secwatch.observer — SEC 8-K summary
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Issuer:     MSP Recovery, Inc. (MSPR)
CIK:        0001802450
Form:       8-K
Filed at:   2025-08-08T23:59:59+00:00
Accession:  0001802450-25-000008
Event type: debt
Sentiment:  negative
Materiality: 0.55
Item codes: 2.03, 3.02, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MSP Recovery issues $750K convertible note to Yorkville; annual meeting reelects directors
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1802450/000180245025000008/0001802450-25-000008-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1802450/000180245025000008/mspr-20250808.htm
  HTML page:      https://secwatch.observer/filing/0001802450-25-000008

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