In a recent filing with the Securities and Exchange Commission, Mayra Cristina Ruiz, a significant shareholder of MSP Recovery, Inc. (NASDAQ:MSPR), disclosed stock transactions involving both non-derivative and derivative securities. The report, filed on December 17, 2024, outlines transactions dated December 13, 2024. The transactions come at a time when MSPR's stock has experienced significant volatility, with shares trading at $1.94, down 97% over the past year.
Ruiz's non-derivative transaction involved 16,000 shares of Class A Common Stock. This transaction was carried out as part of a marital settlement agreement, resulting in a transfer of shares with a total value of $0, reflecting a price of $0 per share.
In the derivative securities section, Ruiz acquired 1,012,123 Up-C Units, which are convertible into an equal number of Class A Common Stock shares. This acquisition was also linked to the marital settlement, with a significant portion of the units transferred from John H. Ruiz. Additionally, Ruiz holds 1,354 shares of Class A Common Stock through the exercise of warrants, which are exercisable at $7,187.50 per share and expire in 2027.
These transactions underscore the changes in Ruiz's ownership of MSP Recovery, highlighting the impact of personal agreements on stock holdings within the company.
In other recent news, MSP Recovery, Inc. has made several strategic moves. The company announced a significant rebranding initiative, consolidating all its lines of business under the MSP Recovery brand and changing its stock market listing from the Nasdaq Global Market to the Nasdaq Capital Market. Additionally, MSP Recovery has regained compliance with Nasdaq's minimum bid price requirement, ensuring its Class A common stock remains actively traded.
In terms of financial developments, MSP Recovery issued new warrants to Virage Recovery Master LP as part of an ongoing agreement and secured a significant agreement modification with Virage, providing increased financial management flexibility. The company also issued a substantial number of shares to investment firm Yorkville to finance its growth.
In terms of operations, MSP Recovery acquired recovery rights to a portfolio of Medicare Secondary Payer claims exceeding $10.6 billion from Hazel Partners Holdings LLC, marking a significant expansion of its claims recovery operations. Furthermore, the company's Board of Directors has been authorized to implement a reverse stock split of its common stock.
These recent developments highlight MSP Recovery's strategic efforts to align with market standards, manage its financial obligations, and expand its operations. These actions are part of MSP Recovery's broader strategy to strengthen its position in the healthcare reimbursement sector.
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