CF Principal Investments LLC - May 24, 2022 Form 3 Insider Report for MSP Recovery, Inc. (LIFW)

Role
10%+ Owner
Signature
/s/ Howard Lutnick
Stock symbol
LIFW
Transactions as of
May 24, 2022
Transactions value $
$0
Form type
3
Date filed
6/1/2022, 04:46 PM

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding LIFW Class A Common Stock, par value $0.0001 per share 1.13M May 24, 2022 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding LIFW Warrants to purchase Class A Common Stock May 24, 2022 Class A Common Stock 133M $11.50 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Notwithstanding the terms of the warrants, as described in the issuer's Form 8-K filed on May 18, 2022, CFPI has irrevocably agreed to transfer the warrants to the Issuer for cancellation and has no exercise rights with respect thereto.
F2 Under the terms of the New Warrant Agreement governing the warrants, the form of which is attached as Exhibit M to the Issuer's proxy statement filed on May 3, 2022, the warrants expire at 5:00 p.m., New York City time on the earlier to occur of: (x) the date that is five (5) years after the date on which the Company completes the Business Combination, (y) the liquidation of the Company, and (z) the Redemption Date. The foregoing capitalized terms have the meanings set forth in the New Warrant Agreement.

Remarks:

CF Principal Investments, LLC ("CFPI") is the record holder of the securities reported herein. CF Group Management, Inc. ("CFGM") is the managing general partner of Cantor Fitzgerald, L.P. ("Cantor") and directly or indirectly controls the managing general partner of CFS. Mr. Lutnick is Chairman and Chief Executive of CFGM and trustee of CFGM's sole stockholder. Cantor, indirectly, holds a majority of the ownership interests of Cantor Fitzgerald Securities ("CFS"), which is the managing member of CFPI. As such, each of CFS, Cantor, CFGM and Mr. Lutnick may be deemed to have beneficial ownership of the securities directly held by CFPI. Each such entity or person disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest they may have therein, directly or indirectly.