AMENDED: Altisource Asset Management Corporation Announces an Update to Its Business Model

Rhea-AI Summary

Altisource Asset Management Corporation (AAMC) has announced an update to its business model, emphasizing its commitment to providing liquidity and capital to under-served markets. The Company is exploring new long-term opportunities, such as Crypto-ATMs, to enhance shareholder value. The update aims to inform stakeholders regarding the Company’s strategic direction and future initiatives. Interested parties can find more details in the Business Model Update available through the provided link.

Positive

• Company is updating its business model to enhance operational efficiency.
• Exploring opportunities in emerging markets like Crypto-ATMs which could benefit shareholders.

Negative

• Forward-looking statements carry risks and uncertainties that could impact financial results.
• Dependence on market conditions and ability to sell loans affects future operations.

CHRISTIANSTED, U.S. Virgin Islands, Aug. 24, 2022 (GLOBE NEWSWIRE) -- In a release issued under the same headline earlier today by Altisource Asset Management Corporation (NYSE American: AAMC), please note that the hyperlink for the Business Model Update in the first paragraph was incorrect. The corrected release follows:

Altisource Asset Management Corporation (“AAMC” or the “Company”) (NYSE American: AAMC) announced today that it has updated its business model. The Business Model Update is available at https://ir.altisourceamc.com/events-presentations.

About AAMC

AAMC is an alternative lending company that provides liquidity and capital to under-served markets. We also continue to assess opportunities that could potentially be of long-term benefit to shareholders such as Crypto-ATMs.

Additional information is available at www.altisourceamc.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 with respect to, among other things, the Company’s financial results, margins, employee costs, future operations, business plans, including its ability to sell loans, and investment strategies as well as industry and market conditions. 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. Factors that could cause our actual results to differ materially from these forward-looking statements may include, without limitation: our ability to develop our businesses and to make them successful or sustain the performance of any such businesses; our ability to purchase, originate, and sell loans; market and industry conditions, particularly with respect to industry margins for loan products we may purchase, originate, or sell; our ability to hire employees and the cost of hiring such employees; and other risks and uncertainties detailed in the “Risk Factors” and other sections described from time to time in the Company’s current and future filings with the Securities and Exchange Commission. The foregoing list of factors should not be construed as exhaustive.

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.

FAQ

What business model updates were announced by AAMC on August 24, 2022?

AAMC announced an update to its business model focusing on providing liquidity to under-served markets and exploring new opportunities like Crypto-ATMs.

How does AAMC plan to benefit shareholders with its new business model?

AAMC aims to enhance shareholder value by exploring long-term opportunities in emerging markets, notably through initiatives like Crypto-ATMs.

What risks are associated with AAMC's forward-looking statements?

AAMC's forward-looking statements carry risks related to market conditions, operational capabilities, and the ability to sell loans, which could affect performance.