Cano Health Amends 13D Filing for MSP Recovery Stake

TL;DR

Cano Health just updated its stake in MSP Recovery - big changes brewing.

AI Summary

On March 26, 2024, Cano Health, Inc. filed an amendment (Amendment No. 11) to its Schedule 13D regarding MSP Recovery, Inc. The filing indicates a change in beneficial ownership, with Cano Health, Inc. now holding a significant stake in MSP Recovery, Inc. This amendment reflects updated information on the holdings and potential influence of Cano Health over MSP Recovery.

Why It Matters

This filing update from Cano Health, Inc. signals a potential shift in control or influence over MSP Recovery, Inc., which could impact the strategic direction and financial performance of both companies.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership filings can indicate strategic shifts, potential mergers, or activist investor involvement, all of which carry inherent risks.

Key Players & Entities

• Cano Health, Inc. (company) — Filing party, holder of MSP Recovery, Inc. stock
• MSP Recovery, Inc. (company) — Subject company of the filing
• Lionheart Acquisition Corp. II (company) — Former name of MSP Recovery, Inc.
• Jaws Acquisition Corp. (company) — Former name of Cano Health, Inc.

FAQ

Key Financial Figures

• $0.0001 — suer) Class A Common Stock, par value $0.0001 per share (Title of Class of Securiti
• $0.7686 — Name of Entity 3/19/2024 28,057 $0.7686 Cano Health, LLC 3/20/2024 46,246
• $0.7550 — Cano Health, LLC 3/20/2024 46,246 $0.7550 Cano Health, LLC 3/21/2024 43,711
• $0.7521 — Cano Health, LLC 3/21/2024 43,711 $0.7521 Cano Health, LLC 3/22/2024 52,502
• $0.7453 — Cano Health, LLC 3/22/2024 52,502 $0.7453 Cano Health, LLC 3/25/2024 23,600
• $0.7417 — Cano Health, LLC 3/25/2024 23,600 $0.7417 Cano Health, LLC 3/26/2024 20,000
• $0.7255 — Cano Health, LLC 3/26/2024 20,000 $0.7255 Cano Health, LLC The above transact

Filing Documents

• d818828dsc13da.htm (SC 13D/A) — 33KB
• 0001193125-24-077860.txt ( ) — 35KB

From the Filing

SC 13D/A 1 d818828dsc13da.htm SC 13D/A SC 13D/A SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 11)* MSP Recovery, Inc. (Name of Issuer) Class A Common Stock, par value $0.0001 per share (Title of Class of Securities) 553745100 (CUSIP Number) David J. Armstrong, Esq. General Counsel Cano Health, Inc. 9725 NW 117th Avenue Miami, Florida 33178 Tel: (855) 226-6633 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) March 22, 2024 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box: Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent. * The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 ( Act ) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No.: 553745100 1 NAMES OF REPORTING PERSONS Cano Health, Inc. 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)(b) 3 SEC USE ONLY 4 SOURCE OF FUNDS OO 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7 SOLE VOTING POWER 2,094,244 8 SHARED VOTING POWER 0 9 SOLE DISPOSITIVE POWER 2,094,244 10 SHARED DISPOSITIVE POWER 0 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,094,244 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.1%(1) 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) CO (1) The 2,094,244 shares of Class A common stock of MSP Recovery, Inc. (the Issuer) reported herein represents 1.5% of the Issuers total issued and outstanding voting shares. (See Item 5 of the Schedule 13D.) 2 This Amendment No. 11 ( Amendment No. 11 ) to Schedule 13D relates to the Class A Common Stock, par value $0.0001 per share (the Class A Shares ), of MSP Recovery, Inc., a Delaware corporation (the Issuer ), and amends and supplements the initial statement on Schedule 13D filed by Cano Health, Inc., a Delaware corporation (the Reporting Person ), with the Securities and Exchange Commission ( SEC ) on July 17, 2023, as amended by Amendment No. 1 to the Schedule 13D filed with the SEC on January 12, 2024, as amended by Amendment No. 2 to the Schedule 13D filed with the SEC on January 24, 2024, as amended by Amendment No. 3 to the Schedule 13D filed with the SEC on January 31, 2024, as amended by Amendment No. 4 to the Schedule 13D filed with the SEC on February 6, 2024, as amended by Amendment No. 5 to the Schedule 13D filed with the SEC on February 12, 2024, as amended by Amendment No. 6 to the Schedule 13D filed with the SEC on February 16, 2024, as amended by Amendment No. 7 to the Schedule 13D filed with the SEC on February 26, 2024, as amended by Amendment No. 8 to the Schedule 13D filed with the SEC on March 5, 2024, as amended by Amendment No. 9 to the Schedule 13D filed with the SEC on March 11, 2024, as amended by Amendment No. 10 to the Schedule 13D filed with the SEC on March 18, 2024 (as so amended, the Schedule 13D ). Capitalized terms used but not defined in this Amendment No. 11 shall have the same meanings ascribed to them in the Schedule 13D. Item5. 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 14,803,125 Class A Shares outstanding as of February 2, 2024, based on information set forth in the Form S-1/A filed by the Issuer on February 9, 2024 (the Form S-1/A ). As of March 26, 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 dispos

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