Welcome to our dedicated page for Altisource Asset Mgmt news (Ticker: AAMC), a resource for investors and traders seeking the latest updates and insights on Altisource Asset Mgmt stock.
Altisource Asset Management Corp (NYSE: AAMC) provides institutional investors with specialized asset management and corporate governance solutions. This page serves as the definitive source for verified news and official announcements related to AAMC's operations, strategic initiatives, and market position.
Key updates include earnings reports, leadership changes, governance developments, and partnership announcements. Investors gain access to primary-source materials including SEC filings, press releases, and operational updates from AAMC's global offices in the U.S. Virgin Islands, Luxembourg, and India.
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Altisource Asset Management Corporation (NYSE: AAMC) announced the purchase of 286,873 shares of its common stock from Putnam Focused Equity Fund at $10 per share. CEO Jason Kopcak views this as a unique opportunity to buy shares below market price, enhancing shareholder value. The company expresses confidence in its strategic direction and plans to inform shareholders of upcoming developments. AAMC focuses on providing liquidity and capital to underserved markets, assessing potential long-term benefits, including Crypto-ATMs.
Altisource Asset Management Corporation (AAMC) announced the appointment of Jason Kopcak as the new CEO, succeeding the role of President and Chief Operating Officer. The Board also appointed John P. de Jongh, Jr. as Chairman. This leadership change aims to strengthen AAMC’s alternative lending business. Kopcak expressed commitment to developing the company’s platform and creating long-term shareholder value. AAMC focuses on providing liquidity to underserved markets and exploring additional opportunities, including Crypto-ATMs.
Altisource Asset Management Corporation (AAMC) announced it received a deficiency letter from NYSE American, indicating non-compliance with continued listing standards. The company has until June 30, 2022, to submit a plan to address compliance issues, aiming for a resolution by November 30, 2023. While the letter does not lead to immediate delisting, failure to meet the NYSE's requirements may initiate delisting procedures. The letter does not impact AAMC's business operations or reporting to the SEC.
Altisource Asset Management Corporation (AAMC) has announced the expiration of Thomas K. McCarthy's term as Interim CEO on May 31, 2022, with a $250,000 bonus for his service. The company welcomes a new Head of Sales for its Alternative Lending Group, with extensive experience in mortgage sales. Additionally, AAMC acquired $11 million in loan commitments since March 31, 2022, with another $23.9 million under evaluation. The company is also finalizing a lease for its new office in Tampa, Florida, set to begin July 1, 2022.
Altisource Asset Management Corporation (AAMC) announced significant insider stock purchases on April 27, 2022. Directors Ricardo C. Byrd and John P. de Jongh, Jr., along with CFO Stephen R. Krallman, acquired 1,886, 1,000, and 2,000 shares, respectively. Additionally, newly appointed President and COO Jason Kopcak purchased 5,000 shares. The company aims to expand its Alternative Lending Group and explore opportunities in the Crypto ATM space. These insider transactions may indicate confidence in AAMC's future prospects.
Altisource Asset Management Corporation (AAMC) announced its Q1 2022 financial results, reporting a net loss of $(3.7) million compared to a net income of $5.9 million in Q1 2021. Highlights include the formation of the Alternative Lending Group with a capital commitment of $40 million for alternative mortgage loans, and a cash position of $54.3 million after acquiring loans. AAMC also settled with investors for 5,788 Series A shares, resulting in a $5.1 million gain. The company appointed Jason Kopcak as COO to lead ALG, aiming for growth and profitability.
Altisource Asset Management Corporation (AAMC) announced its financial results for Q4 and full-year 2021, reporting a significant net loss of $(8.4) million for Q4, contrasting with a net income of $39.7 million in Q4 2020. Total net loss for the year was $(6.0) million, compared to a net income of $39.8 million in 2020. AAMC launched its Alternative Lending Group with a $40 million commitment and a current pipeline of $27.7 million in loans. The company has also settled debts related to Series A Convertible Preferred Stock, agreeing to pay approximately $665 thousand.
AAMC has launched a new Alternative Lending Group with an initial capital commitment of up to $40 million to acquire and originate alternative mortgage loans. The company has signed contracts for approximately $22 million of loans, expected to close soon. Jason Kopcak has been appointed as President and COO to lead this group. Additionally, AAMC has secured a right of first refusal with ForumPay for deploying crypto-enabled ATMs, earmarking $2 million for initial investments. AAMC's stock will resume trading on the NYSE American starting March 21, 2022.
Altisource Asset Management Corporation (AAMC) has reached a settlement with two institutional investors regarding its Series A Convertible Preferred Stock. AAMC will pay approximately $665,000 to settle a $5.79 million liquidation preference, leading to an estimated gain of $5.1 million in additional paid-in capital for Q1 2022. The remaining liquidation preference of Series A Shares will be around $144.2 million. AAMC has now settled with all holders of Series A Preferred Stock except the Luxor Funds, strengthening its litigation position against them.
Altisource Asset Management Corporation (AAMC) reported its financial results for the third quarter of 2021. The company maintains liquidity with $84.5 million in cash and has settled 18,200 shares of Series A Convertible Preferred Stock, increasing equity by $16.1 million. AAMC is no longer classified as an 'investment company' and is focusing on cash and government securities while exploring new business opportunities, including potential mergers in cryptocurrency. However, the company reported a net loss of $5.7 million for Q3 2021 compared to a net income of $11.8 million in Q3 2020.
