14, 2023. "On further analysis and consideration, the Board has determined that a stock dividend will be utilized instead of a stock split to accomplish the Company's objective of achieving compliance with the NYSE's listing requir
CHRISTIANSTED, U.S. Virgin Islands, July 06, 2022 (GLOBE NEWSWIRE) -- Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE:AAMC) today announced that the Board of Directors (the "Board") has appointed Jason Kopcak as the Chief Executive Officer of the Company and as a member of the Board. Prior to his appointment, Mr. Kopcak had been the President and Chief Operating Officer of the Company. The Board also appointed current director John P. de Jongh, Jr. as Chairman of the Board. Mr. de Jongh, Jr. had previously been interim Chairman of the Board. "The Board is pleased to announce the appointment of Jason as Chief Executive Officer and as a member of the Board. Jason's v
CHRISTIANSTED, U.S. Virgin Islands, Jan. 06, 2021 (GLOBE NEWSWIRE) -- Altisource Asset Management Corporation (“AAMC” or the “Company”) (NYSE American: AAMC) is pleased to announce that the Company has completed the previously announced transition contemplated by the Termination and Transition Agreement, dated August 13, 2020 (the “Termination Agreement”), by and among Front Yard Residential Corporation (“Front Yard”), Front Yard Residential L.P. and AAMC. Transaction Highlights AAMC was paid by Front Yard an aggregate termination fee of $46,000,000, of which $30,000,000 was paid to AAMC in cash and $16,000,000 was paid to AAMC in Front Yard’s common stock. AAMC transferred the eq
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Altisource Asset Mgmt's (NYSE:AAMC) short percent of float has risen 8.29% since its last report. The company recently reported that it has 28 thousand shares sold short, which is 2.35% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.14 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short in
As a result of the settlement, which has the effect of increasing the Company's Stockholders' Equity to an amount exceeding $6,000,000, the New York Stock Exchange informed the Company that its November 30, 2023 notice of intent to delist the Company's common stock would be rescinded."We are pleased to announce AAMC's global resolution of these matters relating to Luxor," said William Erbey, Chairman and CEO of AAMC. "This represents a positive start to 2024 as we continue to focus and work hard on initiatives to enhance shareholder value going forward."
Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE:AAMC) announces that it has settled litigation with Luxor Capital Group, LP and related entities (collectively "Luxor") in respect of the Company's Series A Convertible Preferred Stock (the "Preferred Shares"), as well as separate litigation with former AAMC director Nathanel Redleaf.Settlement HighlightsLuxor surrenders all 144,212 of its Preferred Shares, thereby extinguishing all rights under the related Securities Purchase Agreement and Certificate of Designations.The Company provides the following consideration to Luxor:A $1,000,000 cash payment now, plusThree Promissory Notes in the following amounts and durations:
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Shares of ReShape Lifesciences Inc. (NASDAQ:RSLS) rose sharply in pre-market trading after the company said it received FDA PMA supplement approval for its next-generation Lap-Band 2.0 FLEX. ReShape Lifesciences shares jumped 44.6% to $0.3630 in pre-market trading. Here are some other stocks moving in pre-market trading. Gainers RiskOn International, Inc. (NASDAQ:ROI) shares rose 84.3% to $0.2678 in pre-market trading after declining 9% on Tuesday. Innovative International Acquisition Corp. (NASDAQ:IOAC) shares rose 28.6% to $10.93 in pre-market trading. C4 Therapeutics, Inc. (NASDAQ:CCCC) gained 28.6% to $3.01 in pre-market trading after the company announced positive data from CFT
As of Dec. 11, 2023, five stocks in the real estate sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions. The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70, according to Benzinga Pro. Here’s the latest list of major overbought players in this sector. Altisource Asset Management Corporation (NYSE:AAMC) On Dec. 5, Altisource Asset Management report
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Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE:AAMC) announces that it has settled litigation with Luxor Capital Group, LP and related entities (collectively "Luxor") in respect of the Company's Series A Convertible Preferred Stock (the "Preferred Shares"), as well as separate litigation with former AAMC director Nathanel Redleaf. Settlement Highlights Luxor surrenders all 144,212 of its Preferred Shares, thereby extinguishing all rights under the related Securities Purchase Agreement and Certificate of Designations. The Company provides the following consideration to Luxor: A $1,000,000 cash payment now, plus Three Promissory Notes in the foll
Court Permits AAMC's Claims to Proceed Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE:AAMC) reports a key development in its litigation seeking damages from Blackrock and PIMCO pending in the Superior Court of the U.S. Virgin Islands. On December 4, 2023, the trial judge ruled that six of the seven named Defendants are subject to the court's jurisdiction and that all of the Company's statutory and tort claims against those defendants are permitted to proceed. In so doing, the trial judge endorsed the 132-page Recommendation previously issued by the Staff Master assigned to review the pending motions in the case. "We are pleased with this pivotal development in t
Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE:AAMC) announces the resignation of Danya Sawyer, Chief Operating Officer of Alternative Lending Group, the Company's principal operating subsidiary. Ms. Sawyer, whose departure was effective December 1, 2023, also served as AAMC's interim Chief Executive Officer during the recent restructuring of the Company's loan business. "We appreciate Danya's excellent service and contributions to the Company," said Chairman of the Board Ricardo Byrd. "We wish her well in her future endeavors." A successor CEO is expected to be announced within 30 days. About AAMC AAMC acquires, originates and manages mortgage loans, mortgage
Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE:AAMC) announces that on November 30, 2023, the Company received a written notice (the "Notice") from the New York Stock Exchange ("NYSE" or the "Exchange") that the NYSE would delist the Company's shares of common stock (the "Securities") from the Exchange. NYSE Regulation staff has determined that the Company is no longer qualified for listing pursuant to Section 1009(a) of the NYSE American Company Guide, citing non-compliance with Sections 1003(a)(i), (ii) and (iii) thereof. The Company has a right to appeal this determination, provided that it files a written request for such review within seven (7) calendar days
Company Moves Forward with Restructure of Lending Operations Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE:AAMC) announces the resignation of Chief Executive Officer, Jason Kopcak. "We remain committed to the mortgage space," said Chairman of the Board Ricardo Byrd. "As the Board considers potential replacements, we have appointed Danya Sawyer, Chief Operating Officer of Alternative Lending Group, the Company's principal operating subsidiary, to serve as Interim CEO of AAMC." Significant Progress on Cost Cutting Initiatives and Enhancing Liquidity As announced during the Company's recent Earnings Call, the Board mandated a comprehensive review of the Compan
Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE:AAMC) today announced financial and operating results for the second quarter of 2023. Second Quarter 2023 Results and Recent Developments AAMC obtained a favorable ruling in its litigation with its preferred shareholder, Luxor, where the appeals court found that AAMC did not breach any contractual obligations. In the Company's lawsuit against Blackrock and PIMCO, a court-appointed Staff Master recommended that all of the Company's tort and CICO damage claims may proceed in USVI court. AAMC second quarter operating results 2023 were similar to the first quarter of 2023. In July 2023, AAMC's Board of Dire
Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE:AAMC) will host a conference call and live webcast on August 14, 2023, at 4:15 p.m. EDT to discuss the results of the second quarter ended June 30, 2023. Please submit any questions in advance of the call to [email protected] prior to 4:00 p.m. EDT, August 10, 2023. For those who wish to participate, the domestic toll-free access number is 888 394-8218 or for international callers 646 828-8193. We will also host a live webcast of the investor call on the following link: AAMC Investor Call - 1628094 (webcasts.com). A replay will be available shortly after the call and can be found at Presentations | Altisource Asset
Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE: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
Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE:AAMC) will host a conference call and live webcast on May 15, 2023, at 8:30 a.m. EDT to discuss the results of the first quarter ended March 31, 2023. Please submit any questions in advance of the call to [email protected] prior to 4:00 p.m. EDT, May 11, 2023. For those who wish to participate, the domestic toll-free access number is 1-888-394-8218, or for international callers, 1-646-828-8193. We will also host a live webcast of the investor call on the following link: https://event.webcasts.com/starthere.jsp?ei=1609265&tp_key=cbccf6bcd4. A replay will be available shortly after the call and can be found at https:
Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE:AAMC) today announced financial and operating results for the fourth quarter and full year of 2022. Fourth Quarter 2022 Highlights and Recent Developments Entered into forward contracts to sell alternative credit products to two of the US's largest institutional counterparties that manage insurance and credit money assets on January 31, 2023. The organizations have over $50 billion and $15 billion in assets under management. Earned $2.5 million from loan interest and fee income during the fourth quarter of 2022. As of December 31, 2022, AAMC's cash position was $12.8 million, which is net of the $94.7 million at