Additional Proxy Soliciting Materials - Non-management (definitive) (dfan14a)
24 Janvier 2022 - 04:40PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 14A
(Rule 14a-101)
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to
Section 14(a) of
the Securities Exchange Act of 1934
Filed by the Registrant ¨
Filed by a Party other than the Registrant x
Check the appropriate box:
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Preliminary Proxy Statement |
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Confidential, for Use of the
Commission Only (as permitted by Rule 14a-6(e)(2)) |
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Definitive Proxy Statement |
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Definitive Additional
Materials |
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Soliciting Material Pursuant to
Rule 14a-12 |
ALTISOURCE ASSET MANAGEMENT CORPORATION
(Name of Registrant as Specified in
its Charter)
PALM MANAGEMENT (US) LLC
PALM GLOBAL SMALL CAP MASTER FUND LP
JOSHUA S. HOROWITZ
BRADLEY C. PALMER
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(Name of Person(s) Filing Proxy
Statement, if other than the Registrant)
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Exchange Act Rules 14a-6(i)(1) and 0-11. |
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Aggregate number of securities to
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Per unit price or other underlying
value of transaction computed pursuant to Exchange Act
Rule 0-11 (Set forth the amount on which the filing fee is
calculated and state how it was determined): |
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Fee paid previously with preliminary materials. |
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Check box if any part of the fee is offset as provided by
Exchange Act Rule 0-11(a)(2) and identify the filing for which
the offsetting fee was paid previously. Identify the previous
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Statement No.: |
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Joshua S. Horowitz
c/o Palm Global Small Cap Master Fund LP
19 West Elm Street
Greenwich, CT 06830
Altisource Asset Management Corporation
5100 Tamarind Reef
Christiansted, U.S. Virgin Islands 00820
Attn: The Board of Directors
Mr. John P. de Jongh, Jr.
Mr. Ricardo C. Byrd
Mr. John A. Engerman
January 24, 2022
Dear Mr. de Jongh Jr., Mr. Byrd, and Mr. Engerman,
Together with Palm Global Small Cap Master Fund LP, we are the
beneficial holders of 42,200 shares of AAMC (“The Company”).
We have watched AAMC for several years before making our first
investment. We were encouraged by many of the changes that we saw
at the Company, including the sale of the Front Yard assets and the
company’s publicly stated intentions to create an asset management
platform. The Company’s recent legal settlements with its Series A
Convertible Preferred Stockholders, some of whom are large,
sophisticated asset managers, also appeared to be promising. After
years of decline in shareholder value, the Company finally looked
to be on solid footing.
In light of this progress, we were surprised by the Company’s
November 30, 2021 disclosure that the New York Stock Exchange (the
“NYSE”) notified the Company that it was halting trading in the
Company’s common stock as it had regulatory concerns about the
Company’s compliance with the NYSE American’s continued listing
standards.
While some public companies fall out of compliance with major
exchanges from time to time, we have never experienced a situation
quite like this. The lack of investor communication, failure to
articulate a plan to regain compliance, and sheer complacency that
our securities can go weeks upon weeks without trading is
unacceptable. We are prepared and willing to step in, including by
adding members to the Company’s Board of Directors, to help in
preparing and implementing a plan in order for the Company to
regain compliance with the stock exchange listing standards and
otherwise help move a plan forward for shareholders.
Warm Regards,
Joshua S. Horowitz
Palm Global Small Cap Master Fund LP
# # #
Palm Management (US) LLC and Palm Global Small Cap Master Fund LP
(collectively, “Palm Global”) intend to make a filing with the
Securities and Exchange Commission (the “SEC”) of a proxy statement
and accompanying proxy card to solicit votes for the election of
director nominees at the 2022 annual meeting of shareholders of
Altisource Asset Management Corporation (“AAMC” or the
“Company”).
Palm Global Small Cap Master Fund LP directly and beneficially owns
39,500 shares of common stock of the Company. Palm Management (US)
LLC, which is the investment manager of Palm Global Small Cap
Master Fund LP, Bradley C. Palmer, who is a principal of Palm
Management (US) LLC, and Joshua S. Horowitz, who is a portfolio
manager at Palm Management (US) LLC, may be deemed to beneficially
own these shares. Mr. Horowitz also directly holds 2,700 shares of
common stock of the Company.
Palm Management (US) LLC and Palm Global Small Cap Master Fund LP,
their control persons and their nominees to the AAMC board will be
the participants in this proxy solicitation. Information regarding
the participants and their interests in the solicitation will be
included in the Palm Global’s proxy statement and other materials
filed with the SEC. SHAREHOLDERS OF THE COMPANY SHOULD READ THE
PROXY STATEMENT AND OTHER PROXY MATERIALS CAREFULLY AND IN THEIR
ENTIRETY AS THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT
INFORMATION RELATING TO THE ANNUAL MEETING AND PALM GLOBAL’S
NOMINEES TO THE BOARD AND SOLICITATION OF PROXIES. THESE PROXY
MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC’S WEBSITE AT
WWW.SEC.GOV OR FROM PALM GLOBAL AT (203) 302-7000.
Altisource Asset Managem... (AMEX:AAMC)
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