MSP Recovery restructuring term sheet terminated by Hazel and Virage; floor price reduced to $1.00

MSP Recovery, Inc.

Hazel terminated Apr 10 term sheet on May 30 citing missed definitive-agreement deadline; funded $0.8M advance on June 2.
Virage terminated on June 4, citing Hazel's termination; both parties remain open to negotiating alternative funding.
Company and Yorkville reduced SEPA Floor Price from $3.75 to $1.00 per share effective June 5, 2025.
Restructuring envisioned cost reductions, debt-to-equity conversion, and working capital; now uncertain.

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