Item 5. Market for Registrant’s Common Equity
Item 5 . Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities.
Market for our Common Stock and Warrants
Our Class A Common Stock is traded on the Nasdaq Stock Market under the ticker symbol “LIFW.”
Our Class V Common stock is not listed on any stock exchange nor traded on any public market.
Our Public Warrants are traded on the Nasdaq Stock Market under the ticker symbol “LIFWZ.”
Our New Warrants are traded on the Nasdaq Stock Market under the ticker symbol “LIFWW.”
Record Holders
As of December 31, 2023, there were approximately 82 stockholders of record of our Class A Common Stock and the closing price of our Class A Common Stock was $2.27 per share as reported on the Nasdaq Stock Market; there was approximately one holder of record of our Public Warrants, and there were approximately eight holders of record of our New Warrants. As many of our publicly traded securities are held by brokers and other institutions in street name on behalf of beneficial owners, we are unable to estimate the total number of holders for our securities that are represented by these record holders.
Dividend Policy
We have never declared or paid any cash dividends on our common stock. We currently anticipate that we will retain all of our future earnings for use in the operation of our business and to fund future growth and do not anticipate paying any cash dividends in the foreseeable future. Any future determination to declare cash dividends will be made at the discretion of our Board of Directors, subject to applicable law, and will depend on our financial condition, results of operations, capital requirements, general business conditions and other factors that our Board of Directors may deem relevant.
Unregistered Sales of Equity Securities
Palantir Technologies, Inc. (“Palantir”)
During the fiscal year ending December 31, 2023, the Company issued 452,598 unregistered shares of Class A Common Stock to Palantir, in exchange for services provided in reliance on Section 4(a)(2) of the U.S. Securities Act of 1933.
John H. Ruiz
Pursuant to a purchase agreement dated October 25, 2023, and as disclosed on his Form 4 dated October 26, 2023, on October 26, 2023, the Company issued 467,290 unregistered shares of Class A Common Stock to Virage in satisfaction of certain obligations of the Company, which shares were subsequently purchased from Virage by Mr. Ruiz. In addition, pursuant to a purchase agreement dated March 4, 2024, and as disclosed on his Form 4 dated March 4, 2024, the Company issued 438,596 unregistered shares of Class A Common Stock to Virage in satisfaction of certain obligations of the Company, which shares were subsequently purchased from Virage by Mr. Ruiz.
Frank C. Quesada
Pursuant to a purchase agreement dated September 25, 2023, and as disclosed on his Form 4 dated October 2, 2023, on September 29, 2023, the Company issued 274,726 unregistered shares of Class A Common Stock to Virage in satisfaction of certain obligations of the Company, which shares were subsequently purchased from Virage by Mr. Quesada.
Cano Health, LLC
Pursuant to the Second Amendment to Amended and Restated Claims Recovery and Assignment Agreement and the First Amendment to the Purchase Agreement by and among the Company and Cano, on July 7, 2023, the Company issued 7,960,001 unregistered shares of Class A Common Stock to Cano.
Virage Warrants
Pursuant to the MTA Amendment, on December 22, 2023, the Company agreed to issue to Virage an initial warrant on January 1, 2024, entitling Virage to purchase 28,298,329 shares of Class A Common Stock, with an exercise price of $0.0001 per share and an expiration date of January 1, 2026. On April 1, 2024, the Company issued Virage: (i) a warrant entitling Virage to purchase 8,263,494 shares of Class A Common Stock, with an exercise price of $0.0001 per share and an expiration date of February 1, 2026; (ii) a warrant entitling Virage to purchase 11,955,994 shares of Class A Common Stock, with an exercise price of $0.0001 per share and an expiration date of March 1, 2026; and (iii) a warrant entitling Virage to purchase 13,556,181 shares of Class A Common Stock, with an exercise price of $0.0001 per share and an expiration date of April 1, 2026.
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Issuer Purchases of Equity Securities
None.
Item 6 . [Reserved]
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