MSP Recovery stock tumbles for second straight day after SPAC merger

MSP Recovery stock tumbles for second straight day after SPAC merger

May 25, 2022 by Seeking Alpha

Key Facts

  • Zolak/iStock via Getty Images MSP Recovery (MSPR) stock tumbled 26% on Wednesday, the day after the payments recovery company went public through a merger with SPAC Lionheart Acquisition Corp. II that pegged the enterprise value of the combined company at $32.6B.
  • MSPR went public through a merger with Lionheart on Tuesday.
  • The stock closed at $5.06 after its market debut, down 53% from its pre-merger close of $10.78 on Monday.
  • In July, MSP Recovery and Lionheart announced plans to merge through a deal that pegged the enterprise value of the combined company at around $32.6B.

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