MSP Recovery securities removed from Nasdaq listing

Nasdaq Stock Market LLC has notified removal of MSP Recovery, Inc. securities from Nasdaq listing and/or registration, citing applicable Exchange rules and 17 CFR 240.12d2-2 provisions.

Rhea-AI Filing Summary

Nasdaq Stock Market LLC has notified removal of MSP Recovery, Inc. securities from Nasdaq listing and/or registration, citing applicable Exchange rules and 17 CFR 240.12d2-2 provisions. The filing names the affected classes as Class A Common Stock and two series of redeemable warrants, including warrants exercisable at $50,312.50 per share and at $0.4375 per share. The form carries an expiry reference of March 31, 2018 and is signed by a Nasdaq hearings advisor.

Insights

Exchange Compliance Analyst

Nasdaq certified removal under 17 CFR 240.12d2-2; issuer and Exchange compliance noted.

Nasdaq submitted a Form 25 indicating it has "reasonable grounds" and that both the Exchange and the issuer complied with the procedures in 17 CFR 240.12d2-2. The filing lists the affected securities classes and identifies the Exchange signatory.

Timing and market impact are not stated here; subsequent filings or exchange notices would show the effective delisting date and any transfer or suspension mechanics.

Key Figures

Regulation cited: 17 CFR 240.12d2-2 Warrant exercise price (series 1): $50,312.50 Warrant exercise price (series 2): $0.4375 +1 more

4 metrics

Regulation cited 17 CFR 240.12d2-2 Nasdaq compliance certification

Warrant exercise price (series 1) $50,312.50 exercise price per share for one warrant lot

Warrant exercise price (series 2) $0.4375 exercise price per share for the other warrant lot

Expiry reference March 31, 2018 expiry reference on the filing cover line

Key Terms

Form 25, redeemable warrants, 17 CFR 240.12d2-2

3 terms

Form 25 regulatory

"FORM 25 NOTIFICATION OF REMOVAL FROM LISTING"

A Form 25 is an official filing with the U.S. Securities and Exchange Commission used to remove a company's stock or other security from a national exchange list. Investors should care because delisting often means less visibility, lower trading volume and wider price swings—similar to a product moving from a major supermarket to a small local market, which can make buying, selling and valuing the security more difficult.

redeemable warrants financial

"Redeemable warrants, each lot of 4,375 warrants is exercisable"

A redeemable warrant is a tradable right that lets its holder buy a company’s shares at a fixed price before a set date, but the issuer has the contract power to cancel (redeem) the warrant early under agreed terms. For investors this matters because early redemption can force decision-making, change the timing of when new shares might be created, and affect potential gains or dilution—much like a store coupon that the issuer can cancel by paying you off instead of letting you use it.

17 CFR 240.12d2-2 regulatory

"Pursuant to 17 CFR 240.12d2-2(b), the Exchange has complied"

A U.S. Securities and Exchange Commission rule that describes the conditions and procedural steps for a security to be removed from public registration or reporting under the Securities Exchange Act of 1934. For investors, it matters because it explains when a company’s shares can stop being subject to regular disclosure and exchange listing rules — similar to knowing when a publicly tracked product will be discontinued and no longer send updates, which affects transparency and liquidity.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did the Form 25 filed for MSPR state?

The Form 25 states Nasdaq notified removal of MSP Recovery, Inc. securities from listing. It names the affected classes as Class A Common Stock and two series of redeemable warrants, and cites compliance with 17 CFR 240.12d2-2.

Which MSP Recovery securities are identified in the filing?

The filing identifies Class A Common Stock and two series of redeemable warrants. One warrant series shows an exercise amount of $50,312.50 per share and the other $0.4375 per share.

Who signed the Nasdaq Form 25 for MSPR?

The Form 25 is signed on behalf of Nasdaq by Aravind Menon, identified as a Hearings Advisor. The filing certifies Nasdaq believes it has reasonable grounds for the notification.

Does the filing state an effective delisting date?

The filing includes an expiry reference of March 31, 2018. It does not explicitly state an effective delisting date or mechanics beyond compliance with Exchange rules.

Does the Form 25 specify who receives any proceeds or settlement details?

No. The Form 25 lists the securities and compliance statements but does not describe proceeds, settlements, or cash‑flow treatment related to the removal.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/18/2026 - 01:27 PM Learn about SEC filing dates

UNITED STATES

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OMB Number:			3235-0080
Expires:	March 31, 2018
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SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 25

NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION
UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934.

Commission File Number

001-39445

Issuer:	MSP Recovery, Inc.
Exchange:	Nasdaq Stock Market LLC

(Exact name of Issuer as specified in its charter, and name of Exchange where security is listed and/or registered)

Address:	3150 SW 38th Avenue, Suite 1100
	Miami	FLORIDA	33146
Telephone number:					617-283-6178

(Address, including zip code, and telephone number, including area code, of Issuer's principal executive offices)

Class A Common Stock, Redeemable warrants, each lot of 4,375 warrants is exercisable for one share of Class A common stock at an exercise price of $50,312.50 per share and Redeemable warrants, each lot of 4,375 warrants is exercisable for one share of Class A common stock at an exercise price of $0.4375 per share

(Description of class of securities)

Please place an X in the box to designate the rule provision relied upon to strike the class of securities from listing and registration:

17 CFR 240.12d2-2(a)(1)

17 CFR 240.12d2-2(a)(2)

17 CFR 240.12d2-2(a)(3)

17 CFR 240.12d2-2(a)(4)

Pursuant to 17 CFR 240.12d2-2(b), the Exchange has complied with its rules to strike the class of securities from listing and/or withdraw registration on the Exchange. ¹

Pursuant to 17 CFR 240.12d2-2(c), the Issuer has complied with its rules of the Exchange and the requirements of 17 CFR 240.12d-2(c) governing the voluntary withdrawal of the class of securities from listing and registration on the Exchange.

Pursuant to the requirements fo the Securities Exchange Act of 1934, Nasdaq Stock Market LLC certifies that it has reasonable grounds to believe that it meets all of the requirements for filing the Form 25 and has caused this notification to be signed on its behalf by the undersigned duly authorized person.

2026-05-18	By	Aravind Menon		Hearings Advisor
Date		Name		Title

¹ Form 25 and attached Notice will be considered compliance with the provisions of 17 CFR 240.19d-1 as applicable. See General Instructions.

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.