secwatch.observer — SEC 8-K summary
======================================

Issuer:     MSP Recovery, Inc. (MSPR)
CIK:        0001802450
Form:       8-K
Filed at:   2025-07-16T23:59:59+00:00
Accession:  0000950170-25-096243
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 2.03, 3.02, 4.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MSP Recovery issues $0.75M convertible note to Yorkville; replaces auditor Deloitte with Baker Tilly
--------------------------------------------------------------------------------

- Issued fifth convertible note for $0.75M under SEPA; net proceeds $0.71M; 5% interest, convertible at 95% of 5-day VWAP (floor $1.00), maturity March 2027.
- Deloitte & Touche dismissed as auditor; Baker Tilly appointed for FY2025 starting Q3 review; no accounting disagreements, but going-concern and impairment emphasis in prior reports.
- Previous material weaknesses in internal controls (HR/payroll, contract terminations) were remediated by December 2024, per the company.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1802450/000095017025096243/0000950170-25-096243-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1802450/000095017025096243/mspr-20250716.htm
  HTML page:      https://secwatch.observer/filing/0000950170-25-096243

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer