MSP Recovery, Inc. Files 8-K for Material Agreement
Ticker: MSPRZ · Form: 8-K · Filed: Sep 2, 2025 · CIK: 1802450
| Field | Detail |
|---|---|
| Company | Msp Recovery, INC. (MSPRZ) |
| Form Type | 8-K |
| Filed Date | Sep 2, 2025 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.0001, $7,187.50, $0.0625, $55.0 m, $10.0 m |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, corporate-filing
Related Tickers: MSPR
TL;DR
MSP Recovery (MSPR) filed an 8-K on 8/29 for a material agreement.
AI Summary
On August 29, 2025, MSP Recovery, Inc. filed an 8-K report detailing a material definitive agreement. The company, formerly known as Lionheart Acquisition Corp. II and Lionheart Acquisition Corp., is based in Miami, Florida, and operates in computer processing and data preparation services.
Why It Matters
This filing indicates a significant new contract or partnership for MSP Recovery, Inc., which could impact its future business operations and financial performance.
Risk Assessment
Risk Level: low — The filing is a standard 8-K reporting a material definitive agreement, which is routine corporate disclosure.
Key Players & Entities
- MSP Recovery, Inc. (company) — Registrant
- August 29, 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) — Company headquarters
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 excerpt.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on August 29, 2025.
What were MSP Recovery, Inc.'s former company names?
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 Standard Industrial Classification (SIC) code for MSP Recovery, Inc.?
The SIC code for MSP Recovery, Inc. is 7374, which falls under SERVICES-COMPUTER PROCESSING & DATA PREPARATION.
Filing Stats: 1,301 words · 5 min read · ~4 pages · Grade level 14.3 · Accepted 2025-08-29 18:39:20
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
- $55.0 m — an aggregate principal amount of up to $55.0 million, consisting of: Tranche A Loans
- $10.0 m — consisting of: Tranche A Loans: up to $10.0 million, of which $5.0 million is expecte
- $5.0 million — A Loans: up to $10.0 million, of which $5.0 million is expected to be funded at closing, an
- $45.0 m — ed contingency. Tranche B Loan: up to $45.0 million, available after the closing date
- $0.01 — luted equity, with an exercise price of $0.01 per share and a term of ten years. The
- $1.0 million — e warrant coverage ranges from 3.0% per $1.0 million drawn under the initial portion of Tran
Filing Documents
- mspr-20250829.htm (8-K) — 74KB
- 0001802450-25-000053.txt ( ) — 239KB
- mspr-20250829.xsd (EX-101.SCH) — 60KB
- mspr-20250829_htm.xml (XML) — 8KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. On August 29, 2025, MSP Recovery, Inc. (the "Company"), together with Subrogation Holdings, LLC and certain other subsidiaries and affiliates (collectively, the "Co-Borrowers"), entered into a term sheet (the "Term Sheet") with one or more entities managed or advised by, or affiliated with an Investor with whom the Company has signed a non-disclosure agreement (the "Lender"). While the Term Sheet is generally non-binding and subject to the negotiation and execution of definitive documentation, it contains binding provisions relating to exclusivity, confidentiality, governing law, venue, and certain obligations with respect to healthcare claims assignments. The Term Sheet provides for a potential first lien secured delayed draw term loan facility (the "Facility") in an aggregate principal amount of up to $55.0 million, consisting of: Tranche A Loans: up to $10.0 million, of which $5.0 million is expected to be funded at closing, and up to $5.0 million may be advanced at the Lender's sole and absolute discretion prior to satisfaction of a specified contingency. Tranche B Loan: up to $45.0 million, available after the closing date, subject to the same contingency and the Lender's sole and absolute discretion. The Facility would mature 36 months following closing, subject to two potential one-year extensions at the discretion of Lender. The obligations of the Co-Borrowers would be secured by a first-priority security interest in substantially all of their assets, subject to inter-creditor arrangements with existing creditors. In connection with advances under the Facility, the Company would issue to the Lender warrants to purchase shares of the Company's Class A common stock equal to specified percentages of the Company's fully diluted equity, with an exercise price of $0.01 per share and a term of ten years. The warrant coverage ranges from 3.0% per $1.0 million drawn under the initial portion of Tranch
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 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: August 29, 2025 By: /s/ John H. Ruiz Name: John H. Ruiz Title: Chief Executive Officer