Altisource Asset Management Corporation Reports Receipt of Communications from NYSE
04 Décembre 2023 - 10:05PM
Business Wire
Altisource Asset Management Corporation (“AAMC” or the
“Company”) (NYSE American: AAMC) announces that on November 30,
2023, the Company received a written notice (the “Notice”) from the
New York Stock Exchange (“NYSE” or the “Exchange”) that the NYSE
would delist the Company’s shares of common stock (the
“Securities”) from the Exchange. NYSE Regulation staff has
determined that the Company is no longer qualified for listing
pursuant to Section 1009(a) of the NYSE American Company Guide,
citing non-compliance with Sections 1003(a)(i), (ii) and (iii)
thereof.
The Company has a right to appeal this determination, provided
that it files a written request for such review within seven (7)
calendar days after receiving the Notice. The Company’s board of
directors (the “Board”) intends to exercise its right to appeal the
NYSE Regulation staff’s determination by the Listings
Qualifications Panel of the Committee for Review of the Board of
Directors of the Exchange (the “Panel”). Following such appeal and
a decision by the Panel, NYSE American or the Company will make an
announcement regarding either delisting or continued trading of the
Company’s common stock. There can be no assurance of the outcome of
any such appeal or that the Exchange will reconsider its decision
to delist the Company in light of such appeal.
About AAMC
AAMC acquires, originates and manages mortgage loans,
mortgage-backed securities and equity investments in underserved
markets. Additional information is available at
www.altisourceamc.com.
AAMC works to employ capital light operating strategies that
have historically been implemented across a variety of industry
sectors ranging from REIT management and title insurance and
reinsurance to private loan acquisition, origination and
disposition. AAMC is committed to an investment philosophy of
opportunistic deployment of capital in new ventures that we believe
will be accretive to shareholder value. We are likewise committed,
as a matter of core corporate values, to exemplary environmental,
social and governance principles.
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
obtain funding, 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, our ability to obtain funding, market and industry
conditions, particularly with respect to industry margins for loan
products we may purchase, originate, or sell as well as the current
inflationary economic and market conditions and rising interest
rate environment; our ability to hire employees and the hiring of
such employees; developments in the litigation regarding our
redemption obligations under the Certificate of Designations of our
Series A Convertible Preferred Stock; 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231204736077/en/
Charles Frischer T: +1-813-474-9047 E:
charles.frischer@altisourceamc.com
Altisource Asset Managem... (AMEX:AAMC)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
Altisource Asset Managem... (AMEX:AAMC)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024