MSP’s $33 bln listing stretches SPACs to the limit

MSP Recovery

12/07/2021 16:10

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are her own.)
    By Jennifer Saba
    NEW YORK, July 12 (Reuters Breakingviews) - MSP Recovery
dogs insurance firms for healthcare payments the government was
forced to pick up. In a dysfunctional U.S. industry, that’s a
smart mission. But it’s complex, hard to value and has no real
peers. That, plus other unanswered questions, calls for a very
strong stomach.
    Full view will be published shortly.
    Follow @jennifersaba https://twitter.com/jennifersaba on
Twitter
         
    CONTEXT NEWS 
    - Special purpose acquisition company Lionheart Acquisition
Corp II said on July 12 it was merging with MSP Recovery in a
deal with an enterprise value of $32.6 billion.
    - MSP recovers improperly paid healthcare benefits on behalf
of Medicare, Medicaid and commercial payers.
    - The transaction would involve the SPAC injecting roughly
$230 million of cash into MSP.
    - For previous columns by the author, Reuters customers can
click on  SABA/ 
 

    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
MSP Recovery to go public via nearly $33 bln mega SPAC deal   
 urn:newsml:reuters.com:*:nL4N2OO194
Release    https://www.lionheartacquisitioncorp.com/press-releases/detail/45/lionheart-acquisition-corp-ii-announces-business
Presentation    https://d1io3yog0oux5.cloudfront.net/lionheartacquisitioncorp/files/pages/lionheartacquisitioncorp/db/967/pre_event_details/LCAP+2+and+MSP+Investor+Presentation.pdf
BREAKINGVIEWS-New SEC boss’s SPAC work is already partly done   
 urn:newsml:reuters.com:*:nL1N2MD2CK
BREAKINGVIEWS-Grab’s $40 bln debut comes with twin airbags   
 urn:newsml:reuters.com:*:nL4N2M706C
BREAKINGVIEWS-Clover Health takes knife to two sick systems   
 urn:newsml:reuters.com:*:nL1N2GX130
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
 (Editing by John Foley and Amanda Gomez)
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