secwatch.observer — SEC 8-K summary
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Issuer:     MSP Recovery, Inc. (MSPR)
CIK:        0001802450
Form:       8-K
Filed at:   2025-05-02T23:59:59+00:00
Accession:  0000950170-25-062285
Event type: debt
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MSP Recovery increases Nomura note to $32.7M and extends maturity to Nov 2026. Virage note also extended.
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- Nomura note principal raised to $32.7M (from $30.0M), maturity extended to November 30, 2026.
- Virage MTA maturity date also extended to November 30, 2026, subject to acceleration on Trigger Event.
- Interest on Nomura note accrues at 16.0% per annum, payable in cash or paid-in-kind.
- Company must use 100% of net cash from most capital events (50% from ATM) to prepay note.
- Company covenants to use commercially reasonable efforts to prepay note within 90 days of issuance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1802450/000095017025062285/0000950170-25-062285-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1802450/000095017025062285/mspr-20250428.htm
  HTML page:      https://secwatch.observer/filing/0000950170-25-062285

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