MSP Recovery, Now Doing Business as LifeWallet, Entered into a Term Sheet for the Monetization of a Portion of Its Company-owned Assignor Interests as a New Source of Monetization for $275 Million, and Payment of $48 Million in Servicing Fees for 2023
CORAL GABLES, Fla., Jan. 02, 2023 (GLOBE NEWSWIRE) -- MSP Recovery, Inc. (NASDAQ:MSPR) ("MSPR", "MSP Recovery", the "Company," or "LIFW"), which recently announced that it will begin doing business as LifeWallet in 2023 and that its ticker symbol will change to "LIFW" at the beginning of 2023, today announced that the Company entered into a term sheet relating to the sale of a portion of its Company owned Assignor Interests, as defined and as further described below, and certain other transactions (the "Term Sheet"). In the ordinary course of its business, LIFW acquires assignments of recoveries from health insurance payors, healthcare providers and others, and uses its proprietary multi-
