Cano Health Amends MSP Recovery Stake Disclosure

TL;DR

**Cano Health just updated its MSP Recovery stock ownership, watch for market reaction.**

AI Summary

Cano Health, Inc. filed an amendment to its Schedule 13D, indicating a change in its ownership of MSP Recovery, Inc. Class A Common Stock. This amendment, filed on January 12, 2024, with an event date of January 10, 2024, updates previous disclosures regarding Cano Health's stake in MSP Recovery. Investors should note this filing as it reflects a potential shift in a significant holder's position, which could influence market perception and the stock's stability.

Why It Matters

This filing updates the public on Cano Health's ownership in MSP Recovery, which can signal changes in investor confidence or strategic intent, potentially impacting MSP Recovery's stock price.

Risk Assessment

Risk Level: medium — Changes in significant shareholder positions can introduce volatility and uncertainty for the stock.

Analyst Insight

Investors should monitor subsequent amendments to the Schedule 13D to understand the full scope of Cano Health's updated position and any potential strategic implications for MSP Recovery, Inc.

Key Players & Entities

• Cano Health, Inc. (company) — the entity filing the amendment
• MSP Recovery, Inc. (company) — the subject company whose stock is being reported
• David J. Armstrong, Esq. (person) — General Counsel for Cano Health, authorized to receive notices
• January 10, 2024 (date) — date of the event requiring the filing

FAQ

Key Financial Figures

• $0.0001 — suer) Class A Common Stock, par value $0.0001 per share (Title of Class of Securiti
• $2.1040 — Name of Entity 1/3/2024 (40,000) $2.1040 Cano Health, LLC 1/8/2024 (51,891)
• $1.9227 — Cano Health, LLC 1/8/2024 (51,891) $1.9227 Cano Health, LLC 1/9/2024 (36,016)
• $1.7345 — Cano Health, LLC 1/9/2024 (36,016) $1.7345 Cano Health, LLC 1/10/2024 (38,141
• $1.6896 — ano Health, LLC 1/10/2024 (38,141) $1.6896 Cano Health, LLC 1/11/2024 (24,914
• $1.5293 — ano Health, LLC 1/11/2024 (24,914) $1.5293 Cano Health, LLC

Filing Documents

• d60988dsc13da.htm (SC 13D/A) — 41KB
• 0001193125-24-007651.txt ( ) — 43KB

Identity and Background

Item 2. Identity and Background. Item 2 of the Schedule 13D is hereby amended by incorporating herein by reference the information set forth on the updated Annex A attached hereto.

Purpose of Transaction

Item 4. Purpose of Transaction.

of the Schedule 13D is hereby amended and restated as follows

Item 4 of the Schedule 13D is hereby amended and restated as follows: The Reporting Persons acquired the Class A Shares for investment purposes as described herein. The Reporting Person intends to review its position in the Issuer on an ongoing basis and may from time to time increase or decrease its position in the Issuer (including through the trading of derivatives) depending upon various factors, including but not limited to, the Issuers business and prospects, financial position and strategic direction, price levels of the Class A Shares, conditions in the securities markets, various laws and regulations applicable to the Reporting Person, the Issuer and companies in its industry, the Reporting Persons ownership in the Issuer, other investment and business opportunities available to the Reporting Person and general economic and industry conditions, and tax considerations. Additionally, subject to the various factors described above, the Reporting Person may in the future take any other action with respect to its position in the Issuer as it deems appropriate, including communicating with the Issuers board of directors (the Board ), members of management or other Issuer stockholders from time to time, and/or take any other available course of action, which could involve one or more of the types of transactions or have one or more of the results described in clauses (a) through (j) of the instructions to Item 4 of Schedule 13D. Notwithstanding the above, the Reporting Person currently intends to continue to sell its Class A Shares from time to time in open market transactions, block sales, in privately negotiated transactions or otherwise, provided that the Reporting Person may modify this intention at any time and from time to time. Except as described in this Schedule 13D, the Reporting Person does not have any present plans or proposals that relate to or would result in any of the actions described in Item 4 of this Schedule 13D, although, the Reporting

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer. Items 5(a)-(c) of the Schedule 13D are hereby amended and restated as follows: (a) and (b) The percentage of beneficial ownership of the Class A Shares reported in this Schedule 13D assumes 14,415,930 Class A Shares outstanding as of November 27, 2023, based on information set forth in the Form S-1/A filed by the Issuer on December 8, 2023 (the Form S-1/A ). As of January 11, 2024, the aggregate number and percentage of Class A Shares beneficially owned by the Reporting Person and, for the Reporting Person, the number of shares as to which there is sole power to vote or to direct the vote, shared power to vote or to direct the vote, sole power to dispose or to direct the disposition, or shared power to dispose or to direct the disposition are set forth on rows 7 through 11 and row 13 of the cover page of this Schedule 13D and are incorporated herein by reference. The beneficial ownership reported herein reflects the Issuers 1-for-25 reverse stock split of its Class A Shares effective as of October 13, 2023. As of January 11, 2024, Cano Health, LLC, an indirect subsidiary of the Reporting Person, directly owns the 7,809,039 Class A Shares reported herein representing approximately 54.2% of the Class A Shares outstanding. The 7,809,039 Class A Shares beneficially owned by the Reporting Person represent approximately 5.6% of the Issuers total outstanding voting shares. The Reporting Persons voting power percentage assumes an aggregate of 138,669,106 shares of Issuer voting stock outstanding, consisting of (x) 14,415,930 Class A Shares outstanding as of November 27, 2023, based on information set forth in the Form S-1/A, and (y) 124,253,176 shares of the Issuers Class V common stock, par value $0.0001 per share (the Class V Shares ) outstanding as of November 27, 2023, based on information set forth in the Form S-1/A. The Class A Shares and Class V Shares each are entitled to one vote per share on matters submitted

View Full Filing

View this SC 13D/A filing on SEC EDGAR