8-K
filed June 21, 2022, 7:59 PM ET
ticker SBIG
CIK 0001801602
M&A
confidence high
sentiment neutral
materiality 0.75
SpringBig completes SPAC merger with Tuatara; stock now trades as SBIG on Nasdaq
SpringBig Holdings, Inc.
- Completed business combination with Tuatara (TCAC); renamed SpringBig Holdings, Inc. Common and warrants trade as SBIG/SBIGW on Nasdaq.
- 19.1M public shares redeemed at ~$10.01/share ($191.4M); only 876k non-redeemed shares; trust leftover ~$8.77M.
- PIPE: 1.31M shares at $10.00/share ($13.1M gross). Also issued $11M convertible note (6%, due 2024) with warrant for 586,980 shares at $12.00.
- Sponsor deposited 1M earnout shares; release if stock ≥$12 for 20 of 30 days within 5 years.
- Top holders: Medici Holdings 18.8%, Tuatara Capital 13.8%, TVC Capital 10.0%, Altitude 6.0%, Gamson 5.2%.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jeffrey Harris was appointed as CEO of New SpringBig at SpringBig Holdings, Inc..
- Action
- appointed
- Role
- CEO of New SpringBig
Exact text from the filing
Additionally, employment agreements with Jeffrey Harris, CEO of New SpringBig, and Paul Sykes, CFO of New SpringBig, became effective as of the Closing.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jeffrey Bornstein resigned as director at SpringBig Holdings, Inc..
- Action
- resigned
Exact text from the filing
At Closing, all incumbent directors and officers of Tuatara, Albert Foreman, Mark Zittman, Sergey Sherman, Jeffrey Bornstein, Michael Finkelman, Richard Taney, resigned.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Albert Foreman resigned as director at SpringBig Holdings, Inc..
- Action
- resigned
Exact text from the filing
At Closing, all incumbent directors and officers of Tuatara, Albert Foreman, Mark Zittman, Sergey Sherman, Jeffrey Bornstein, Michael Finkelman, Richard Taney, resigned.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Richard Taney resigned as director at SpringBig Holdings, Inc..
- Action
- resigned
Exact text from the filing
At Closing, all incumbent directors and officers of Tuatara, Albert Foreman, Mark Zittman, Sergey Sherman, Jeffrey Bornstein, Michael Finkelman, Richard Taney, resigned.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Michael Finkelman resigned as director at SpringBig Holdings, Inc..
- Action
- resigned
Exact text from the filing
At Closing, all incumbent directors and officers of Tuatara, Albert Foreman, Mark Zittman, Sergey Sherman, Jeffrey Bornstein, Michael Finkelman, Richard Taney, resigned.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Sergey Sherman resigned as director at SpringBig Holdings, Inc..
- Action
- resigned
Exact text from the filing
At Closing, all incumbent directors and officers of Tuatara, Albert Foreman, Mark Zittman, Sergey Sherman, Jeffrey Bornstein, Michael Finkelman, Richard Taney, resigned.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Paul Sykes was appointed as CFO of New SpringBig at SpringBig Holdings, Inc..
- Action
- appointed
- Role
- CFO of New SpringBig
Exact text from the filing
Additionally, employment agreements with Jeffrey Harris, CEO of New SpringBig, and Paul Sykes, CFO of New SpringBig, became effective as of the Closing.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Mark Zittman resigned as director at SpringBig Holdings, Inc..
- Action
- resigned
Exact text from the filing
At Closing, all incumbent directors and officers of Tuatara, Albert Foreman, Mark Zittman, Sergey Sherman, Jeffrey Bornstein, Michael Finkelman, Richard Taney, resigned.
View on SEC.gov
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