Altisource Portfolio Solutions S.A. (ASPS), a real estate and mortgage services provider, announced a 1-for-8 reverse stock split effective 12:01 a.m. CET on May 28, 2025.
The company's common stock will begin trading on a consolidated basis on the Nasdaq Global Select Market under the same ticker symbol with a new CUSIP number (L0175J 138). This move aims to help Altisource regain compliance with Nasdaq's minimum $1.00 bid price requirement.
The reverse split will reduce outstanding common shares from approximately 88.95 million to about 11.12 million, without altering the total number of authorized shares. Fractional shares will not be issued; instead, shareholders entitled to a fraction will receive a cash payout based on the stock's closing price on May 27, 2025. Stock options and warrants will be adjusted accordingly.
ASPS is currently trading at $0.82 or 1.20% lower on the Nasdaq Global Select Market.
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