MSP Recovery dives after dismal debut

MSP Recovery

25/05/2022 20:12

** MSP Recovery's  MSPR.O  shares down 25.3% at $3.78, a day
after Medicare, Medicaid reimbursement recovery firm's dismal
debut
    ** MSPR on Tues plunged 53% to close at $5.06 after co
completed merger with special-purpose acquisition company (SPAC)
Lionheart Acquisition Corp II  urn:newsml:reuters.com:*:nL2N2XG12L
    ** The $32.6 bln deal announced last Jul was second-largest
SPAC merger on record, just behind ride-hailing and delivery
firm Grab  GRAB.O 
    ** GRAB down 2.4% at $2.49 on Weds and now off >70% since
its Dec debut  urn:newsml:reuters.com:*:nL1N2SM3J3
    ** The SPAC boom ground to a halt this year amid collapse of
some high-profile listings and overall dour market conditions
    ** In Mar, the SEC proposed new rules that would increase
disclosure requirements and potential legal liability for SPACs
and their investment banks. Soured sentiment and regulatory
challenges prompted some banks, including Goldman Sachs  GS.N ,
to reduce their involvement in the business  urn:newsml:reuters.com:*:nL3N2X132A
 urn:newsml:reuters.com:*:nL2N2WW1U6

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))