Articles from MSP Recovery, LLC

CORAL GABLES, Fla., March 30, 2023 (GLOBE NEWSWIRE) -- MSP Recovery, Inc. d/b/a LifeWallet (NASDAQ: LIFW) (“LifeWallet” or “LIFW” or the “Company”), announces it will cancel and reschedule its March 31, 2023, fourth quarter and full year 2022 earnings release and investors conference call and in addition will file Form 12b-25 Notification of Late Filing with Securities Exchange Commission. The company is currently negotiating amendments to certain material agreements and evaluating the accounting and related disclosure in Form 10K. Therefore, the company will not file its Annual Report on the Form 10-K for the period ended December 31, 2022, within the prescribed time period without unreasonable effort or expense because management needs additional time to finalize and analyze the disclosure in its Form 10-K. The company currently anticipates that it will file its Form 10-K within the 15-day time period prescribed in Rule 12b-25 promulgated under the Securities Exchange Act of 1934. The Company will make a further announcement in a subsequent press release to schedule the date and time of the earnings conference call.

CORAL GABLES, Fla., March 20, 2023 (GLOBE NEWSWIRE) -- MSP Recovery, Inc. d/b/a LifeWallet (NASDAQ: LIFW) (“LifeWallet”, or “LIFW” or “the Company”), a Medicare, Medicaid, commercial, and secondary payer reimbursement recovery and technology leader, today announced that the Company will release its fourth quarter and full year 2022 financial results after the market closes on Friday, March 31, 2023.

CORAL GABLES, Fla., Jan. 03, 2023 (GLOBE NEWSWIRE) -- MSP Recovery, Inc. D/B/A LifeWallet (“LifeWallet”, or “the Company”), a Medicare, Medicaid, commercial, and secondary payer reimbursement recovery and technology leader, today announced the Company will commence trading of its common stock today, January 3, 2023 at 9:30 AM ET, under the new ticker symbol “LIFW”.

CORAL GABLES, Fla., March 29, 2023 (GLOBE NEWSWIRE) --  MSP Recovery, Inc. d/b/a LifeWallet (NASDAQ: LIFW) (“LifeWallet” or “LIFW” or the “Company”), today announced that, as projected, it has now finalized and entered into definitive agreements with respect to previously announced transactions with Hazel Partners Holdings, LLC for the purchase and sale of certain recovery rights by the Company, as well as received an additional tranche of funding pursuant to the credit agreement, which will provide the Company with an additional $15 million in working capital. Specifically, the Company is selling $150 million in claim recovery rights that it acquired previously from an assignor.   The $150 million represents a dollar figure that is significantly above the amount the Company previously paid for these recovery rights. In a separate transaction, the Company is also purchasing for $390 million, certain claim recovery rights. This dollar figure is for a significantly lower price than the Paid Amount (as defined in prior SEC filings) for specific case funnels, i.e., the identified recovery rights. The Company has previously reported recovering on similar accident-related litigation-based claims, 1st party demand letters, 3rd party demand letters, and case and lien recoveries at recovery multiples of 2.1x, 1.8x, 4.4x, and 1.7x, respectively, although the total size of the settlement amounts for which these recovery multiples relate were for significantly smaller amounts and in respect to limited portions of the case funnel.

CORAL GABLES, Fla., Jan. 02, 2023 (GLOBE NEWSWIRE) -- MSP Recovery, Inc. (NASDAQ: MSPR) (“MSPR”, “MSP Recovery”, the “Company,” or “LIFW”), which recently announced that it will begin doing business as LifeWallet in 2023 and that its ticker symbol will change to “LIFW” at the beginning of 2023, today announced that the Company entered into a term sheet relating to the sale of a portion of its Company owned Assignor Interests, as defined and as further described below, and certain other transactions (the "Term Sheet").

CORAL GABLES, Fla., March 10, 2023 (GLOBE NEWSWIRE) -- MSP Recovery, Inc. d/b/a LifeWallet (NASDAQ: LIFW) (“LifeWallet” or “LIFW” or the “Company”), filed a Form 8-k today with the United States Securities and Exchange Commission (the “SEC”) announcing that it has been actively negotiating a transaction with Hazel Partners Holdings, LLC – for which it previously announced a term sheet on January 2, 2023 – with respect to the acquisition by the Company of certain recovery rights which are expected to be financed in part by a seller loan from Hazel. The Company currently anticipates purchasing the claim recovery rights at approximately $0.20 of the Paid Amount for specific case funnels, i.e., the identified recovery rights. The Company has previously reported recovering on similar accident-related litigation-based claims, 1st party demand letters, 3rd party demand letters, and case and lien recoveries at recovery multiples of 2.1x, 1,8x, 4.4x, and 1.7x, respectively.

CORAL GABLES, Fla., Dec. 22, 2022 (GLOBE NEWSWIRE) -- MSP Recovery, Inc. (“MSP” or the “Company”) (NASDAQ: MSPR) (NASDAQ: MSPRW), a Medicare, Medicaid, commercial, and secondary payer reimbursement recovery and technology leader, today announced the Company will begin doing business as “LifeWallet” in 2023. In connection there with, the Company’s common stock will begin trading on Nasdaq under the ticker symbol “LIFW” at the beginning of 2023. This ticker symbol will replace the Company’s current ticker symbol for its common stock, “MSPR”. Additionally, the Company’s publicly traded warrants to purchase common stock will begin trading under the ticker symbols “LIFWW” and “LIFWZ”. These ticker symbols will replace the Company’s current ticker symbols for its publicly traded warrants, “MSPRW” and “MSPRZ”, respectively.

Recognized Gain on Debt Extinguishment of $63 Million During the Quarter Paid Value of Potentially Recoverable Claims Grew to $89.2 Billion During the Quarter Increase in Total Claims Recovery Income and Service Income of $3.0 Million over the Second Quarter Purchased Additional $48.2 Million in Future Recoveries and Signed a $7.5 Million Licensing Deal for LifeWallet

CORAL GABLES, Fla., Oct. 27, 2022 (GLOBE NEWSWIRE) -- MSP Recovery, Inc. (NASDAQ: MSPR) (“MSPR”, “MSP Recovery” or the “Company”), a Medicare, Medicaid, commercial, and secondary payer reimbursement recovery and technology leader, today provided a business update.

CORAL GABLES, Fla., Oct. 23, 2022 (GLOBE NEWSWIRE) -- MSP Recovery, LLC, a Medicare, Medicaid, commercial, and secondary payer reimbursement recovery and technology leader, today announced that the Company will release its third quarter 2022 financial results after the market closes on Tuesday, November 8, 2022.

CORAL GABLES, Fla., Oct. 13, 2022 (GLOBE NEWSWIRE) -- MSP Recovery, Inc. (NASDAQ: MSPR) (“MSPR”, “MSP Recovery” or the “Company”), a Medicare, Medicaid, commercial, and secondary payer reimbursement recovery and technology leader, today provided a business update.

MSP Recovery, LLC (“MSP” or “MSPR”), a Medicare, Medicaid, commercial, and secondary payer reimbursement recovery leader today announced it has entered into a Data Transfer Agreement (the “Agreement”) with one of the leaders in Mexican data and cybersecurity, SeguriTech, S.A. de C.V. (“SeguriTech”), positioning MSPR to expand its services internationally.

MSP Recovery, LLC (“MSP” or “MSP Recovery”), a Medicare, Medicaid, commercial, and secondary payer reimbursement recovery leader today announced the formation of a partnership to transform legal, data, and healthcare delivery into one united ecosystem. MSP will provide the detailed underlying legal, data and healthcare knowledge, utilizing Palantir Foundry as the foundation of the data ecosystem.