Holland & Knight's Healthcare Team Advises SPAC on Regulatory Issues Related to Combination with MSP Recovery LLC and $32.6 Billion IPO
MIAMI (July 20, 2021) – Holland & Knight served as special regulatory counsel for Lionheart Acquisition Corp. II (Nasdaq: LCAP), a special purpose acquisition company (SPAC), advising on specific healthcare regulatory issues in connection with Lionheart's public offering, through acquisition, of MSP Recovery LLC. Once the deal is finalized, the combined company will be valued at $32.6 billion. The agreement was announced on July 12 and is expected to be completed in the fourth quarter of 2021. Upon closing, at that valuation, the transaction would be one of the top three largest SPAC transactions ever.
Based in Coral Gables, Fla., MSP uses innovative data-driven solutions to recover improperly paid benefits on behalf of Medicare, Medicaid, commercial payers, hospitals and physician groups. MSP is currently pursuing more than $50 billion in claims against insurance companies which should have paid those claims in the first place as required by law. The proceeds from the deal will be used to fund operations and growth.
Holland & Knight Partner Maria Currier, who co-chairs the firm's national Healthcare & Life Sciences Industry Group, led the team comprised of Partners Shannon Hartsfield and Eddie Williams, Senior Counsel Dan Silverboard, and Associates Grant Schnell and Sakinah Jones.
More information about the deal can be found here.
Holland & Knight's Healthcare & Life Sciences Team includes more than 150 lawyers and professionals who assist a full range of industry participants, from providers, payors and networks to manufacturers, distributors and suppliers, in all aspects of their operations. Our members are on the leading edge of industry developments, advising clients in areas such as compliance, litigation and dispute resolution, healthcare reform, regulatory law, legislative action, corporate, tax and general transactional issues.