FREDERIKSTED, U.S. Virgin Islands, March 17, 2014 (GLOBE NEWSWIRE) -- Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE MKT:AAMC) today announced that it has entered into an agreement to sell 250,000 shares of its new Series A Convertible Preferred Stock (the "Series A Preferred Stock") to Luxor Capital Group, LP, a New York based investment manager, and other institutional investors for aggregate net proceeds of $250.0 million. The transaction is expected to close on or about March 18, 2014, subject to customary closing conditions.
Altisource Asset Management Corporation Announces Pricing Of Private Placement Of Convertible Preferred Stock
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