Benzinga · Jul 12, 2021
MSP Recovery Going Public Via SPAC With Portfolio Of $50B In Unpaid Claims: What Investors Should Know
One of the largest SPAC deals of all time was announced Monday morning with MSP Recovery announcing a merger. The SPAC Deal: MSP Recovery announced a SPAC merger with Lionheart Acquisition Corp II (NASDAQ: LCAP) valuing the company at a pro forma enterprise value of $32.6 billion. There was not a PIPE on the SPAC merger for MSP Recovery, joining a limited number of recent SPAC deals that don’t include this financing method. Public LCAP shareholders will own 0.7% of the company after the merger. Shareholders who do not redeem their shares at the merger vote will receive at least 35 additional warrants with a five-year tenor and $11.50 strike price. Shares are expected to list on the Nasdaq with ticker MSPR after the merger. About ...
