Altisource Faces NYSE Delisting Warning Over Late Filings

TL;DR

NYSE warning for Altisource - need to file 10-K by June 2025 or get delisted.

AI Summary

Altisource Portfolio Solutions S.A. announced on December 23, 2024, that it received a notice from the New York Stock Exchange (NYSE) on December 19, 2024, indicating non-compliance with listing standards due to its failure to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2023. The company has a six-month period, until June 17, 2025, to regain compliance.

Why It Matters

This notice signals potential financial reporting issues and could impact investor confidence and the stock's liquidity if not resolved promptly.

Risk Assessment

Risk Level: medium — The company is at risk of delisting from the NYSE if it cannot file its overdue financial reports within the specified timeframe.

Key Numbers

• 6 months — Compliance Period (Timeframe to file overdue 10-K)

Key Players & Entities

• ALTISOURCE PORTFOLIO SOLUTIONS S.A. (company) — Registrant
• New York Stock Exchange (NYSE) (company) — Listing Exchange
• December 23, 2024 (date) — Report Date
• December 19, 2024 (date) — Date of NYSE Notice
• June 17, 2025 (date) — Compliance Deadline
• Form 10-K (document) — Overdue Filing

FAQ

Key Financial Figures

• $1.00 — ange on which registered Common Stock, $1.00 par value ASPS NASDAQ Global Select Ma
• $15 million — ") was below the minimum requirement of $15 million for continued listing on The Nasdaq Glo

Filing Documents

• asps-20241223.htm (8-K) — 35KB
• 0001462418-24-000057.txt ( ) — 159KB
• asps-20241223.xsd (EX-101.SCH) — 2KB
• asps-20241223_lab.xml (EX-101.LAB) — 21KB
• asps-20241223_pre.xml (EX-101.PRE) — 12KB
• asps-20241223_htm.xml (XML) — 3KB

01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On December 19, 2024, Altisource Portfolio Solutions S.A. (the "Company") received a letter (the "Bid Price Notice") from The Nasdaq Stock Market ("Nasdaq") notifying the Company that, because the closing bid price for its common stock has been below $1.00 per share for 30 consecutive business days, it no longer complies with the minimum bid price requirement for continued listing on The Nasdaq Global Select Market. Nasdaq Listing Rule 5450(a)(1) requires listed securities to maintain a minimum bid price of $1.00 per share (the "Minimum Bid Price Rule"), and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the Minimum Bid Price Rule exists if the deficiency continues for a period of 30 consecutive business days. Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial compliance period of 180 calendar days, or until June 17, 2025, to regain compliance with the Minimum Bid Price Rule. The Bid Price Notice states that the Nasdaq staff will provide written confirmation that the Company has achieved compliance with the Minimum Bid Price Rule if at any time before June 17, 2025, the bid price of the Company's common stock closes at $1.00 per share or more for a minimum of ten consecutive business days. In the event the Company is not in compliance with the Minimum Bid Price Rule by June 17, 2025, the Company may be afforded a second 180 calendar day grace period. To qualify, the Company must submit an application to transfer the listing of its common stock to The Nasdaq Capital Market, which requires the Company meet the continued listing requirement for the market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, other than the Minimum Bid Price Rule. The Company would also need to pay an application fee to Nasdaq and to provide written notice of its intention t

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties and assumptions that are difficult to predict. These forward-looking statements include all words and expressions reflecting optimism, satisfaction or disappointment with current prospects or future events, as well as statements that are not historical fact, including statements that relate to, among other things, future events or our future performance or financial condition. These statements may be identified by the use of future tense or words such as "anticipate," "intend," "expect," "may," "could," "should," "would," "plan," "estimate," "seek," "believe," "potential" or "continue" or the negative of these terms and comparable terminology, but their absence does not mean that a statement is not forward-looking. Furthermore, forward-looking statements are not guarantees of future performance and involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially. Important factors that could cause actual results to differ materially from those suggested by the forward-looking statements include, but are not limited to, the risks discussed in Item 1A of Part I "Risk Factors" in our most recent Form 10-K filing with the Securities and Exchange Commission, as the same may be updated from time to time in our Form 10-Q filings. We caution you not to place undue reliance on these forward-looking statements which reflect our view only as of the date of this report. We are under no obligation (and expressly disclaim any obligation) to update or alter any forward-looking statements contained herein to reflect any change in our expectations with regard thereto or change in events, conditions or circumstances on which any such statement is based, except as required by law. There can be no assurance that the Company

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View this 8-K filing on SEC EDGAR