<SEC-DOCUMENT>0001641172-25-003064.txt : 20250407
<SEC-HEADER>0001641172-25-003064.hdr.sgml : 20250407
<ACCEPTANCE-DATETIME>20250407200004
ACCESSION NUMBER:		0001641172-25-003064
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250328
FILED AS OF DATE:		20250407
DATE AS OF CHANGE:		20250407

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Benefit Street Partners LLC
		CENTRAL INDEX KEY:			0001543160
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34354
		FILM NUMBER:		25819743

	BUSINESS ADDRESS:	
		STREET 1:		ONE MADISON AVENUE, SUITE 1600
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10010
		BUSINESS PHONE:		401-751-1700

	MAIL ADDRESS:	
		STREET 1:		ONE MADISON AVENUE, SUITE 1600
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10010

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALTISOURCE PORTFOLIO SOLUTIONS S.A.
		CENTRAL INDEX KEY:			0001462418
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MISCELLANEOUS BUSINESS SERVICES [7380]
		ORGANIZATION NAME:           	07 Trade & Services
		EIN:				000000000
		STATE OF INCORPORATION:			N4
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		33, BOULEVARD PRINCE HENRI
		STREET 2:		L-1724 LUXEMBOURG CITY
		CITY:			GRAND DUCHY OF LUXEMBOURG
		STATE:			N4
		ZIP:			50
		BUSINESS PHONE:		352 24 69 79 00

	MAIL ADDRESS:	
		STREET 1:		33, BOULEVARD PRINCE HENRI
		STREET 2:		L-1724 LUXEMBOURG CITY
		CITY:			GRAND DUCHY OF LUXEMBOURG
		STATE:			N4
		ZIP:			50

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Altisource Portfolio Solutions S.A.
		DATE OF NAME CHANGE:	20090625

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Altisource Portfolio Solutions S.a.r.l.
		DATE OF NAME CHANGE:	20090422
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>ownership.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2025-03-28</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001462418</issuerCik>
        <issuerName>ALTISOURCE PORTFOLIO SOLUTIONS S.A.</issuerName>
        <issuerTradingSymbol>ASPS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001543160</rptOwnerCik>
            <rptOwnerName>Benefit Street Partners LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1 MADISON AVENUE, SUITE 1600</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10010</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>14024399</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Warrants (Right to Buy)</value>
                <footnoteId id="F2"/>
                <footnoteId id="F3"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>1.20</value>
                <footnoteId id="F2"/>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F4"/>
            </exerciseDate>
            <expirationDate>
                <value>2029-04-02</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>8692474</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Warrants (Right to Buy)</value>
                <footnoteId id="F2"/>
                <footnoteId id="F3"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>1.20</value>
                <footnoteId id="F2"/>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F4"/>
            </exerciseDate>
            <expirationDate>
                <value>2032-04-30</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>8692474</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The securities reported herein are held by one or more private funds and accounts (the &quot;BSP Funds&quot;) managed by Benefit Street Partners L.L.C. (&quot;BSP&quot;). BSP is a registered investment adviser under Section 203 of the Investment Advisers Act of 1940, as amended. As a result, BSP may be deemed to beneficially own the securities reported herein that are held by the BSP Funds. BSP disclaims beneficial ownership of these securities, except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the &quot;Exchange Act&quot;), or for any other purpose.</footnote>
        <footnote id="F2">On April 3, 2025 (the &quot;Distribution Date&quot;), Altisource Portfolio Solutions S.A. (the &quot;Issuer&quot;) distributed (the &quot;Warrant Distribution&quot;) transferrable warrants (&quot;Warrants&quot;) to holders (collectively, &quot;Stakeholders&quot;) of the Issuer's common stock (&quot;Shares&quot;), restricted share units (&quot;RSUs&quot;), and outstanding penny warrants (&quot;Penny Warrants&quot;) as of February 14, 2025 (the &quot;Distribution Record Date&quot;). Pursuant to the Warrant Distribution, each Stakeholder received (i) one Warrant to purchase 1.625 Shares exercisable on a cash basis (the &quot;Cash Warrants&quot;) and (ii) one Warrant to purchase 1.625 Shares exercisable on a cashless basis (the &quot;Net Settle Warrants&quot;) for each Share, RSU, and Share that could be acquired upon exercise of Penny Warrants held as of the Distribution Record Date.</footnote>
        <footnote id="F3">Each Cash Warrant and Net Settle Warrant entitles the holder thereof to purchase from the Issuer 1.625 Shares, subject to certain adjustments, at an initial exercise price of $1.95 per Cash Warrant and Net Settle Warrant (initially equal to $1.20 per whole Share). BSP, on behalf of the BSP Funds, acquired the Warrants reported herein in a privately negotiated purchase transaction that was consummated prior to the Distribution Date from an entity that was a Stakeholder on the Distribution Record Date. The acquisition of Cash Warrants and Net Settle Warrants by the Reporting Person pursuant to the Warrant Distribution is exempt from Section 16 pursuant to Rule 16a-9 under the Exchange Act.</footnote>
        <footnote id="F4">The initial exercise date of the Cash Warrants and Net Settle Warrants will be the later of (i) July 2, 2025 and (ii) the first date on which the VWAP (as defined in the Warrant Agent Agreement, the form of which was filed as Exhibit 4.1 to the Issuer's Current Report on Form 8-K filed with the SEC on April 2, 2025) of the Shares equals or exceeds the Implied Per Share Exercise Price (as such term is defined in the Warrant Agent Agreement) of the Warrants, which is initially $1.20, for a period of fifteen consecutive trading days.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Enrico Gallo, Authorized Signatory, Benefit Street Partners L.L.C.</signatureName>
        <signatureDate>2025-04-07</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
