Claim is identified or discovered, together with all receivables, general intangibles, payment intangibles, and other rights to payment now existing or hereafter arising and all products and proceeds of the foregoing;
“
Class A Common Stock
” means the shares of the Company’s Class A common stock, par value $0.0001 per share;
“
Class B Unit
” means the non-voting economic Class B Units of Opco, as described in more detail in Note 1,
Description of the Business
, to the consolidated financial statements included in our 2024 Annual Report;
“
Class V Common Stock
” means the shares of the Company’s Class V common stock, par value $0.0001 per share;
“
Common Stock
” means shares of the Company’s Class A Common Stock and Class V Common Stock;
“
Company
” means MSP Recovery, Inc., a Delaware corporation;
“
Exchange Act
” means the Securities Exchange Act of 1934, as amended;
“
HMO
” means health maintenance organization;
”
HHI
” means Hazel Holdings I LLC, a Delaware limited liability company;
“
HPH
” means Hazel Partners Holdings, LLC, a Delaware limited liability company;
“
Incentive Plan
” means the MSP Recovery Omnibus Incentive Plan effective May 18, 2022, a copy of which is filed as an Exhibit 10.16 to our Form S-1 Registration Statement filed on November 30, 2022;
“
Law Firm
” means La Ley con John H. Ruiz P.A. d/b/a MSP Recovery Law Firm and MSP Law Firm PLLC;
“
Members
” means members of the MSP Purchased Companies, as defined in the MIPA (as defined below);
“
MIPA
” means the Membership Interest Purchase Agreement, dated as of July 11, 2021, as described in more detail in Note 1,
Description of the Business
, to the consolidated financial statements included in our 2024 Annual Report;
“
MSP Act
” means Medicare Secondary Payer Act;
“
MSP Laws
” means the MSP Act and associated federal regulations;
“
MSP Principals
” means the Chairman of the Board and Chief Executive Officer, John H. Ruiz, and the Director and Chief Legal Officer, Frank C. Quesada;
“
MSP Recovery
” means MSP Recovery, LLC, a Florida limited liability company;
“
Near Real-Time
” pertains to the timeliness of data or information that has been delayed by the time required for electronic communication and automatic data processing, implying that there are typically no significant delays;
“
New Warrants
” means 1,028,000,000 warrants, each exercisable to purchase 1/625 of one share of Class A Common Stock (but only exercisable in lots of 625 to purchase whole shares), which were issued as a dividend to the holders of record of Class A Common Stock as of the close of business on the date of Closing;
“
Opco
” means Lionheart II Holdings, LLC, a Delaware limited liability company and a wholly owned subsidiary of the Company;