LifeWallet announces 1-for-25 reverse stock split

MSP Recovery (LIFW), Inc. d/b/a LifeWallet will affect a reverse stock split of its Class A common stock at a reverse stock split ratio of 1-for-25, effective at 11:59 P.M. on November 15, 2024, in order to regain compliance with the minimum $1.00 bid price per share requirement of Nasdaq’s Marketplace Rule 5450(a)(1). LifeWallet’s Common Stock will continue to trade on the Nasdaq Global Market under the symbol “LIFW” and will begin trading on a split-adjusted basis when the Nasdaq opens on November 18, 2024. The new CUSIP number for the Class A common stock following the reverse split will be: 553745-30-8. The Company’s stockholders previously approved the reverse stock split and granted the Company’s board of directors the authority to determine the final reverse stock split ratio and when to proceed with the reverse stock split. The Company has filed an amendment to its Second Amended and Restated Certificate of Incorporation to affect the reverse stock split at the ratio of 1-for-25 as of the Effective Time.