Deer Park Road Management Files SC 13D/A for Altisource

TL;DR

Deer Park Road Management updated their stake in Altisource. Keep an eye on this one.

AI Summary

On June 20, 2024, Deer Park Road Management Company, LP, along with its affiliates Agatecreek LLC and Deer Park Road Corp, filed an amendment to their Schedule 13D. This filing indicates a change in beneficial ownership of Altisource Portfolio Solutions S.A. The filing does not specify a dollar amount or a precise percentage change in ownership but signifies an ongoing relationship and potential strategic interest in the company.

Why It Matters

This filing signals a potential shift in the shareholder landscape for Altisource Portfolio Solutions S.A., which could influence future corporate actions or strategies.

Risk Assessment

Risk Level: medium — Schedule 13D filings often indicate significant investor activity, which can lead to volatility or strategic changes in the subject company.

Key Players & Entities

• Deer Park Road Management Company, LP (company) — Filer of the Schedule 13D/A
• Altisource Portfolio Solutions S.A. (company) — Subject company of the filing
• Agatecreek LLC (company) — Affiliate of the filer
• Deer Park Road Corp (company) — Affiliate of the filer
• MICHAEL CRAIG-SCHECKMAN (person) — Group member
• SCOTT EDWARD BURG (person) — Group member

FAQ

Key Financial Figures

• $1.00 — me of Issuer) Common Stock, par value $1.00 per share (Title of Class of Securiti
• $9.7305 — broker, at a weighted average price of $9.7305 per Share for a total of approximately
• $188,946 — per Share for a total of approximately $188,946.85, excluding commissions. The actual p
• $9.44 — ssions. The actual prices range between $9.44 to $10.13. The Reporting Persons furthe
• $10.13 — he actual prices range between $9.44 to $10.13. The Reporting Persons further undertak
• $4.7437 — broker, at a weighted average price of $4.7437 per Share for a total of approximately
• $194,491 — per Share for a total of approximately $194,491.70, excluding commissions. The actual p
• $4.48 — ssions. The actual prices range between $4.48 to $4.965. The Reporting Persons furthe
• $4.965 — he actual prices range between $4.48 to $4.965. The Reporting Persons further undertak
• $5.00 — market, through a broker, at a price of $5.00 per Share for a total of $2,000,000.00,
• $2,000,000 — price of $5.00 per Share for a total of $2,000,000.00, excluding commissions. On May 16,

Filing Documents

• ef20031352_sc13da.htm (SC 13D/A) — 203KB
• 0001140361-24-030719.txt ( ) — 205KB

of the Schedule 13D is hereby amended and restated as follows

Item 1 of the Schedule 13D is hereby amended and restated as follows: This Amendment No. 8 to Schedule 13D ("Amendment No. 8") is being filed by the undersigned, pursuant to 240.13d-2(a), with respect to the common stock, par value $1.00 per share (the "Shares"), of Altisource Portfolio Solutions S.A. (the "Issuer" or the "Company"), whose principal executive offices are located at 33, Boulevard Prince Henri, L-1724 Luxembourg, Grand Duchy of Luxembourg. This Amendment No. 8 amends and supplements the Schedule 13D filed by the Reporting Persons with the Securities and Exchange Commission (the "SEC") on August 17, 2018, as amended by Amendment No. 1, filed with the SEC on August 24, 2018, Amendment No. 2, filed with the SEC on August 30, 2018, Amendment No. 3, filed with the SEC on September 27, 2018, Amendment No. 4, filed with the SEC on November 4, 2019, Amendment No. 5, filed with the SEC on March 17, 2020, Amendment No. 6, filed with the SEC on May 11, 2020, and Amendment No. 7, filed with the SEC on August 18, 2020 (collectively, the "Schedule 13D"). Except as specifically provided herein, this Amendment No. 8 does not modify any of the information previously reported in the Schedule 13D. Capitalized terms used but not defined in this Amendment No. 8 shall have the meanings given them in the Schedule 13D. Item 3. Source and Amount of Funds or Other Considerations

of the Schedule 13D is hereby amended and supplemented by adding the following

Item 3 of the Schedule 13D is hereby amended and supplemented by adding the following : On May 18, 2021, the Issuer granted Mr. Burg a non-management director stock award in the amount of 12,786 Shares in connection with his service on the Issuer's Board for the 2020 to 2021 service year. Such Shares are held for the account of STS Master Fund. No funds were used to acquire such Shares. On March 15, 2022, STS Master Fund purchased 19,418 Shares in the open market, through a broker, at a weighted average price of $9.7305 per Share for a total of approximately $188,946.85, excluding commissions. The actual prices range between $9.44 to $10.13. The Reporting Persons further undertake to provide upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of Shares purchased at each separate price reported herein. On May 17, 2022, the Issuer granted 500 Shares to Mary Hickok ("Ms. Hickok"), the Managing Director of Deer Park, in connection with her appointment to the Issuer's Board. Such Shares vest in four equal installments, with the initial portion having vested on the date of the Issuer's 2022 annual meeting, with vesting continuing on the dates of the next three annual meetings. Also on May 17, 2022, the Issuer granted non-management director stock awards to Mr. Burg and Ms. Hickock in the amount of an aggregate 17,180 Shares in connection with their respective service on the Issuer's Board for the 2021 to 2022 service year. Such Shares are held for the account of STS Master Fund. No funds were used to acquire such Shares. On February 10, 2023, STS Master Fund purchased 41,000 Shares in the open market, through a broker, at a weighted average price of $4.7437 per Share for a total of approximately $194,491.70, excluding commissions. The actual prices range between $4.48 to $4.965. The Reporting Persons further undertake to provide upon request by the SEC staff, the Issuer, or a security holder of the Issue

of the Schedule 13D is hereby amended and supplemented by adding the following

Item 4 of the Schedule 13D is hereby amended and supplemented by adding the following : On March 1, 2022, Mr. Burg resigned from the Issuer's Board and was replaced by Ms. Hickok. Item 5. Interest in Securities of the Issuer Items 5(a), (b) and (c) of the Schedule 13D are hereby amended and supplemented by adding the following : (a, b) As of February 14, 2023, each of the Reporting Persons may have been deemed the beneficial owner of 4,236,899 Shares (approximately 20.6% of the total number of Shares outstanding). This amount includes 250 Shares of the 500 Shares that were awarded to Ms. Hickok on May 17, 2022, 125 of which vested on May 30, 2024, and the remaining 125 of which will vest on the date of the Issuer's 2025 annual meeting. The foregoing beneficial ownership percentage is based on a total of 20,666,319 Shares outstanding as of February 14, 2023 following the closing of the Issuer's underwritten public offering of 4,550,000 Shares (inclusive of 550,000 Shares that were sold pursuant to the underwriters' partial exercise of their option to purchase additional Shares), as disclosed in the Prospectus Supplement, as filed with the SEC on February 13, 2023, and supplemented by the Issuer's Form 8-K, as filed with the SEC on February 14, 2023. As of the date hereof, each of the Reporting Persons may be deemed the beneficial owner of 4,277,263 Shares (approximately 15.9% of the total number of Shares outstanding). This amount includes 125 Shares of the 500 Shares that were awarded to Ms. Hickok on May 17, 2022 that will vest on the date of the Issuer's 2025 annual meeting. The foregoing beneficial ownership percentage is based on a total of 26,959,686 Shares outstanding as of April 19, 2024, as disclosed in the Issuer's Form 10-Q, as filed with the SEC on April 25, 2024. (c) The response to Item 3 of this Amendment No. 8 is incorporated by reference herein. Except as otherwise disclosed herein, no other transactions in the Shares have been effected by th

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View this SC 13D/A filing on SEC EDGAR