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| OCN > SEC Filings for OCN > Form 8-K on 10-Jul-2009 | All Recent SEC Filings |
10-Jul-2009
Other Events, Financial Statements and Exhibits
On July 10, 2009, Ocwen Financial Corporation (the "Company") provided notice to holders of the 3.25% Contingent Convertible Unsecured Senior Notes due 2024 (the "Securities") of their option to convert all or any of their Securities into shares of common stock of the Company as a result of the Company's previously announced planned separation of most of the business operations currently known as Ocwen Solutions through a tax-free spin-off of an existing subsidiary of the Company, Altisource Portfolio Solutions S.A. ("Altisource"), which will become a separate, publicly-traded company (the "Separation"). Altisource has filed a Registration Statement on Form 10 with the Securities and Exchange Commission in connection with the Separation.
The consummation of the Separation is subject to the approval of the board of directors of the Company and the satisfaction of certain conditions (including the effectiveness of the related registration statement with the SEC), and there is no assurance that the Separation will be consummated.
A copy of the cover letter and notice provided to holders of the Securities are attached as Exhibit 99.1 to this Form 8-K.
(a) - (c) Not applicable.
(d) Exhibits:
99.1 Ocwen Financial Corporation Notice To All Holders of 3.25% Contingent Convertible Unsecured Senior Notes due 2024
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