MSP Recovery Stock Spikes 86% On Restructuring Deal And Debt Reduction Plans

(RTTNews) - MSP Recovery Inc. (MSPR) soared 85.95 percent to $2.40 during Friday's trading, likely driven by investor enthusiasm following the company's restructuring announcement the previous day.

MSPR opened at $3.23 and traded between $2.22 and $3.53 on volume of 80.9 million shares, far surpassing its average of 279,000 on the Nasdaq. The stock has traded between $1.10 and $34.00 over the past 52 weeks.

The strategic term sheet outlines initiatives to reduce debt by $1.2 billion, secure $9.75 million in bridge funding, and focus operations on core recovery efforts through a new servicing entity.