MSP Recovery Files 8-K on Material Agreement
Ticker: MSPRZ · Form: 8-K · Filed: Apr 12, 2024 · CIK: 1802450
| Field | Detail |
|---|---|
| Company | Msp Recovery, INC. (MSPRZ) |
| Form Type | 8-K |
| Filed Date | Apr 12, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001, $287.50, $0.0025, $1.28, $1.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, corporate-action
Related Tickers: MSPR
TL;DR
MSP Recovery (MSPR) filed an 8-K on 4/8 for a material agreement. Watch for details.
AI Summary
On April 8, 2024, MSP Recovery, Inc. filed an 8-K report detailing a material definitive agreement. The company, formerly known as Lionheart Acquisition Corp. II, is involved in computer processing and data preparation services. The filing also includes financial statements and exhibits.
Why It Matters
This filing indicates a significant contractual development for MSP Recovery, Inc., which could impact its business operations and financial standing.
Risk Assessment
Risk Level: medium — Material definitive agreements can introduce new risks or opportunities that are not yet fully understood by the market.
Key Players & Entities
- MSP Recovery, Inc. (company) — Registrant
- Lionheart Acquisition Corp. II (company) — Former company name
- April 08, 2024 (date) — Date of earliest event reported
- 2701 LE JEUNE ROAD (address) — Business and mailing address
- CORAL GABLES (location) — City of business address
FAQ
What is the nature of the material definitive agreement filed by MSP Recovery, Inc.?
The 8-K filing indicates the entry into a material definitive agreement, but the specific details of the agreement are not provided in the provided text.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on April 08, 2024.
What was MSP Recovery, Inc. formerly known as?
MSP Recovery, Inc. was formerly known as Lionheart Acquisition Corp. II and Lionheart Acquisition Corp.
What is the business address of MSP Recovery, Inc.?
The business address of MSP Recovery, Inc. is 2701 LE JEUNE ROAD, FLOOR 10, CORAL GABLES, FL 33134.
What is the SIC code for MSP Recovery, Inc.?
The Standard Industrial Classification (SIC) code for MSP Recovery, Inc. is 7374, which corresponds to SERVICES-COMPUTER PROCESSING & DATA PREPARATION.
Filing Stats: 558 words · 2 min read · ~2 pages · Grade level 11.2 · Accepted 2024-04-12 17:27:33
Key Financial Figures
- $0.0001 — tered Class A common stock, par value $0.0001 per share LIFW The Nasdaq Global Ma
- $287.50 — A common stock at an exercise price of $287.50 per share LIFWW The Nasdaq Global M
- $0.0025 — A common stock at an exercise price of $0.0025 per share LIFWZ The Nasdaq Global M
- $1.28 — r 14, 2023 (the "Yorkville SEPA"), from $1.28 to $1.00; (ii) waive the first monthly
- $1.00 — 3 (the "Yorkville SEPA"), from $1.28 to $1.00; (ii) waive the first monthly payment d
- $5.0 million — eed that the third Convertible Note for $5.0 million would be issued on April 8, 2024, with
Filing Documents
- lifw-20240408.htm (8-K) — 41KB
- lifw-ex10_1.htm (EX-10.1) — 16KB
- img129770838_0.jpg (GRAPHIC) — 30KB
- 0000950170-24-044153.txt ( ) — 258KB
- lifw-20240408.xsd (EX-101.SCH) — 50KB
- lifw-20240408_htm.xml (XML) — 8KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On April 8, 2024, the Company and YA II PN, Ltd. ("Yorkville") reached an agreement to: (i) reduce the Floor Price under the Yorkville Standby Equity Purchase Agreement by and among the Company and Yorkville, dated November 14, 2023 (the "Yorkville SEPA"), from $1.28 to $1.00; (ii) waive the first monthly payment due to the Floor Price Trigger, thereby curing the Floor Price Trigger; and (iii) extend the maturity date of the Convertible Notes to September 30, 2025. In addition, the parties agreed that the third Convertible Note for $5.0 million would be issued on April 8, 2024, with terms substantially the same as the previous Convertible Notes. Capitalized but undefined terms have the same meaning as set forth in the Yorkville SEPA.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits 10.1 Yorkville Side Letter Agreement to Yorkville SEPA dated April 8, 2024.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MSP Recovery, Inc. Date: April 12, 2024 By: /s/ Alexandra Plasencia Alexandra Plasencia General Counsel