MSP Recovery draws $9M at 40% OID; Hazel waives 2024 going-concern default trigger

MSP Recovery, Inc.

Drew $7M of $14M working capital (40% OID) and $2M for claims acquisition (40% OID) under amended credit line.
Hazel waived acceleration clause that would trigger on negative going-concern opinion for FY2024.
Amendment formalizes previously disclosed letter agreement; adds new credit party and claim distribution structure.
Third-party sale of certain claims requires Hazel floor price; proceeds split 50/50 between ops and loan repayment.
Hazel agreed to release mortgage and guaranty upon full repayment of Operational Collection Floor by Dec 31, 2024.

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