{"schema_version":"secwatch.filing_event.v1","accession":"0001802450-25-000008","form_type":"8-K","ticker":"MSPR","cik":"0001802450","company_name":"MSP Recovery, Inc.","filed_at":"2025-08-08T23:59:59+00:00","discovered_at":"2026-05-14T18:02:45.038862+00:00","generated_at":"2026-05-17T16:44:49.554610+00:00","sec_items":["2.03","3.02","5.07","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"MSP Recovery issues $750K convertible note to Yorkville; annual meeting reelects directors","bullets":["Issued sixth convertible note to Yorkville for $0.75M, net proceeds ~$0.71M after OID; disbursed in two $0.36M advances on Aug 8 and Aug 15.","Note matures Mar 1, 2027, bears 5% interest (18% upon default); conversion price at lower of fixed price or 95% of 5-day VWAP, floor $0.50.","Stockholders reelected John H. Ruiz, Frank C. Quesada, Ophir Sternberg as Class III directors; ratified Deloitte as auditor (though Baker Tilly engaged for remainder of 2025).","Yorkville may convert or require share issuance under SEPA at conversion price; 9.99% ownership cap applies.","Company has now issued total $16.5M in convertible notes under SEPA since 2023."],"urls":{"canonical":"https://secwatch.observer/filing/0001802450-25-000008","json":"https://secwatch.observer/filing/0001802450-25-000008.json","markdown":"https://secwatch.observer/filing/0001802450-25-000008.md","text":"https://secwatch.observer/filing/0001802450-25-000008.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1802450/000180245025000008/0001802450-25-000008-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1802450/000180245025000008/mspr-20250808.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T16:44:49.554610+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"62e92248ef5e9cb13badafb2ea197cc082c46b0b","claim":"MSP Recovery, Inc. incurred convertible notes of $0.75 million with YA II PN, LTD.","evidence_excerpt":"On August 8, 2025, Yorkville agreed to make an additional advance pursuant to a sixth Convertible Note (the “Sixth Note”) issued by the Company to Yorkville for a total of $0.75 million, on terms substantially the same as the previous Convertible Notes, issued pursuant to the SEPA.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1802450/000180245025000008/0001802450-25-000008-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$0.75 million"},{"label":"Counterparty","value":"YA II PN, LTD"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}