Lionheart Acquisition II in a news relase said its S-4 on a mega-merger with MSP Recovery has been declared effective by the SEC.
Announced in July 2021, the deal values the combined companies at $32.6B. That valuation makes it one of the top 3 largest SPAC transactions ever.
The SPAC scheduled a shareholder vote for May 18 on the proposed merger.
The transaction is anticipated to generate gross proceeds of up to approximately $230 million of cash, assuming no redemptions by Lionheart’s public stockholders.
MSP Recovery specializes in recovering improper payments for Medicare and commercial providers. MSP is currently pursuing the more than $50 billion it owns in billed amounts against insurance companies that have primary payment responsibility as well as medical and pharmaceutical manufacturers that either caused the expenditure of medical treatment or inflated their prices against the law. Read more.
