Lionheart Acquisition Corp II trims gains after mega-merger with MSP Recovery

MSP Recovery

12/07/2021 13:59

(Updates)
    ** Blank-check co's  LCAP.O  shares trim early gains, now up
~1% at $9.98 premarket
    ** Stock jumped as much as 8.6% earlier, set to open at over
a month's high
    ** Co to take payments recovery firm MSP Recovery public in
$32.6 bln SPAC deal  urn:newsml:reuters.com:*:nL4N2OO194
    ** Deal would be the second-biggest SPAC merger ever, behind
the ~$40 bln Grab Holdings-Altimeter Growth Corp  AGC.O  merger
    ** Agreement will fetch $230 mln in proceeds for MSP - LCAP,
which had its IPO in August
    ** SPAC's shareholders will be issued more than 1 bln
warrants in connection with the merger if they do not redeem
common shares - LCAP
    ** As of last close, shares down ~2% YTD

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))