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AAMC Announces Agreement with B. Riley Financial to Repurchase Common Stock

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Altisource Asset Management Corporation (AAMC) announced an agreement with B. Riley Financial to act as the exclusive broker for its stock buyback initiative. This follows recent increases in AAMC's stock price, which the CEO, Jason Kopcak, believes remains undervalued as the company transitions from the buildout to the normalization phase. Buybacks will depend on capital needs, stock price, and operational results. The buyback aims to enhance shareholder value and reflects the company's confidence in its future growth.

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  • Engagement of B. Riley Financial as exclusive broker for stock buyback, enhancing shareholder value.
  • CEO states stock is undervalued, indicating potential for future gains.
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CHRISTIANSTED, U.S. Virgin Islands--(BUSINESS WIRE)-- Altisource Asset Management Corporation (“AAMC” or the “Company”) (NYSE: AAMC) announced that it has entered into an agreement with B. Riley Financial to be the exclusive broker for the Company to facilitate the buyback of shares of the Company’s common stock under its previously announced repurchase plan.

“While the Company’s stock price has increased recently, we still believe the current stock price is undervalued relative to where we expect to be once our first platform transitions from the buildout phase to the normalization phase,” said Jason Kopcak, CEO of AAMC.

Any repurchases of common stock will be subject to the Company’s capital needs, the trading price of our common stock and the Company’s operating results.

About AAMC

AAMC is a private credit provider that originates alternative assets to provide liquidity and capital to under-served markets. We also continue to assess opportunities that could potentially be of long-term benefit to shareholders. Additional information is available at www.altisourceamc.com.

About B. Riley Financial

B. Riley Financial is a diversified financial services platform that delivers tailored solutions to meet the strategic, operational, and capital needs of its clients and partners. B. Riley leverages cross-platform expertise to provide clients with full service, collaborative solutions at every stage of the business life cycle. Through its affiliated subsidiaries, B. Riley provides end-to-end, collaborative financial services across investment banking, institutional brokerage, private wealth and investment management, financial consulting, corporate restructuring, operations management, risk and compliance, due diligence, forensic accounting, litigation support, appraisal and valuation, auction, and liquidation services. B. Riley opportunistically invests to benefit its shareholders, and certain registered affiliates originate and underwrite senior secured loans for asset-rich companies. B. Riley refers to B. Riley Financial, Inc. and/or one or more of its subsidiaries or affiliates. For more information, please visit www.brileyfin.com.

Forward-looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding management’s beliefs, estimates, projections, anticipations, and assumptions. These statements may be identified by words such as “anticipate,” “intend,” “expect,” “may,” “could,” “should,” “would,” “plan,” “estimate,” “target,” “seek,” “believe” and other expressions or words of similar meaning. We caution that forward-looking statements are qualified by the existence of certain risks and uncertainties that could cause actual results and events to differ materially from what is contemplated by the forward-looking statements.

The statements made in this press release are current as of the date of this press release only. The Company undertakes no obligation to publicly update or revise any forward-looking statements or any other information contained herein, whether as a result of new information, future events or otherwise.

Investor Relations

T: +1-704-275-9113

E: IR@AltisourceAMC.com

Twitter: @altisourceamc

Source: Altisource Asset Management Corporation

FAQ

What is the purpose of AAMC's stock buyback?

The stock buyback aims to enhance shareholder value and reflect confidence in AAMC's future growth.

When did AAMC announce its stock buyback agreement?

AAMC announced its stock buyback agreement on the date of the press release.

Who is the broker for AAMC's buyback plan?

B. Riley Financial is acting as the exclusive broker for AAMC's stock buyback plan.

How does AAMC determine the stock buyback amount?

AAMC's stock buyback amount will be subject to the company's capital needs, stock trading price, and operating results.

Altisource Asset Mgmt Corp

NYSE:AAMC

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