MSP Recovery, Inc. Files 8-K on Equity Sales
Ticker: MSPRZ · Form: 8-K · Filed: Oct 25, 2024 · CIK: 1802450
| Field | Detail |
|---|---|
| Company | Msp Recovery, INC. (MSPRZ) |
| Form Type | 8-K |
| Filed Date | Oct 25, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $287.50, $0.0025 |
| Sentiment | neutral |
Sentiment: neutral
Topics: equity-sale, financial-reporting, 8-K
TL;DR
MSP Recovery (MSP) filed an 8-K for equity sales & financials. Watch for updates.
AI Summary
On October 23, 2024, MSP Recovery, Inc. filed an 8-K report detailing unregistered sales of equity securities. The filing also includes financial statements and exhibits. The company, formerly known as Lionheart Acquisition Corp. II and Lionheart Acquisition Corp., is headquartered in Miami, Florida.
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 financial health and share structure.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of equity sales and financial statements, not indicating immediate operational or financial distress.
Key Players & Entities
- MSP Recovery, Inc. (company) — Registrant
- Lionheart Acquisition Corp. II (company) — Former company name
- Lionheart Acquisition Corp. (company) — Former company name
- Miami, Florida (location) — Company headquarters
FAQ
What specific type of equity securities were sold?
The filing indicates 'Unregistered Sales of Equity Securities' but does not specify the exact type within this 8-K excerpt.
When was the earliest event reported in this 8-K?
The earliest event reported is October 23, 2024.
What was MSP Recovery, Inc. previously named?
MSP Recovery, Inc. was formerly known as Lionheart Acquisition Corp. II and Lionheart Acquisition Corp.
Where is MSP Recovery, Inc. located?
MSP Recovery, Inc. is located in Miami, Florida.
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: 791 words · 3 min read · ~3 pages · Grade level 11.6 · Accepted 2024-10-25 16:05:08
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-20241023.htm (8-K) — 64KB
- lifw-ex4_1.htm (EX-4.1) — 194KB
- lifw-ex4_2.htm (EX-4.2) — 194KB
- 0000950170-24-117405.txt ( ) — 680KB
- lifw-20241023.xsd (EX-101.SCH) — 59KB
- lifw-20241023_htm.xml (XML) — 8KB
02 Unregistered Sales of Equity Securities
Item 3.02 Unregistered Sales of Equity Securities. Pursuant to the first Amendment to the Master Transaction Agreement, dated April 11, 2023 (the "First Amendment"), for each calendar month beginning with January 31, 2024 and ending when the VRM Full Return (as defined in the Master Transaction Agreement dated March 9, 2022 (the "MTA")) is paid in full, MSP Recovery, Inc. (the "Company") is required to either: (i) pay in cash or (ii) issue a warrant to purchase a number of shares of Class A Common Stock of the Company, or some combination thereof, to Virage Recovery Master LP ("VRM") such that the value is equal to the quotient of 1% of the calendar month-end balance of the Unpaid Base Amount and the VWAP (each, as defined in the MTA), at an exercise price of $0.0001 per share (the "Required Monthly Issuance"). Pursuant to the Required Monthly Issuance, on October 23, 2024 the Company issued to VRM: (i) a warrant with an effective Original Issue Date of September 1, 2024 to purchase 43,380,152 shares of the Company's Class A Common Stock, par value $0.0001 per share at a purchase price of $0.0001 per share, and (ii) a warrant with an effective Original Issue Date of October 1, 2024 to purchase 66,322,033 shares of the Company's Class A Common Stock, par value $0.0001 per share at a purchase price of $0.0001 per share (collectively, the "Warrants"). The Warrants are exercisable for two years from the Original Issue Date, as defined therein. The Warrants 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 Warrants, 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 Warrants, which
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 4.1 VRM Monthly Warrant dated September 1, 2024 4.2 VRM Monthly Warrant dated October 1, 2024 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: October 25, 2024 By: /s/ Alexandra Plasencia Name: Alexandra Plasencia Title: General Counsel