MSP Recovery signs restructuring term sheet converting $1.2B debt and securing up to $25M working capital

MSP Recovery, Inc.

Virage Recovery waives ~$1.2B claim in exchange for 43% equity stake in the Company.
MSP principals convert ~$144M debt into Class A common shares.
Hazel provides up to $9.75M bridge loan and up to $25M working capital for new servicer.
Yorkville extends maturity of convertible notes to November 30, 2026 and waives monthly payments until then.
New Servicer to manage recovery claims, funded by Hazel affiliate with up to $25M line of credit.

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