ASPSZ

Altisource Portfolio Solutions Series Z Securities represent a specialized class of equity or equity-linked instruments issued by Altisource Portfolio Solutions, potentially including preferred stock, convertible securities, or other structured instruments with specific rights, preferences, and economic terms distinct from common stock. The "Z" designation typically indicates a specific series within a broader capital structure possibly created during financing transactions, debt restructuring proceedings, or strategic recapitalizations addressing the company's capital needs during periods of operational transition. These securities may feature characteristics including liquidation preferences providing Series Z holders with priority claims over common shareholders if Altisource liquidates, conversion rights allowing exchange into common stock under predetermined conditions and pricing formulas, dividend provisions requiring periodic payments or cumulative accrual, and voting rights potentially differing from standard common stock. Altisource implemented various capital structure adjustments during recent years addressing liquidity needs and strategic repositioning following business model disruption after its primary customer Ocwen Financial significantly reduced service volumes. Series Z instruments may have been issued to existing creditors accepting equity conversions in lieu of cash repayments, strategic investors providing growth capital under negotiated terms, or management teams receiving performance-based incentive compensation. Investors evaluating ASPSZ securities must carefully review offering documents and SEC filings detailing specific terms including exercise prices, conversion ratios, redemption provisions, and seniority within the capital structure determining recovery prospects under various corporate scenarios. Series Z pricing reflects complex factors including Altisource's operational performance, turnaround execution progress, capital structure priorities, and market conditions affecting investor appetite for non-traditional securities in companies undergoing strategic transitions.