MSP Recovery cites severe liquidity strain, delays Q2 report

MSP Recovery, Inc. (MSPR) notified the SEC that it will file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 late.

Rhea-AI Filing Summary

MSP Recovery, Inc. (MSPR) notified the SEC that it will file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 late. The company states it is experiencing severe liquidity constraints, is reliant on loan funding to support operations, and is actively evaluating and pursuing financing and reorganization alternatives, including preparation for a potential restructuring process.

The resignation of the Chief Financial Officer effective February 17, 2026 has created additional operational constraints on completing the quarter-end close and related disclosures. MSP Recovery has implemented interim measures to support financial reporting and is working to complete remaining closing items and file the Form 10-Q as soon as practicable, with timing dependent in part on obtaining sufficient financing or otherwise funding the closing process.

Positive

• None.

Negative

• Severe liquidity constraints and reliance on loan funding are disclosed, with the company evaluating financing and reorganization alternatives, including preparation for a potential restructuring process.
• Delayed Form 10-Q filing for the quarter ended June 30, 2026, with completion timing dependent on obtaining sufficient financing or otherwise funding the quarterly financial closing process.
• Chief Financial Officer resignation effective February 17, 2026 is cited as contributing to operational constraints in completing the financial close and disclosures.

Filing Explained

The June 30 quarterly report remains unfiled; the notice describes a conditional filing window of up to five calendar days.

This is a Form 12b-25 late-filing notification for the Form 10-Q for the quarter ended June 30, 2026, so the disclosure records a delayed report rather than the report’s filing. The company says the remaining close and disclosures are still being completed, with timing depending in part on obtaining sufficient financing or otherwise funding that process.

The form’s Rule 12b-25 instructions state that, if the relief applies, a quarterly report may be filed by the fifth calendar day after its prescribed due date; this notice does not establish that the 10-Q has been filed.

Key Figures

Quarter end date: June 30, 2026 CFO resignation effective date: February 17, 2026 NT 10-Q signature date: August 26, 2026

3 metrics

Quarter end date June 30, 2026 Fiscal quarter ended for the delayed Form 10-Q

CFO resignation effective date February 17, 2026 Effective date of Chief Financial Officer’s resignation cited as impacting the close

NT 10-Q signature date August 26, 2026 Date the notification of late filing was signed by the CEO

Key Terms

liquidity constraints, reorganization alternatives, potential restructuring process, Quarterly Report on Form 10-Q

4 terms

liquidity constraints financial

"The Company is experiencing severe liquidity constraints, is reliant on loan funding"

reorganization alternatives financial

"and is actively evaluating and pursuing financing and reorganization alternatives"

potential restructuring process financial

"including preparation for a potential restructuring process"

Quarterly Report on Form 10-Q regulatory

"unable to file its Quarterly Report on Form 10-Q for the fiscal quarter"

A quarterly report on Form 10-Q is a standardized financial filing public companies must submit to U.S. regulators every three months, summarizing recent financial results, cash flows, balance sheet changes, operations and material risks or legal developments. Investors treat it like a company report card that shows up-to-date facts rather than marketing copy, helping them track performance, spot trends, reassess risk and make buy or sell decisions.

FAQ

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

Why is MSPR delaying its Form 10-Q for the quarter ended June 30, 2026?

MSP Recovery, Inc. states it cannot file its Form 10-Q for the quarter ended June 30, 2026 without unreasonable effort or expense due to severe liquidity constraints, reliance on loan funding, ongoing financing and reorganization evaluations, and operational constraints following the CFO’s resignation.

What liquidity issues does MSPR report in this NT 10-Q filing?

MSP Recovery, Inc. discloses severe liquidity constraints and notes it is reliant on loan funding to support operations. It is actively evaluating and pursuing financing and reorganization alternatives, including preparation for a potential restructuring process.

How does the former CFO’s resignation affect MSPR’s June 30, 2026 Form 10-Q?

The company reports that the Chief Financial Officer resigned effective February 17, 2026, creating incremental operational constraints on completing the quarter-end financial close, preparing related disclosures, and internal review materials needed to finalize the Form 10-Q.

What steps is MSPR taking to complete the delayed Form 10-Q?

MSP Recovery, Inc. states it has implemented interim measures to support its financial reporting function and is working diligently to complete remaining financial closing items and file the Form 10-Q as soon as practicable, subject in part to obtaining sufficient financing.

Is MSPR considering a restructuring according to this NT 10-Q?

Yes. MSP Recovery, Inc. reports it is actively evaluating and pursuing financing and reorganization alternatives, including preparation for a potential restructuring process, in light of its severe liquidity constraints.

Who signed MSPR’s NT 10-Q notification of late filing?

The notification of late filing was signed by John H. Ruiz, Chief Executive Officer of MSP Recovery, Inc., dated August 26, 2026.

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Available on EDGAR 08/26/2026 - 04:02 PM EDT Accepted by SEC EDGAR 08/26/2026 - 04:01 PM EDT Learn about SEC filing dates

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 12b-25

NOTIFICATION OF LATE FILING

001-39445

(Commission File Number)

(Check one):	☐ Form 10-K	☐ Form 20-F	☐ Form 11-K	☒ Form 10-Q	☐ Form 10-D	☐ Form N-CEN
	☐ Form N-CSR

For Period Ended: June 30, 2026

☐ Transition Report on Form 10-K

☐ Transition Report on Form 20-F

☐ Transition Report on Form 11-K

☐ Transition Report on Form 10-Q

For the Transition Period Ended: _________________________

Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.

If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates:

PART I - REGISTRANT INFORMATION

MSP Recovery, Inc.

Full Name of Registrant

Former Name if Applicable: N/A

	3525 NW 7th Street
	Miami, Florida	33125
(Address of principal executive offices)		(Zip Code)

PART II - RULES 12b-25(b) AND (c)

If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)

☒		(a) The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;
☐		(b) The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-CEN or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and
☐		(c) The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.

PART III – NARRATIVE

State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-CEN, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.

The Company is unable to file its Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2026 (the “Form 10-Q”) by the prescribed due date without unreasonable effort or expense. The Company is experiencing severe liquidity constraints, is reliant on loan funding to support operations, and is actively evaluating and pursuing financing and reorganization alternatives, including preparation for a potential restructuring process.

In addition, the Company’s Chief Financial Officer resigned effective February 17, 2026. The departure of the Chief Financial Officer has created incremental operational constraints in completing the quarter-end financial close process and preparing related disclosures and internal review materials necessary to finalize the Form 10-Q. The Company has implemented interim measures to support the financial reporting function while it evaluates leadership and resource needs.

The Company is working diligently to complete the remaining financial closing items and to file the Form 10-Q as soon as practicable. The timing of the filing will depend on, among other things, the Company’s ability to obtain sufficient financing or otherwise fund the remaining quarterly financial closing process.

PART IV- OTHER INFORMATION

(1) Name and telephone number of person to contact in regard to this notification

John H. Ruiz		305		614-2222
(Name)		(Area Code)		(Telephone Number)

(2) Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s). ☒ Yes ☐ No

(3) Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof? ☐ Yes ☒ No

If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.

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MSP Recovery, Inc.

(Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.

Date: August 26, 2026
	By:	/s/ John H. Ruiz
		Name:	John H. Ruiz
		Title:	Chief Executive Officer

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