MSP Recovery, Inc. Floor Price Adjustment Notice to Yorkville Advisors Global, LP
MSP Recovery, Inc. notifies Yorkville Advisors Global, LP that the floor price for shares under their Exchangeable Promissory Notes, as defined in their Standby Equity Purchase Agreement dated November 14, 2023, is reduced to $0.15 per share effective August 13, 2024. Both parties acknowledge and agree to this adjustment. This change affects the minimum price at which shares may be exchanged under the agreement.
Exhibit 10.13
August 13, 2024
VIA EMAIL
Yorkville Advisors Global, LP
1012 Springfield Avenue
Mountainside, New Jersey 07092
Attention: David Fine, Esq.
Re: MSP Recovery, Inc. Floor Price Adjustment
Dear Mr. Fine:
Reference is made to the Exchangeable Promissory Notes (“Notes”) issued pursuant to the Standby Equity Purchase Agreement dated November 14, 2023 by and between YA II PN, Ltd. (“Yorkville”) and MSP Recovery, Inc. (“MSP Recovery”).
This letter serves as written notice by MSP Recovery to Yorkville that, effective as of the date hereof, the Floor Price, as defined in paragraph (12)(t) of the Notes, shall be reduced to $0.15 per share.
Sincerely,
_______________________
Name: John H. Ruiz
Title: Chief Executive Officer
Acknowledged and agreed:
YA II PN, Ltd.
By: Yorkville Advisors Global, LP
Its: Investment Manager
By: Yorkville Advisors Global II, LLC
Its: General Partner
By:
_______________________
Name: Matthew Beckman
Title: Member
