MSP Recovery, Inc. Files 8-K on Equity Sales

TL;DR

MSP Recovery filed an 8-K for unregistered equity sales and financial docs. Formerly Lionheart Acquisition.

AI Summary

On May 23, 2024, MSP Recovery, Inc. filed an 8-K report detailing unregistered sales of equity securities. The filing also includes financial statements and exhibits, with the company's fiscal year ending on December 31st. MSP Recovery, Inc. was formerly known as Lionheart Acquisition Corp. II and Lionheart Acquisition Corp.

Why It Matters

This filing provides insight into recent equity transactions and financial reporting for MSP Recovery, Inc., which could impact investors' understanding of the company's capital structure and financial health.

Risk Assessment

Risk Level: low — This filing is primarily a procedural disclosure of unregistered equity sales and financial statements, with no immediate indication of significant financial distress or major operational changes.

Key Players & Entities

• MSP Recovery, Inc. (company) — Registrant
• May 23, 2024 (date) — Date of earliest event reported
• Lionheart Acquisition Corp. II (company) — Former company name
• Lionheart Acquisition Corp. (company) — Former company name

FAQ

Key Financial Figures

• $0.0001 — hich registered Class A Common stock, $0.0001 par value per share LIFW The Nasdaq
• $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

Filing Documents

• lifw-20240523.htm (8-K) — 63KB
• lifw-ex10_1.htm (EX-10.1) — 186KB
• lifw-ex10_2.htm (EX-10.2) — 176KB
• 0000950170-24-064540.txt ( ) — 652KB
• lifw-20240523.xsd (EX-101.SCH) — 59KB
• lifw-20240523_htm.xml (XML) — 8KB

02 Unregistered Sales of Equity Securities

Item 3.02 Unregistered Sales of Equity Securities. In partial satisfaction of amounts owed by the Company pursuant to that certain Services Agreement dated May 20, 2022 between Virage Capital Management LP ("Virage") and the Company (the "Services Agreement"), on May 23, 2024 the Company issued the following unregistered equity securities: (i) 500,000 shares of the Company's Class A Common Stock, par value $0.0001 per share to Virage (the "Shares"); and (ii) a Warrant (the "Warrant") to purchase 2,500,000 shares of the Company's Class A Common Stock, par value $0.0001 per share at a purchase price of $0.0001 per share to Virage Recovery Participation LP. The Warrant is exercisable for two years from the date of issuance. The Shares and the Warrant have not been registered under the Securities Act of 1933 (the "Securities Act") or under any state securities law in reliance upon an exemption from registration pursuant to Section 4(a)(2) of the Securities Act. This Item 3.02 contains only a brief description of the material terms of the Warrant, and does not purport to be a complete description of the rights and obligations of the parties thereunder, and such descriptions are qualified in their entirety by reference to the full text of the Warrant, which is attached hereto as Exhibit 10.2 and incorporated by reference into this Item 3.02.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 10.1 Services Agreement dated May 20, 2022 10.2 May 23, 2024 Warrant Agreement 104 Cover Page Interactive File (the cover page tags are embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MSP R ECOVERY , I NC . Dated: May 24, 2024 By: /s/ Alexandra Plasencia Name: Alexandra Plasencia Title: General Counsel

View Full Filing

View this 8-K filing on SEC EDGAR