Lionheart Acquisition II shareholders voted in favor of combining with MSP Recovery, which pursues Medicare, Medicaid, commercial, and secondary payer reimbursements.
No word on redemptions, if any, although the SPAC traded above the $10 danger zone up through its redemption deadline.
The business combination is expected to close tomorrow. The combined companies are valued at $32.6B. At that valuation, the deal is one of the top 3 largest SPAC transactions ever.
The transaction was expected to generate gross proceeds of up to approximately $230 million of cash, which was based on zero redemptions by Lionheart’s public stockholders. Read more.
