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2021-07-12

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MSP Recovery to go public via $32.6 billion SPAC deal

(Reuters) -MSP Recovery, which offers services to recover money from Medicare and Medicaid secondary

MSP Recovery to go public via $32.6 billion SPAC deal

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Its platform can be used to identify and recover claims its clients “should never have paid”.</p>\n<p>The company earns a fee only after a successful recovery.</p>\n<p>Special purpose acquisition companies, or SPACs, are shell companies that raise funds through an initial public offering to take a private company public through a merger at a later date.</p>\n<p>At $32.6 billion, the merger is second in size only to the nearly $40 billion deal inked in April between Southeast Asia’s Grab and Altimeter Growth Corp.</p>\n<p>The MSP deal is also the largest since the U.S. Securities and Exchange Commission said it was considering new rules to protect investors amid a surge in the use SPACs as capital-raising vehicles.</p>\n<p>In the past few months, biotech company Ginkgo Bioworks and SoftBank-backed mortgage startup Better HoldCo have announced multi-billion dollar deals with blank-check vehicles.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMSP Recovery to go public via $32.6 billion SPAC deal\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-12 19:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/msp-recovery-ipo/update-2-msp-recovery-to-go-public-via-32-6-bln-spac-deal-idUSL4N2OO194><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Reuters) -MSP Recovery, which offers services to recover money from Medicare and Medicaid secondary payments, agreed to go public through a merger with a blank-check firm, giving the combined company...</p>\n\n<a href=\"https://www.reuters.com/article/msp-recovery-ipo/update-2-msp-recovery-to-go-public-via-32-6-bln-spac-deal-idUSL4N2OO194\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.reuters.com/article/msp-recovery-ipo/update-2-msp-recovery-to-go-public-via-32-6-bln-spac-deal-idUSL4N2OO194","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187828386","content_text":"(Reuters) -MSP Recovery, which offers services to recover money from Medicare and Medicaid secondary payments, agreed to go public through a merger with a blank-check firm, giving the combined company an enterprise value of $32.6 billion.\nThe deal with Lionheart Acquisition Corp II is expected to fetch $230 million in proceeds for MSP, it said on Monday.\nFlorida-based MSP, led by billionaire entrepreneur John Ruiz, specializes in recovery of Medicare and Medicaid payments. 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