- Altisource Portfolio Solutions ( NASDAQ: ASPS ) shares dropped 19% premarket on Friday after the real estate services firm priced its $20M stock offering .
- The offering comprises 4M shares of common stock issued at a price to the public of $5/share. Underwriters have been granted a thirty-day option to purchase up to an additional 600k shares at the public offering price, less underwriting discounts and commissions.
- Net proceeds of the offering will be used for repayment of certain indebtedness and working capital, including potentially using the entirety of the net proceeds for repayment of indebtedness.
- The offering is expected to close on or about Feb. 14, 2023.
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Altisource Portfolio stock dips after pricing $20M stock offering