MSP Recovery rebounds after debt restructuring

 

• MSP Recovery (NASDAQ:MSPR) entered into a strategic term sheet agreeing to several restructuring transactions.
• These initiatives are designed to reduce the costs of the company through a new servicer entity, deleverage the company by converting certain debt of significant creditors into equity and releasing $1.2B of debt guaranteed by the company, provide access to $9.75M bridge funding and up to $25M working capital for a new servicer, and focus the company’s operations.
• The execution of definitive agreements and closing of the restructuring are expected no later than April 30, 2025.
• The stock price skyrocketed, up 169% to $3.45 per share on Friday during pre-market hours of trading.

https://www.msn.com/en-us/money/companies/msp-recovery-rebounds-after-debt-restructuring/ar-AA1CJ7G0