8-K
filed January 12, 2023, 6:59 PM ET
ticker MSPR
CIK 0001802450
other material
confidence high
sentiment negative
materiality 0.70
MSP Recovery (LifeWallet) enters $1B equity purchase agreement with Yorkville
MSP Recovery, Inc.
- Up to $1B in newly issued Class A common stock at 98% of VWAP, capped at 650M shares or 19.99% of outstanding.
- Terminated prior purchase agreement and OTC equity forward with CF Principal Investments, LLC.
- Will pay Cantor Fitzgerald $3.75M advisory fee in common stock, plus up to $3.6225M deferred fee shares.
- Investor limited to 4.99% beneficial ownership; no mandatory minimum for individual purchases.
- Yorkville (YA II PN) also receives registration rights for resale of shares acquired.
Key facts
Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
MSP Recovery, Inc. terminated Purchase Agreement with CF Principal Investments LLC (effective 2023-01-06).
- Action
- termination
- Agreement
- equity purchase
- Counterparty
- CF Principal Investments LLC
- Effective
- 2023-01-06
Exact text from the filing
on January 6, 2023, the Company agreed to (i) terminate that certain (x) Purchase Agreement, dated May 17, 2022, with CF Principal Investments LLC ("CFPI")
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
MSP Recovery, Inc. amended Underwriting Agreement with Cantor Fitzgerald & Co. valued at up to $3,622,500 (effective 2023-01-06).
- Action
- amendment
- Agreement
- underwriting
- Counterparty
- Cantor Fitzgerald & Co.
- Value
- up to $3,622,500
- Effective
- 2023-01-06
Exact text from the filing
amend the Underwriting Agreement, dated as of August 13, 2020, between the Company and Cantor Fitzgerald & Co., an affiliate of CFPI (“CF&CO”), to pay up to $3,622,500 in shares of Common Stock
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
MSP Recovery, Inc. terminated Confirmation with CF Principal Investments LLC (effective 2023-01-06).
- Action
- termination
- Counterparty
- CF Principal Investments LLC
- Effective
- 2023-01-06
Exact text from the filing
(y) confirmation (the "Confirmation"), dated May 17, 2022 for an OTC Equity Prepaid Forward Transaction by and between CFPI and the Company
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
MSP Recovery, Inc. entered into Company Common Stock Purchase Agreement with YA II PN, Ltd. valued at $1 billion (effective 2023-01-06).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- YA II PN, Ltd.
- Value
- $1 billion
- Effective
- 2023-01-06
Exact text from the filing
On January 6, 2023, MSP Recovery, Inc., a Delaware corporation d/b/a LifeWallet (Nasdaq: LIFW) (the “Company”) entered into a Company Common Stock Purchase Agreement (the “Purchase Agreement”) with YA II PN, Ltd. (“YAII”).
View on SEC.gov
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