# EDGAR Filing Document

**Accession Number:** 0001802450
**File Stem:** 0001193125-26-008897
**Filing Date:** 2026-1
**Character Count:** 14188
**Document Hash:** 3ff048f30792e8d57e4541dd46ad42b3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-008897.hdr.sgml**: 20260109

**ACCESSION NUMBER**: 0001193125-26-008897

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20260106

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

**ITEM INFORMATION**: Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260109

**DATE AS OF CHANGE**: 20260109

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MSP Recovery, Inc.
- **CENTRAL INDEX KEY:** 0001802450
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 844117825
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39445
- **FILM NUMBER:** 26523090

**BUSINESS ADDRESS:**
- **STREET 1:** 3150 SW 38TH AVENUE
- **STREET 2:** SUITE 1100
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33146
- **BUSINESS PHONE:** 305.614.2222

**MAIL ADDRESS:**
- **STREET 1:** 3150 SW 38TH AVENUE
- **STREET 2:** SUITE 1100
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33146

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Lionheart Acquisition Corp. II
- **DATE OF NAME CHANGE:** 20200724

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Lionheart Acquisition Corp.
- **DATE OF NAME CHANGE:** 20200205

?xml version='1.0' encoding='ASCII'? 8-K

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**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

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**FORM** 8-K

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**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(D)**

**OF THE SECURITIES EXCHANGE ACT OF 1934**

**Date of Report (Date of earliest event reported):** **January 6, 2026**

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MSP Recovery, Inc.

**(Exact name of registrant as specified in its charter)**

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| | | |
|:---|:---|:---|
| Delaware<br>**(State or other jurisdiction<br>of incorporation)** | 001-39445<br>**(Commission<br>File Number)** | 84-4117825<br>**(I.R.S. Employer<br>Identification No.)** |
| 3150 SW 38th Avenue<br>Suite 1100<br>Miami**,** Florida | 3150 SW 38th Avenue<br>Suite 1100<br>Miami**,** Florida | 33146 |
| **(Address of principal executive offices)** | **(Address of principal executive offices)** | **(Zip Code)** |

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(305) 614-2222

**(Registrant's telephone number, including area code)**

**N/A**

**(Former name or former address, if changed since last report)**

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading**<br>**Symbol(s)** | **Name of each exchange**<br>**on which registered** |
| Class A common stock, $0.0001 par value per share | MSPR | OTC Market Group, Inc. |
| Redeemable warrants, each lot of 4,375 warrants exercisable for one share of Class A common stock at an exercise price of $50,312.50 per share | MSPRW | OTC Market Group, Inc. |
| Redeemable warrants, each lot of 4,375 warrants exercisable for one share of Class A common stock at an exercise price of $0.4375 per share | MSPRZ | OTC Market Group, Inc. |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 1.01. Entry into a Material Definitive Agreement.**

As previously disclosed, on November 14, 2023, MSP Recovery, Inc. (the "Company") entered into the Standby Equity Purchase Agreement (as amended, the "SEPA") with YA II PN, LTD, a Cayman Islands exempt limited partnership ("Yorkville"), pursuant to which the Company has the right to sell to Yorkville up to $250 million of its shares of common stock, subject to certain limitations and conditions set forth in the SEPA, from time to time during the term of the SEPA.

In connection with the SEPA, and subject to the conditions set forth therein, Yorkville has agreed to advance capital to the Company in the form of convertible promissory notes (the "Convertible Notes"). As of the date hereof, the aggregate outstanding obligation of the Company to Yorkville under the Convertible Notes is approximately $3.6 million.

On December 22, 2025, the Company's Class A common stock ceased trading on the Nasdaq Capital Market and began trading on the OTC Venture market ("OTCQB"). Pursuant to Section 2(a)(iv) of the Notes, an Event of Default is deemed to occur if the Company's common stock ceases to be quoted or listed for trading on any "Primary Market" for a period of ten (10) consecutive trading days (the "Primary Market Period").

The ten (10) consecutive trading-day Primary Market Period following the Nasdaq delisting concluded on January 6, 2026.

On January 8, 2026, Yorkville delivered a letter to the Company memorializing Yorkville's agreement to extend the Primary Market Period from 10 consecutive trading days to 90 calendar days, or through March 22, 2026, provided that the Company's Class A common stock remains quoted for trading on the OTCQB during such period. This extension has the effect of deferring Yorkville's enforcement of remedies arising solely from the Nasdaq delisting, subject to the satisfaction of the foregoing condition.

**Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.**

As previously disclosed, the Convertible Notes constitute direct financial obligations of the Company. The Notes provide for interest accrual and repayment of principal and contain provisions governing acceleration and mandatory monthly payments following certain events of default.

If an Event of Default under the Notes were to be enforced, the Company could be required to make accelerated monthly payments of principal and accrued interest, which are currently expected to be approximately $1.5 million per month until the Notes are paid in full.

**Item 2.04. Triggering Events That Accelerate or Increase a Direct Financial Obligation.**

As described above, the expiration of the Primary Market Period on January 6, 2026 constituted a technical Event of Default under the Notes solely as a result of the Company's Class A common stock no longer being quoted on a Primary Market, as defined in the Notes.

Upon the occurrence of an Event of Default, the holder of the Notes has the contractual right to accelerate all outstanding principal and accrued interest and to require the Company to make monthly payments of principal and interest until the obligations under the Notes are satisfied.

As of the date hereof, Yorkville has not delivered any notice of acceleration, and no amounts under the Notes have been declared immediately due and payable. As described under Item 1.01 above, Yorkville has agreed to extend the applicable Primary Market Period, which defers enforcement of remedies arising from this Event of Default, subject to the Company's continued quotation on the OTCQB.

The Company does not believe that this technical Event of Default, or the extension granted by Yorkville, has resulted in any immediate cross-default or acceleration under any of the Company's other material indebtedness; however, there can be no assurance that additional Events of Default will not occur or that similar accommodations will be available in the future.

**Cautionary Note Regarding Forward-Looking Statements**

Certain statements made herein are not historical facts but may be considered "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934, as amended, and the "safe harbor" provisions under the Private Securities

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Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "agree," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook" or the negatives of these terms or variations of them or similar terminology or expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements involve risks, uncertainties, and other factors that may cause actual results, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements. Although the Company believes that it has a reasonable basis for each forward-looking statement contained in this Current Report, the Company cautions that these statements are based on a combination of facts and factors currently known by it and its projections of the future, about which it cannot be certain. Forward-looking statements are neither historical facts nor assurances of future results, performance, events or circumstances. Instead, these forward-looking statements are based on management's current beliefs, expectations, and assumptions, and are subject to risks and uncertainties. These risks and uncertainties include the Company's ability to maintain quotation of its Class A common stock on the OTCQB, the anticipated effect and duration of the extension of the Primary Market Period granted by Yorkville, and the potential occurrence or non-occurrence of additional Events of Default under the Company's financing arrangements, in addition to those risks more fully described in the Company's latest Annual Report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission ("SEC") on April 16, 2015, and subsequent Quarterly Reports on Form 10-Q, and other factors detailed from time to time in the Company's filings with the SEC. The Company undertakes no obligation to revise or update publicly any forward-looking statements.

**Item 9.01. Financial Statements and Exhibits.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(d) Exhibits*

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| | |
|:---|:---|
| &nbsp;&nbsp;**Exhibit**<br>**Number** | &nbsp;&nbsp;**Description** |
| &nbsp;&nbsp;10.1 | &nbsp;&nbsp;[<u>Yorkville SEPA (incorporated by reference to Exhibit 10.10 to the Form 10-Q filed on November 14, 2023)</u>](https://www.sec.gov/Archives/edgar/data/1802450/000095017023063845/lifw-ex10_10.htm) |
| &nbsp;&nbsp;10.2 | &nbsp;&nbsp;[<u>Form of Convertible Promissory Notes</u>](https://www.sec.gov/Archives/edgar/data/1802450/000095017024084572/lifw-ex10_2.htm) |
| &nbsp;&nbsp;10.3 | &nbsp;&nbsp;[<u>Letter Agreement dated January 8, 2026</u>](mspr-ex10_3.htm) |
| &nbsp;&nbsp;104 | &nbsp;&nbsp;Cover Page Interactive File (the cover page tags are embedded within the Inline XBRL document). |

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | **MSP RECOVERY, INC.** | **MSP RECOVERY, INC.** |
| Dated: January 9, 2026 |  |  |
|  | By: | */s/ John H. Ruiz* |
|  | Name: | John H. Ruiz |
|  | Title: | Chief Executive Officer |

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## Exhibit 10.3

***Exhibit 10.3***

![img251897086_0.jpg](img251897086_0.jpg)

January 8, 2026

**VIA EMAIL**

Yorkville Advisors Global

1012 Springfield Avenue

Mountainside, New Jersey 07092

Attention: Matthew Beckman

**Re: MSP Recovery, Inc. – Primary Market Period Extension**

Dear Mr. Beckman:

Reference is made to that certain Standby Equity Purchase Agreement dated November 14, 2023, as amended (the "<u>SEPA</u>"), by and between YA II PN, Ltd. ("<u>Yorkville</u>") and MSP Recovery, Inc. (the "<u>Company</u>"), and those certain Exchangeable Promissory Notes (the "<u>Notes</u>") issued pursuant thereto. Capitalized terms not defined herein shall have the meaning given such terms in the SEPA.

Pursuant to Section 2(a)(iv) of the Notes, in the event the Common Shares cease to be quoted or listed for trading on any Primary Market for a period of ten (10) consecutive Trading Days (the "<u>Primary Market Period</u>"), triggers an Event of Default.

This letter serves to memorialize Yorkville's agreement to extend such Primary Market Period, from ten (10) consecutive Trading Days to 90 calendar days, or March 22, 2026, provided that the shares of the Company's Class A Common Stock remain traded on the OTCQB.

The Company acknowledges that the agreement set forth herein does not and shall not create any obligation of Yorkville to agree to any future amendment, consent, or waiver and Yorkville shall have no obligation whatsoever to consider or agree to any future amendment, consent, or waiver or other agreement.

Thank you for your flexibility. Please feel free to contact me if you have any questions.

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***Exhibit 10.3***

Sincerely,

______________________

Name: John H. Ruiz

Title: Chief Executive Officer

Acknowledged and agreed: YA II PN, Ltd.

By: Yorkville Advisors Global, LP

Its: Investment Manager

By: Yorkville Advisors Global II, LLC

Its: General Partner

By:

______________________

Name: Matthew Beckman

Title: Member

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