Altisource Announces Plans to Discontinue Its Buy-Renovate-Lease-Sell Business and Repay $50 Million of Debt
In anticipation of receiving the majority of the proceeds from the sale of the BRS Inventory over the fourth quarter of 2018 and the first quarter of 2019, the Company plans to repay
“In connection with Project Catalyst, the Company is working to streamline our operations with a focus on our larger opportunities. With the recent sale of the Rental Property Management business to
This press release contains forward-looking statements that involve a number of risks and uncertainties. These forward-looking statements include all statements that are not historical fact, including statements about management’s beliefs and expectations. These statements may be identified by words such as “anticipate,” “intend,” “expect,” “may,” “could,” “should,” “would,” “plan,” “estimate,” “seek,” “believe,” “potential” and similar expressions. Forward-looking statements are based on management’s beliefs as well as assumptions made by and information currently available to management. Because such statements are based on expectations as to the future and are not statements of historical fact, actual results may differ materially from what is contemplated by the forward-looking statements. Altisource undertakes no obligation to update any forward-looking statements whether as a result of new information, future events or otherwise. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, risks relating to the our ability to properly manage the discontinuation of the Real Estate Investor Solutions business and sell the BRS inventory for an acceptable price; various risks relating to our ability to effectively manage our regulatory and contractual obligations; the adequacy of our financial resources, including our sources of liquidity and ability to repay borrowings and comply with our Credit Agreement, including the financial and other covenants contained therein; and other risks and uncertainties detailed in the “Forward-Looking Statements,” “Risk Factors” and other sections of Altisource’s Form 10-K and other filings with the
|Michelle D. Esterman|
|Chief Financial Officer|
|T: +352 2469 7950|
Source: Altisource Portfolio Solutions S.A.