What Happened to MSP Recovery?
Ticker: MSPRSPAC Year: 2020
Return
-99.7%
Current Price
$0.01
Peak Price
$51625
Trust Size
$1.6B
Summary
MSP Recovery (now operating as LifeWallet) is a healthcare data analytics company that uses technology to identify and recover payments that should have been covered by primary insurance rather than Medicare or Medicaid.
What Happened
MSP Recovery went public in May 2022 through a SPAC merger with Lionheart Acquisition Corp II at a staggering $33 billion valuation — one of the largest SPAC deals ever. The company claims to hold billions in healthcare claims recovery rights. However, the stock immediately collapsed, and MSP Recovery has faced lawsuits, restatements, and SEC scrutiny. The stock trades at roughly one penny, making it one of the most spectacular SPAC failures by market cap destruction.
Timeline
2020-08-06
S-1 Registration Filed