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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 LifeWallet) is a healthcare claims recovery company that uses data analytics to identify and recover payments from responsible parties in the Medicare system. The company went public via SPAC merger with Lionheart Acquisition Corporation II in 2022.
What Happened
Lionheart Acquisition Corporation II merged with MSP Recovery in May 2022 at a purported $33 billion valuation. The stock immediately cratered as investors questioned the company's revenue claims and business model. MSP Recovery rebranded to LifeWallet but the stock collapsed to near zero. It trades on OTC markets and faces severe going-concern doubts.
Timeline
2020-08-06
S-1 Registration Filed