Lionheart Acquisition Corp. II Shareholders Approve SPAC Merger With MSP Recovery; Expected Close Date May 20, 2022

LCAP shareholders have approved the previously announced business combination at the Special Meeting held on May 18, 2022

Transaction Expected to Close May 20, 2022

CORAL GABLES, Fla.--(BUSINESS WIRE)-- Lionheart Acquisition Corporation II (NASDAQ:LCAPU, LCAP, LCAPW, &ldquo, Lionheart&rdquo, or &ldquo, LCAP&rdquo, ))), a publicly traded special purpose acquisition company, today announced that shareholders of record as of April 18, 2022 approved the previously announced business combination (the “Business Combination”) with MSP Recovery, LLC (“MSP Recovery” or “MSP”) a Medicare, Medicaid, commercial, and secondary payer reimbursement recovery leader.

Six proposals were considered and voted upon by LCAP’s stockholders at the special meeting, all of which were approved. The formal results of the vote will be included in a Current Report on Form 8-K to be filed by with the U.S. Securities and Exchange Commission by LCAP.

Pursuant to the Business Combination, at the closing, MSP will combine with LCAP and the combined company’s name will be MSP Recovery, Inc. Following the closing, the shares of Class A Common Stock of the combined company are anticipated to continue to be traded on Nasdaq under the symbol “MSPR” following the Closing. The combined company’s public warrants are anticipated to continue to be traded on Nasdaq under the symbol “LCAPW”, and the new warrants issued in connection with the previously announced and declared LCAP dividend are anticipated to commence trading on Nasdaq under the symbol “MSPRW” when issued. The business combination is expected to close on May 20, 2022.