MSP Recovery Inc. Enters Agreement for $55M Secured Loan Facility Amid Restructuring Efforts
Reuters
Sep 02
<a href="https://laohu8.com/S/MSPR">MSP Recovery</a> Inc. Enters Agreement for $55M Secured Loan Facility Amid Restructuring Efforts
MSP Recovery Inc. has entered a Term Sheet with a potential Lender for a first lien secured delayed draw term loan facility of up to $55.0 million. This facility includes Tranche A Loans of up to $10.0 million and a Tranche B Loan of up to $45.0 million, contingent on certain conditions and subject to the Lender's discretion. The Term Sheet outlines binding provisions such as exclusivity and confidentiality, and it proposes the possible appointment of a Chief Restructuring Officer. Additionally, the Company would issue warrants to the Lender for shares, with a maximum coverage of approximately 46.0% on a fully diluted basis if fully drawn. The agreement is non-binding and dependent on further negotiations and the execution of definitive documentation.
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