AAMC Announces Agreement with B. Riley Financial to Repurchase Common Stock
07 Février 2023 - 02:27PM
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230207005316/en/
Investor Relations T: +1-704-275-9113 E: IR@AltisourceAMC.com
Twitter: @altisourceamc
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