MSP Recovery Inc. is undergoing significant restructuring changes as recent developments unfold. Initially, a Term Sheet was agreed upon by MSP Recovery Inc., Virage Recovery Master, LP, Hazel Partners Holdings, LLC, and other parties, aimed at cost reduction and debt conversion into equity. However, on May 30, 2025, Hazel terminated this agreement due to unmet conditions by the April 30 deadline, but provided a final funding advance of $0.8 million on June 2. Subsequently, Virage also terminated the agreement, citing Hazel's actions as the reason. Despite these setbacks, both Hazel and Virage have expressed a willingness to negotiate a new arrangement for additional working-capital funding to support MSP Recovery Inc.'s ongoing operations.
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