MSP RECOVERY INC SEC Filings

MSP Recovery, Inc. disclosed two small one-time financing arrangements and a downgrade in its trading venue. On May 15, 2026, Hazel Partners Holdings LLC agreed, in its sole discretion, to provide a $0.1 million advance under the existing working capital credit facility, funded the same day, but explicitly without reinstating or reopening ongoing availability. The company states it has no rights to and no reasonable basis to expect further Hazel funding.

Also on May 15, 2026, VRM MSP Recovery Partners, LLC agreed to a separate one-time advance of recovery proceeds of $0.1 million, to be repaid from future financing transactions or possible debtor-in-possession financing. On May 19, 2026, OTC Markets Group notified the company that, because it did not timely file its Form 10-K for the year ended December 31, 2025, its Class A common stock will be downgraded from the OTCQB Venture Market to the OTC Pink market effective May 20, 2026, which the company notes could adversely affect liquidity, market price, and access to certain investors.

MSP Recovery, Inc. notified the SEC it cannot timely file its Quarterly Report on Form 10-Q for the period ended March 31, 2026. The company cites severe liquidity constraints, reliance on loan funding, and that it is "actively evaluating and pursuing financing and reorganization alternatives, including preparation for a potential restructuring process." The filing also states the Chief Financial Officer resigned effective February 17, 2026, which "created incremental operational constraints" for completing the quarter-end close. The company says it is implementing interim measures and will file the Form 10-Q as soon as practicable; timing depends on its ability to obtain sufficient financing. The notification is signed by CEO John H. Ruiz on May 18, 2026.

MSP Recovery, Inc. notified the SEC it cannot timely file its Quarterly Report on Form 10-Q for the period ended March 31, 2026. The company cites severe liquidity constraints, reliance on loan funding, and that it is "actively evaluating and pursuing financing and reorganization alternatives, including preparation for a potential restructuring process." The filing also states the Chief Financial Officer resigned effective February 17, 2026, which "created incremental operational constraints" for completing the quarter-end close. The company says it is implementing interim measures and will file the Form 10-Q as soon as practicable; timing depends on its ability to obtain sufficient financing. The notification is signed by CEO John H. Ruiz on May 18, 2026.

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.

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.

MSP Recovery, Inc. entered two small, one-time funding arrangements that highlight its constrained liquidity. Through a Hazel Partners Holdings LLC letter agreement, the company received a $0.1 million discretionary advance under its existing working capital credit facility, increasing prior Operational Collection Floor advances of about $6.0 million. The facility remains fully discretionary, provides no committed liquidity, and offers no additional availability beyond this single advance.

The company also signed an Advance Letter with VRM MSP Recovery Partners, LLC, under which VRM provided a separate $0.1 million one-time advance of recovery proceeds to support accounts payable. MSP Recovery must reimburse VRM for this advance and certain prior consents upon closing any future financing, including potential debtor-in-possession financing if it operates under Chapter 11 protection. Both agreements expressly state there is no obligation for further funding and caution that these advances should not be viewed as evidence of future liquidity.

MSP Recovery, Inc. entered two small, one-time funding arrangements that highlight its constrained liquidity. Through a Hazel Partners Holdings LLC letter agreement, the company received a $0.1 million discretionary advance under its existing working capital credit facility, increasing prior Operational Collection Floor advances of about $6.0 million. The facility remains fully discretionary, provides no committed liquidity, and offers no additional availability beyond this single advance.

The company also signed an Advance Letter with VRM MSP Recovery Partners, LLC, under which VRM provided a separate $0.1 million one-time advance of recovery proceeds to support accounts payable. MSP Recovery must reimburse VRM for this advance and certain prior consents upon closing any future financing, including potential debtor-in-possession financing if it operates under Chapter 11 protection. Both agreements expressly state there is no obligation for further funding and caution that these advances should not be viewed as evidence of future liquidity.

MSP Recovery, Inc. obtained two small, one-time funding arrangements totaling $0.2 million on April 16, 2026, highlighting near-term liquidity pressure. Through its Hazel Partners working capital credit facility, Hazel agreed in its sole discretion to provide a $0.1 million advance primarily for operating expenses, funded under the discretionary Operational Collection Floor.

The company also entered a letter agreement with VRM MSP Recovery Partners, LLC, which provided a one-time advance of recovery proceeds of $0.1 million to support accounts payable, to be reimbursed from any future financing, including potential debtor-in-possession financing if the company operates under Chapter 11 protection. MSP Recovery emphasizes that these advances do not create ongoing access to liquidity, and it has no rights or reasonable basis to expect further funding from Hazel or VRM.

MSP Recovery, Inc. obtained two small, one-time funding arrangements totaling $0.2 million on April 16, 2026, highlighting near-term liquidity pressure. Through its Hazel Partners working capital credit facility, Hazel agreed in its sole discretion to provide a $0.1 million advance primarily for operating expenses, funded under the discretionary Operational Collection Floor.

The company also entered a letter agreement with VRM MSP Recovery Partners, LLC, which provided a one-time advance of recovery proceeds of $0.1 million to support accounts payable, to be reimbursed from any future financing, including potential debtor-in-possession financing if the company operates under Chapter 11 protection. MSP Recovery emphasizes that these advances do not create ongoing access to liquidity, and it has no rights or reasonable basis to expect further funding from Hazel or VRM.

MSP Recovery, Inc. disclosed two small, one-time funding arrangements that highlight its constrained liquidity. Through a Hazel Partners Holdings LLC working capital facility, Hazel agreed in its sole discretion to fund a $0.1 million advance for operating expenses under the Operational Collection Floor, funded on March 23, 2026. This advance does not reinstate or reopen any broader availability under the facility, and the company states it has no rights to and no reasonable basis to expect further advances from Hazel.

Separately, MSP Recovery entered into a letter agreement with VRM MSP Recovery Partners, LLC, under which VRM made a one-time advance of recovery proceeds of $0.1 million to support accounts payable. The company must reimburse VRM for this advance and certain prior permitted uses of VRM’s recovery proceeds promptly upon closing of any future loan or other financing, including any debtor-in-possession financing if it operates under Chapter 11 protection. Both fundings are explicitly characterized as one-time accommodations and do not provide ongoing or recurring liquidity.

MSP Recovery, Inc. disclosed two small, one-time funding arrangements that highlight its constrained liquidity. Through a Hazel Partners Holdings LLC working capital facility, Hazel agreed in its sole discretion to fund a $0.1 million advance for operating expenses under the Operational Collection Floor, funded on March 23, 2026. This advance does not reinstate or reopen any broader availability under the facility, and the company states it has no rights to and no reasonable basis to expect further advances from Hazel.

Separately, MSP Recovery entered into a letter agreement with VRM MSP Recovery Partners, LLC, under which VRM made a one-time advance of recovery proceeds of $0.1 million to support accounts payable. The company must reimburse VRM for this advance and certain prior permitted uses of VRM’s recovery proceeds promptly upon closing of any future loan or other financing, including any debtor-in-possession financing if it operates under Chapter 11 protection. Both fundings are explicitly characterized as one-time accommodations and do not provide ongoing or recurring liquidity.

MSP Recovery, Inc. disclosed two small, one-time funding arrangements and key leadership departures. The company obtained a $0.2 million discretionary advance from Hazel Partners Holdings LLC under its working capital credit facility and a separate $0.2 million one-time advance of recovery proceeds from VRM MSP Recovery Partners, LLC, both primarily for operating needs and accounts payable.

The company emphasizes that its Hazel facility remains fully discretionary, provides no committed liquidity, and that it has no rights to and no reasonable basis to expect further advances. It also states that the VRM advance does not imply any obligation for future funding. In addition, director Ophir Sternberg resigned from the board, and Francisco Rivas‑Vasquez resigned as Chief Financial Officer, with both departures described as not due to disagreements over operations, policies, or practices.

MSP Recovery, Inc. disclosed two small, one-time funding arrangements and key leadership departures. The company obtained a $0.2 million discretionary advance from Hazel Partners Holdings LLC under its working capital credit facility and a separate $0.2 million one-time advance of recovery proceeds from VRM MSP Recovery Partners, LLC, both primarily for operating needs and accounts payable.

The company emphasizes that its Hazel facility remains fully discretionary, provides no committed liquidity, and that it has no rights to and no reasonable basis to expect further advances. It also states that the VRM advance does not imply any obligation for future funding. In addition, director Ophir Sternberg resigned from the board, and Francisco Rivas‑Vasquez resigned as Chief Financial Officer, with both departures described as not due to disagreements over operations, policies, or practices.

MSP Recovery, Inc. entered into a letter agreement with Hazel Partners Holdings LLC, its working capital lender, under which Hazel made a one-time discretionary advance of $250,000 on January 26, 2026, to be used primarily for operating expenses. This advance increases the amount previously drawn under the facility’s Operational Collection Floor but is described as a standalone accommodation. The company states that this funding does not reinstate or reopen availability under the working capital credit facility and that, apart from this advance, no additional funding is currently available. MSP Recovery further notes it has no rights to, and no reasonable basis to expect, any further advances, and cautions that this payment should not be seen as a sign of future support or ongoing liquidity.

MSP Recovery, Inc. entered into a letter agreement with Hazel Partners Holdings LLC on January 19, 2026 for a one-time advance of $300,000 under its existing working capital credit facility. The funds were provided through the facility’s discretionary Operational Collection Floor and may be used solely for operating expenses.

The advance, funded on January 20, 2026, was subject to conditions under the credit agreement, including no default at the time of funding. MSP Recovery explains that this is a standalone accommodation that does not reinstate or expand availability under the working capital facility, which previously had reached approximately $6.0 million of aggregate advances. The company states that no additional funding is currently available under the facility and that it has no rights to, and no reasonable basis to expect, further advances from Hazel, cautioning that this payment should not be viewed as an indication of ongoing liquidity support.

MSP Recovery, Inc. entered into a letter agreement with Hazel Partners Holdings LLC on January 19, 2026 for a one-time advance of $300,000 under its existing working capital credit facility. The funds were provided through the facility’s discretionary Operational Collection Floor and may be used solely for operating expenses.

The advance, funded on January 20, 2026, was subject to conditions under the credit agreement, including no default at the time of funding. MSP Recovery explains that this is a standalone accommodation that does not reinstate or expand availability under the working capital facility, which previously had reached approximately $6.0 million of aggregate advances. The company states that no additional funding is currently available under the facility and that it has no rights to, and no reasonable basis to expect, further advances from Hazel, cautioning that this payment should not be viewed as an indication of ongoing liquidity support.

MSP Recovery reports that it has entered into confidential settlement agreements in ongoing legal matters totaling $2.9 million in cash. Some of this cash will be shared with counterparties under the company’s existing participation and distribution agreements, so not all proceeds will stay with the company.

One preliminary mediated settlement with a property and casualty insurer includes a commitment to provide historical claims data, help reconcile current and future assigned Medicare claims, and make a cash payment to resolve historical claims. A separate confidential settlement was reached with a pharmaceutical defendant in litigation over alleged overpayments. Management notes that these settlements are still being finalized and warns that definitive agreements may not be executed or deliver the expected working capital or operational benefits.