Filing Details
- Accession Number:
- 0000905148-20-000899
- Form Type:
- 13D Filing
- Publication Date:
- 2020-08-18 16:15:23
- Filed By:
- Deer Park Road Management Company, Lp
- Company:
- Altisource Portfolio Solutions S.a. (NASDAQ:ASPS)
- Filing Date:
- 2020-08-18
- SEC Url:
- 13D Filing
Ownership Summary
Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| DEER PARK ROAD MANAGEMENT COMPANY | 0 | 3,737,631 | 0 | 3,737,631 | 3,737,631 | 23.9% |
| DEER PARK ROAD MANAGEMENT GP | 0 | 3,737,631 | 0 | 3,737,631 | 3,737,631 | 23.9% |
| DEER PARK ROAD CORPORATION | 0 | 3,737,631 | 0 | 3,737,631 | 3,737,631 | 23.9% |
| MICHAEL CRAIG-SCHECKMAN | 0 | 3,737,631 | 0 | 3,737,631 | 3,737,631 | 23.9% |
| AGATECREEK | 0 | 3,737,631 | 0 | 3,737,631 | 3,737,631 | 23.9% |
| SCOTT EDWARD BURG | 8,509 | 3,737,631 | 8,509 | 3,737,631 | 3,746,140 | 24.0% |
Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 7)*
| ALTISOURCE PORTFOLIO SOLUTIONS S.A. |
| (Name of Issuer) |
| Common Stock, par value $1.00 per share |
| (Title of Class of Securities) |
| L0175J104 |
| (CUSIP Number) |
| Bradley W. Craig 1195 Bangtail Way Steamboat Springs, Colorado 80487 (970) 457-4340 |
| (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) |
| August 14, 2020 |
| (Date of Event which Requires Filing of this Statement) |
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of 240.13d-1(e),
240.13d-1(f) or 240.13d-1(g), check the following box [ ].
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See 240.13d-7(b) for other parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment
containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject
to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
| | SCHEDULE 13D | |
| | | |
| CUSIP No. L0175J104 | | Page 2 of 9 Pages |
| 1 | NAMES OF REPORTING PERSONS | | | ||
| DEER PARK ROAD MANAGEMENT COMPANY, LP | | | |||
| | | ||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) | ☐ | ||
| (b) | ☐ | ||||
| | | ||||
| 3 | SEC USE ONLY | | | ||
| | | | |||
| | | ||||
| 4 | SOURCE OF FUNDS (SEE INSTRUCTIONS) | | | ||
| AF | | | |||
| | | ||||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E) | | ☐ | ||
| | | ||||
| | | ||||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | | | ||
| Delaware | | | |||
| | | ||||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER | | | |
| 0 | | | |||
| | | ||||
| 8 | SHARED VOTING POWER | | | ||
| 3,737,631 | | | |||
| | | ||||
| 9 | SOLE DISPOSITIVE POWER | | | ||
| 0 | | | |||
| | | ||||
| 10 | SHARED DISPOSITIVE POWER | | | ||
| 3,737,631 | | | |||
| | | ||||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | | | ||
| 3,737,631 | | | |||
| | | ||||
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | | ☐ | ||
| | | ||||
| | | ||||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | | | ||
| 23.9% (1) | | | |||
| | | ||||
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | | | ||
| IA, PN | | | |||
| | | ||||
| (1) | This percentage is based on a total of 15,631,557 Shares
(as defined herein) outstanding as of July 31, 2020, as disclosed in the Issuer’s Form 10-Q, as filed with the SEC (as defined herein) on August 6, 2020. |
| | SCHEDULE 13D | |
| | | |
| CUSIP No. L0175J104 | | Page 3 of 9 Pages |
| 1 | NAMES OF REPORTING PERSONS | | | ||
| DEER PARK ROAD MANAGEMENT GP, LLC | | | |||
| | | ||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) | ☐ | ||
| (b) | ☐ | ||||
| | | ||||
| 3 | SEC USE ONLY | | | ||
| | | | |||
| | | ||||
| 4 | SOURCE OF FUNDS (SEE INSTRUCTIONS) | | | ||
| AF | | | |||
| | | ||||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E) | | ☐ | ||
| | | ||||
| | | ||||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | | | ||
| Delaware | | | |||
| | | ||||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER | | | |
| 0 | | | |||
| | | ||||
| 8 | SHARED VOTING POWER | | | ||
| 3,737,631 | | | |||
| | | ||||
| 9 | SOLE DISPOSITIVE POWER | | | ||
| 0 | | | |||
| | | ||||
| 10 | SHARED DISPOSITIVE POWER | | | ||
| 3,737,631 | | | |||
| | | ||||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | | | ||
| 3,737,631 | | | |||
| | | ||||
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | | ☐ | ||
| | | ||||
| | | ||||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | | | ||
| 23.9% (1) | | | |||
| | | ||||
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | | | ||
| OO, HC | | | |||
| | | ||||
| (1) | This percentage is based on a total of 15,631,557 Shares
outstanding as of July 31, 2020, as disclosed in the Issuer’s Form 10-Q, as filed with the SEC on August 6, 2020. |
| | SCHEDULE 13D | |
| | | |
| CUSIP No. L0175J104 | | Page 4 of 9 Pages |
| 1 | NAMES OF REPORTING PERSONS | | | ||
| DEER PARK ROAD CORPORATION | | | |||
| | | ||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) | ☐ | ||
| (b) | ☐ | ||||
| | | ||||
| 3 | SEC USE ONLY | | | ||
| | | | |||
| | | ||||
| 4 | SOURCE OF FUNDS (SEE INSTRUCTIONS) | | | ||
| AF | | | |||
| | | ||||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E) | | ☐ | ||
| | | ||||
| | | ||||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | | | ||
| Delaware | | | |||
| | | ||||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER | | | |
| 0 | | | |||
| | | ||||
| 8 | SHARED VOTING POWER | | | ||
| 3,737,631 | | | |||
| | | ||||
| 9 | SOLE DISPOSITIVE POWER | | | ||
| 0 | | | |||
| | | ||||
| 10 | SHARED DISPOSITIVE POWER | | | ||
| 3,737,631 | | | |||
| | | ||||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | | | ||
| 3,737,631 | | | |||
| | | ||||
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | | ☐ | ||
| | | ||||
| | | ||||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | | | ||
| 23.9% (1) | | | |||
| | | ||||
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | | | ||
| CO, HC | | | |||
| | | ||||
| (1) | This percentage is based on a total of 15,631,557 Shares
outstanding as of July 31, 2020, as disclosed in the Issuer’s Form 10-Q, as filed with the SEC on August 6, 2020. |
| | SCHEDULE 13D | |
| | | |
| CUSIP No. L0175J104 | | Page 5 of 9 Pages |
| 1 | NAMES OF REPORTING PERSONS | | | ||
| MICHAEL CRAIG-SCHECKMAN | | | |||
| | | ||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) | ☐ | ||
| (b) | ☐ | ||||
| | | ||||
| 3 | SEC USE ONLY | | | ||
| | | | |||
| | | ||||
| 4 | SOURCE OF FUNDS (SEE INSTRUCTIONS) | | | ||
| AF | | | |||
| | | ||||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E) | | ☐ | ||
| | | ||||
| | | ||||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | | | ||
| United States of America | | | |||
| | | ||||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER | | | |
| 0 | | | |||
| | | ||||
| 8 | SHARED VOTING POWER | | | ||
| 3,737,631 | | | |||
| | | ||||
| 9 | SOLE DISPOSITIVE POWER | | | ||
| 0 | | | |||
| | | ||||
| 10 | SHARED DISPOSITIVE POWER | | | ||
| 3,737,631 | | | |||
| | | ||||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | | | ||
| 3,737,631 | | | |||
| | | ||||
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | | ☐ | ||
| | | ||||
| | | ||||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | | | ||
| 23.9% (1) | | | |||
| | | ||||
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | | | ||
| IN, HC | | | |||
| | | ||||
| (1) | This percentage is based on a total of 15,631,557 Shares
outstanding as of July 31, 2020, as disclosed in the Issuer’s Form 10-Q, as filed with the SEC on August 6, 2020. |
| | SCHEDULE 13D | |
| | | |
| CUSIP No. L0175J104 | | Page 6 of 9 Pages |
| 1 | NAMES OF REPORTING PERSONS | | | ||
| AGATECREEK LLC | | | |||
| | | ||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) | ☐ | ||
| (b) | ☐ | ||||
| | | ||||
| 3 | SEC USE ONLY | | | ||
| | | | |||
| | | ||||
| 4 | SOURCE OF FUNDS (SEE INSTRUCTIONS) | | | ||
| AF | | | |||
| | | ||||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E) | | ☐ | ||
| | | ||||
| | | ||||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | | | ||
| Colorado | | | |||
| | | ||||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER | | | |
| 0 | | | |||
| | | ||||
| 8 | SHARED VOTING POWER | | | ||
| 3,737,631 | | | |||
| | | ||||
| 9 | SOLE DISPOSITIVE POWER | | | ||
| 0 | | | |||
| | | ||||
| 10 | SHARED DISPOSITIVE POWER | | | ||
| 3,737,631 | | | |||
| | | ||||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | | | ||
| 3,737,631 | | | |||
| | | ||||
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | | ☐ | ||
| | | ||||
| | | ||||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | | | ||
| 23.9% (1) | | | |||
| | | ||||
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | | | ||
| OO, HC | | | |||
| | | ||||
| (1) | This percentage is based on a total of 15,631,557 Shares
outstanding as of July 31, 2020, as disclosed in the Issuer’s Form 10-Q, as filed with the SEC on August 6, 2020. |
| | SCHEDULE 13D | |
| | | |
| CUSIP No. L0175J104 | | Page 7 of 9 Pages |
| 1 | NAMES OF REPORTING PERSONS | | | ||
| SCOTT EDWARD BURG | | | |||
| | | ||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) | ☐ | ||
| (b) | ☐ | ||||
| | | ||||
| 3 | SEC USE ONLY | | | ||
| | | | |||
| | | ||||
| 4 | SOURCE OF FUNDS (SEE INSTRUCTIONS) | | | ||
| AF | | | |||
| | | ||||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E) | | ☐ | ||
| | | ||||
| | | ||||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | | | ||
| United States of America | | | |||
| | | ||||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER | | | |
| 8,509 (2) | | | |||
| | | ||||
| 8 | SHARED VOTING POWER | | | ||
| 3,737,631 | | | |||
| | | ||||
| 9 | SOLE DISPOSITIVE POWER | | | ||
| 8,509 (2) | | | |||
| | | ||||
| 10 | SHARED DISPOSITIVE POWER | | | ||
| 3,737,631 | | | |||
| | | ||||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | | | ||
| 3,746,140 | | | |||
| | | ||||
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | | ☐ | ||
| | | ||||
| | | ||||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | | | ||
| 24.0% (1) | | | |||
| | | ||||
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | | | ||
| IN, HC | | | |||
| | | ||||
| (1) | This percentage is based on a total of 15,631,557 Shares outstanding as of
July 31, 2020, as disclosed in the Issuer’s Form 10-Q, as filed with the SEC on August 6, 2020. |
| (2) | These restricted Shares were awarded to the Reporting Person in connection with his service as a non-management director of the Issuer. |
| | SCHEDULE 13D | |
| | | |
| | | Page 8 of 9 Pages |
| Item 1. | Security and Issuer. |
Item 1 of the Schedule 13D is hereby amended and restated as follows:
This Amendment No. 7 to Schedule 13D (“Amendment No. 7”) is being filed by the undersigned, pursuant to §240.13d-2(a), with respect to the common stock, par value $1.00 per
share (the “Shares”), of Altisource Portfolio Solutions S.A. (the “Issuer” or the “Company”), whose principal executive offices are located at 40, avenue Monterey, L-2163 Luxembourg, Grand Duchy of Luxembourg. This Amendment No. 7 amends and
supplements the Schedule 13D filed by the Reporting Persons with the Securities and Exchange Commission (the “SEC”) on August 17, 2018, as amended by Amendment No. 1, filed with the SEC on August 24, 2018, Amendment No. 2, filed with the SEC on
August 30, 2018, Amendment No. 3, filed with the SEC on September 27, 2018, Amendment No. 4 filed with the SEC on November 4, 2019, Amendment No. 5 filed with the SEC on March 17, 2020, and Amendment No. 6, filed with the SEC on May 11, 2020
(collectively, the “Schedule 13D”).
Except as specifically provided herein, this Amendment No. 7 does not modify any of the information previously reported in the Schedule 13D. Capitalized terms used but not
defined in this Amendment No. 7 shall have the meanings given them in the Schedule 13D.
| Item 3. | Source and Amount of Funds or Other Considerations |
Item 3 of the Schedule 13D is hereby amended and supplemented by adding the following:
The funds used for the purchase of the Shares reported herein by the Reporting Persons were the working capital of the STS Master Fund, which may have included margin account
borrowings made in the ordinary course of business. In such instances, the positions held in the margin accounts are pledged as collateral security for the repayment of debit balances in the account, which may exist from time to time. Because
other securities are held in the margin accounts, it is not possible to determine the amounts, if any, of margin used to purchase the Shares reported herein. A total of approximately $1,041,386.96 excluding commissions, was paid to acquire the
Shares reported in Item 5(c) of this Amendment No. 7.
| Item 5. | Interest in the Securities of the Issuer |
Items 5(a), (b) and (c) of the Schedule 13D are hereby amended and supplemented by adding the following:
(a, b) As of the date hereof, each of Deer
Park, DPRM, DPRC, Mr. Craig-Scheckman, and AgateCreek may be deemed to be the beneficial owner of 3,737,631 Shares (approximately 23.9% of the
total number of Shares outstanding).
As of the date
hereof, Mr. Burg may be deemed to be the beneficial owner of 3,746,140 Shares (approximately 24.0% of the total number of Shares
outstanding). This amount includes (i) 3,737,631 Shares he may be deemed to share voting and dispositive power with each of Deer Park, DPRM,
DPRC, Mr. Craig-Scheckman, and AgateCreek, and (ii) 8,509 restricted Shares that were awarded to Mr. Burg in connection with his service as a non-management director of the Issuer.
The beneficial ownership percentage is based on a total of 15,631,557 Shares outstanding as of
July 31, 2020, as disclosed in the Issuer’s Form 10-Q, as filed with the SEC on August 6, 2020.
(c) On August 14, 2020, STS Master Fund purchased 117,875 Shares in the open-market, through a broker, at a weighted
average price of $8.8347 per Share. The actual prices range between $8.35 to $8.90. The Reporting Persons further undertake to provide upon request by the Commission staff, the Issuer, or a security holder of the Issuer, full information
regarding the number of Shares purchased at each separate price reported herein.
| | SCHEDULE 13D | |
| | | |
| | | Page 9 of 9 Pages |
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
| DEER PARK ROAD MANAGEMENT COMPANY, LP | |||
| | By: | /s/ Bradley W. Craig | |
| Name: | Bradley W. Craig | ||
| Title: | Chief Operating Officer | ||
| DEER PARK ROAD MANAGEMENT GP, LLC | |||
| By: | Deer Park Road Corporation, its managing member | ||
| | By: | /s/ Bradley W. Craig | |
| Name: | Bradley W. Craig | ||
| Title: | Attorney-in-fact for Michael Craig-Scheckman, Chief Executive Officer of Deer Park Road Corporation | ||
| DEER PARK ROAD CORPORATION | |||
| | By: | /s/ Bradley W. Craig | |
| Name: | Bradley W. Craig | ||
| Title: | Attorney-in-fact for Michael Craig-Scheckman, Chief Executive Officer of Deer Park Road Corporation | ||
| MICHAEL CRAIG-SCHECKMAN | |||
| | By: | /s/ Bradley W. Craig | |
| Name: | Bradley W. Craig | ||
| Title: | Attorney-in-fact for Michael Craig-Scheckman | ||
| AGATECREEK LLC | |||
| | By: | /s/ Bradley W. Craig | |
| Name: | Bradley W. Craig | ||
| Title: | Attorney-in-fact for Scott Edward Burg, Sole Member of AgateCreek LLC | ||
| SCOTT EDWARD BURG | |||
| | By: | /s/ Bradley W. Craig | |
| Name: | Bradley W. Craig | ||
| Title: | Attorney-in-fact for Scott Edward Burg | ||
August 18, 2020