CORAL GABLES, Fla., March 10, 2023 (GLOBE NEWSWIRE) — MSP Recovery, Inc. d/b/a LifeWallet LIFW (“LifeWallet” or “LIFW” or the “Company”), filed a Form 8-k today with the United States Securities and Exchange Commission (the “SEC”), which announced that it was actively negotiating a transaction with Hazel Partners Holdings, LLC – for which it previously announced a term sheet for January 2, 2023 – in relation to the Company’s acquisition of certain recovery rights, which are expected to be funded in part by a vendor loan from Hazel. The Company currently expects to acquire the Collection Rights for approximately $0.20 of the amount paid for certain case hoppers, ie the Identified Collection Rights. The company has previously reported Recovery of similar accident-related litigation-based claims, first-party collection letters, third-party collection letters, and recovery cases and liens with recovery multiples of 2.1x, 1.8x, 4.4x, and 1.7x, respectively.

In a separate transaction, the Company intends to sell certain other claims in its portfolio to Hazel. The Company expects to have final agreements relating to such transactions before the end of the first quarter. As part of these transactions, the Company also announced today that it has entered into a credit agreement that will provide the Company with $48 million in working capital beginning in Q2 2023.

“Taken together, these transactions demonstrate the significant value of our assets and the future of our company,” said CEO and Founder John H. Ruiz. “Taken together, they position LifeWallet for a strong 2023.”

About LifeWallet
Founded in 2014, LifeWallet has grown into a leading Medicare, Medicaid, commercial and secondary payer reimbursement provider, disrupting the legacy healthcare reimbursement system with data-driven solutions to ensure reimbursements against accountable parties. LifeWallet offers understandable solutions for several industries, including…