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- Altisource (NASDAQ:ASPS) said on Thursday that it had commenced an underwritten public offering of shares of its common stock.
- Shares of ASPS sank nearly 13% in after hours trading.
- ASPS added that it intends to grant the underwriters a thirty-day option to purchase up to an additional 15% of shares of its common stock offered in the public offering.
- According to ASPS, B. Riley Securities is acting as the sole book-running manager for the offering.
- The company said it intends to use the net proceeds from the offering for general corporate purposes.
- Press Release
Their day will come, but it’s still a ways away. This is one to watch closely.
@Jamm Systems
Would have been nice to know for existing shareholders who want to be in the know. Seems like the company is barely holding its head above water month to month. I know it has immense growth potential, but I am eager to see some actual returns.