secwatch.observer — SEC 8-K summary
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Issuer:     MSP Recovery, Inc. (MSPR)
CIK:        0001802450
Form:       8-K
Filed at:   2025-10-10T23:59:59+00:00
Accession:  0001193125-25-237069
Event type: debt
Sentiment:  negative
Materiality: 0.55
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MSP Recovery secures $3M Yorkville convertible note, floor price cut to $1; GC resigns
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- Yorkville agrees to advance up to $3M in convertible notes with 10% OID; net principal increase per advance capped at $1M.
- Floor Price on existing convertible notes reduced from $1.20 to $1.00 per share, increasing potential dilution.
- General Counsel Alexandra Plasencia resigns effective Oct 17, 2025; no disagreement with company.
- Additional funding follows prior $3M supplemental in June 2025; total Yorkville SEPA facility remains up to $250M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1802450/000119312525237069/0001193125-25-237069-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1802450/000119312525237069/mspr-20251007.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-237069

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