MSP Recovery, Inc. Files 8-K with Material Agreement

TL;DR

MSP Recovery filed an 8-K on Jan 24, 2025, reporting a material definitive agreement.

AI Summary

On January 24, 2025, MSP Recovery, Inc. filed an 8-K report detailing a material definitive agreement. The filing also includes financial statements and exhibits. MSP Recovery, Inc., formerly Lionheart Acquisition Corp. II and Lionheart Acquisition Corp., is headquartered in Miami, Florida.

Why It Matters

This 8-K filing indicates a significant new agreement for MSP Recovery, Inc., which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new risks or opportunities that are not yet fully understood.

Key Players & Entities

• MSP Recovery, Inc. (company) — Registrant
• January 24, 2025 (date) — Date of earliest event reported
• Lionheart Acquisition Corp. II (company) — Former company name
• Lionheart Acquisition Corp. (company) — Former company name
• Miami, Florida (location) — Business address

FAQ

Key Financial Figures

• $0.0001 — hich registered Class A Common stock, $0.0001 par value per share MSPR Nasdaq Cap
• $7,187.50 — A common stock at an exercise price of $7,187.50 per share MSPRW Nasdaq Capital Mark
• $0.0625 — A common stock at an exercise price of $0.0625 per share MSPRZ Nasdaq Capital Mark
• $3.75 — ock was below the Floor Price (which is $3.75), as defined in the Exchangeable Promis

Filing Documents

• mspr-20250124.htm (8-K) — 70KB
• mspr-ex10_1.htm (EX-10.1) — 13KB
• img250050044_0.jpg (GRAPHIC) — 730KB
• 0000950170-25-011070.txt ( ) — 1261KB
• mspr-20250124.xsd (EX-101.SCH) — 60KB
• mspr-20250124_htm.xml (XML) — 8KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. At the close of Primary Market trading on October 18, 2024, the daily VWAP for MSP Recovery, Inc.'s (the "Company") Class A Common Stock was below the Floor Price (which is $3.75), as defined in the Exchangeable Promissory Notes ("Notes") issued to YA II PN, Ltd. ("Yorkville") pursuant to the Standby Equity Purchase Agreement dated November 14, 2023, as amended (the "SEPA"), by and between Yorkville and the Company, for ten consecutive Trading Days, resulting in a Floor Price Trigger pursuant to the Notes. Upon the occurrence of a Trigger Event, the Company shall make monthly payments ("Monthly Payments") beginning on the 7th Trading Day after the date of the Trigger Event and continuing on the same day of each successive month. On January 24, 2025, the parties agreed that: (i) the first Monthly Payment, as set forth in Section (1)(c) of the Notes, would be due from the Company no sooner than April 30, 2025, and (ii) for the eight consecutive weeks beginning on February 3, 2025, the Company shall submit Advance Notices to issue and sell to Yorkville at least 100,000 shares per week, up to 898,939 shares which remain registered for resale on the effective S-1, and the Company shall use the proceeds from any such Advances in accordance with the provisions of the SEPA, as amended. Capitalized but undefined terms have the same meaning as set forth in the Yorkville SEPA and the Notes.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 10.1 Letter Agreement dated January 24, 2025 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: January 30, 2025 By: /s/ Alexandra Plasencia Name: Alexandra Plasencia Title: General Counsel

View Full Filing

View this 8-K filing on SEC EDGAR