Ruiz Group Amends MSP Recovery Stake
Ticker: MSPRZ · Form: SC 13D/A · Filed: Dec 17, 2024 · CIK: 1802450
Sentiment: neutral
Topics: ownership-change, sec-filing, schedule-13d
Related Tickers: MSP
TL;DR
Ruiz group filed 13D/A for MSP Recovery, Inc. - ownership changes incoming.
AI Summary
On December 17, 2024, John H. Ruiz and associated entities filed an amendment to their Schedule 13D for MSP Recovery, Inc. The filing indicates a change in beneficial ownership, with Ruiz and his group members, including Frank C. Quesada and Jocral Family LLLP, collectively holding a significant stake in the company. This amendment reflects ongoing adjustments to their holdings and reporting obligations.
Why It Matters
This filing signals potential shifts in control or influence over MSP Recovery, Inc. by its key stakeholders, which could impact the company's strategic direction and stock performance.
Risk Assessment
Risk Level: medium — Schedule 13D filings often indicate significant ownership changes or activist intentions, which can introduce volatility and uncertainty for investors.
Key Players & Entities
- John H. Ruiz (person) — Filer and beneficial owner
- Frank C. Quesada (person) — Group member and beneficial owner
- MSP Recovery, Inc. (company) — Subject company
- Jocral Family LLLP (company) — Group member and beneficial owner
- Quesada Group Holdings, LLC (company) — Group member and beneficial owner
- Ruiz Group Holdings Ltd LLC (company) — Group member and beneficial owner
- John H. Ruiz Revocable Living Trust (company) — Group member and beneficial owner
- Mayra C. Ruiz (person) — Group member and beneficial owner
- Series MRCS, A Designated Series of MDA Series, LLC (company) — Group member and beneficial owner
FAQ
What specific changes in beneficial ownership are reported in this amendment?
The filing is an amendment to a Schedule 13D, indicating a change in beneficial ownership, but the specific details of the change (e.g., exact percentage or number of shares) are not fully detailed in the provided header information.
Who are the primary filers and group members associated with this Schedule 13D filing?
The primary filers and group members include John H. Ruiz, Frank C. Quesada, Jocral Family LLLP, John H. Ruiz Revocable Living Trust, Mayra C. Ruiz, Quesada Group Holdings, LLC, Ruiz Group Holdings Ltd LLC, and Series MRCS, A Designated Series of MDA Series, LLC.
What is the subject company of this filing?
The subject company is MSP Recovery, Inc.
What was the former name of MSP Recovery, Inc.?
MSP Recovery, Inc. was formerly known as Lionheart Acquisition Corp. II and prior to that, Lionheart Acquisition Corp.
When was the name change from Lionheart Acquisition Corp. II to MSP Recovery, Inc. effective?
The date of the name change from Lionheart Acquisition Corp. II was July 24, 2020.
Filing Stats: 4,741 words · 19 min read · ~16 pages · Grade level 13.2 · Accepted 2024-12-17 16:05:04
Key Financial Figures
- $0.0001 — suer) Class A common stock, par value $0.0001 per share (Title of Class of Securiti
- $7,187.50 — chase shares of Class A Common Stock at $7,187.50 per share, which become exercisable on
Filing Documents
- jhr_et_al_13d_amendment_.htm (SC 13D/A) — 302KB
- 0000950170-24-137175.txt ( ) — 304KB
Security and Issuer
Item 1. Security and Issuer.
of the Existing Schedule 13D is hereby supplemented as follows
Item 1 of the Existing Schedule 13D is hereby supplemented as follows: This Amendment No. 1 to the statement on Schedule 13D (“Amendment No. 1”) amends the statement on Schedule 13D originally filed on May 23, 2022 (the “Existing Schedule 13D”). Capitalized terms used and not defined in this Amendment No. 1 have the meanings ascribed in the Existing Schedule 13D.
Identity and Background
Item 2. Identity and Background. (a) – (c), (f) This Amendment No. 1 is being filed on behalf of: (i) John H. Ruiz, a U.S. citizen (“Mr. Ruiz”); (ii) Ruiz Group Holdings LLC, a Florida limited liability company (“Ruiz Group”); (iii) Jocral Family LLLP, a Florida limited liability limited partnership (“Jocral Family LLLP”); (iv) John H. Ruiz Revocable Living Trust (the “Trust”); (v) Mayra Ruiz, a U.S. citizen (“Ms. Ruiz”); (vi) Series MRCS, a series of MDA, Series LLC, a Delaware series limited liability company (“Series MRCS”); (vii) Frank C. Quesada, a U.S. citizen (“Mr. Quesada”); and (viii) Quesada Group Holdings LLC, a Florida limited liability company (“Quesada Group”, and together with Mr. Ruiz, Jocral Family LLLP, the Trust, Series MRCS, and Mr. Quesada, collectively, the “Reporting Persons” and each individually a “Reporting Person”). The Trust is the general partner of Jocral Family LLLP. Mr. Ruiz and Ms. Ruiz are co-trustees of the Trust. The address of each of the Reporting Persons’ (except Series MRCS) principal business is c/o MSP Recovery, Inc., 3150 SW 38th Avenue, Suite 1100, Miami, Florida, 33146. The address of Series MRCS is c/o MSP Recovery, Inc., 3150 SW 38th Avenue, Suite 1100, Miami, Florida, 33146. Mr. Ruiz is principally the Chief Executive Officer and Chairman of the board of directors of the Issuer (the “Board”). Mr. Quesada is principally the Chief Legal Officer and a director of the Issuer. The principal business of each of the other Reporting Persons is to invest in and manage assets on behalf of the members or beneficiaries, as applicable, including by investing in the Issuer’s securities. (d) To the best of the Reporting Persons’ knowledge, during the last five years, none of the Reporting Persons has been convicted in a criminal proceeding (exclud
Purpose of the Transaction
Item 4. Purpose of the Transaction.
of the Existing Schedule 13D is hereby supplemented as follows
Item 4 of the Existing Schedule 13D is hereby supplemented as follows: Pursuant to a marital settlement agreement, Mr. Ruiz transferred on December 13, 2024, ownership of 1,028,123 shares of Class A Common Stock to his ex-wife, Mayra Ruiz, pursuant to (i) the transfer of all of his interest in Ruiz Group Holdings Limited, LLC, a Florida limited liability company (“Ruiz Gr