MSP Recovery plunges 3rd straight day since SPAC merger

MSP Recovery

26/05/2022 17:44

** Shares of MSP Recovery Inc  MSPR.O  down 32.6% at $2.52,
falling for 3rd straight day since Medicare, Medicaid
reimbursement recovery firm's debut on Tues
    ** MSPR has now plunged nearly 80% since co completed SPAC
deal with Lionheart Acquisition Corp II  urn:newsml:reuters.com:*:nL2N2XG12L
    ** Co early Thurs reaffirmed rev guidance saying it will
either match or surpass the $992 mln in gross rev for 2022 set
forth in its models  urn:newsml:reuters.com:*:nGNX1wCB
    ** It also pointed to recently published Forbes article that
"selectively reported on certain portions of MSPR’s public
filings and was based on a faulty premise," CEO John Ruiz said
in statement
    ** "Specifically, the Forbes piece stated that MSPR’s
“central tension” is that it has not litigated its claims and
therefore it is difficult to assess its monetary value. But
MSPR’s SEC filings and court record filings demonstrate that
MSPR’s claims and data processes have been substantiated by
significant court victories..." (MSP Recovery)
    ** The SPAC boom has fizzled this year amid collapse of some
high-profile listings and overall challenging market conditions
    ** The SEC in Mar proposed new rules that would increase
disclosure requirements for SPACs. Soured sentiment and
regulatory challenges caused some investment banks, including
Goldman Sachs  GS.N  and Credit Suisse  CSGN.S , to shrink their
footprint 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))