CORAL GABLES, Fla., March 29, 2023 (GLOBE NEWSWIRE) — MSP Recovery, Inc. d/b/a LifeWallet LIFW (“LifeWallet” or “LIFW” or the “Company”) announced today that it has now entered into and completed definitive agreements with respect to previously announced transactions with Hazel Partners Holdings, LLC for the Company’s purchase and sale of certain exploitation rights and received an additional tranche of financing under the Credit Agreement that will provide the Company with an additional $15 million in working capital. Specifically, the Company is selling $150 million of Claim Collection Rights it previously purchased from an assignor. The $150 million represents a dollar amount significantly in excess of the amount previously paid by the Company for these recovery rights. In a separate transaction, the company is also acquiring certain debt collection rights for $390 million. This dollar figure is for a significantly lower price than the amount paid (as defined in previous SEC filings) for specific case hoppers, ie identified recovery rights. The company has previously reported that it is recovering on similar accident-related litigation-based claims, first-party collection letters, third-party collection letters, and case recovery and liens with recovery multiples of 2.1x, 1.8x, 4.4x, and 1.7x, respectively was drafted. although the aggregate settlement amounts to which these recovery multipliers relate were for significantly smaller amounts and in relation to limited parts of the funnel.

As previously announced, the Company has entered into a credit agreement providing the Company with working capital of US$48 million, the funding of which is subject to certain milestones. Detailed financial data related to the transactions are reflected in the Company’s Financial Report First Quarter 2023 financial results in a few months.

“Taken together, these transactions demonstrate the significant value of our assets and the future of our company,” said CEO and…