Sec Form 13D Filing - Deer Park Road Management Company LP filing for ALTISOURCE PORTFOLIO SOLUTIONS S.A. (ASPS) - 2020-05-11

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

 

SCHEDULE 13D

 

Under the Securities Exchange Act of 1934

(Amendment No. 6)*

 

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).

 

 

 

 

 

 

 

 

 

 

 

Item 1 of the Schedule 13D is hereby amended and restated as follows:

This Amendment No. 6 to Schedule 13D (“Amendment No. 6”) 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.6 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, and Amendment No. 5 filed with the SEC on March 17, 2020 (collectively, the “Schedule 13D”).

Except as specifically provided herein, this Amendment No. 6 does not modify any of the information previously reported in the Schedule 13D. Capitalized terms used but not defined in this Amendment No. 6 shall have the meanings given them in the Schedule 13D.

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 $1,467,310.71, excluding commissions, was paid to acquire the Shares reported in Item 5(c) of this Amendment No. 6.

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 3,571,023 Shares (approximately 22.9% of the total number of Shares outstanding).

 

As of the date hereof, Mr. Burg may be deemed to be the beneficial owner of 3,574,165 Shares (approximately 22.9% of the total number of Shares outstanding). This amount includes (i) 3,571,023 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) 3,142 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 15,570,432 Shares outstanding as of April 24, 2020, as disclosed in the Issuer’s Form 10-Q, as filed with the Securities and Exchange Commission on April 30, 2020.

 

 (c) A description of the transactions in the Common Stock effected during the past sixty days, all of which were effected in the open market in routine brokerage transactions, is included in Exhibit D.

Item 7 is hereby amended and supplemented by adding the following:

 

 

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.

 

May 11, 2020

SCHEDULE OF TRANSACTIONS