secwatch.observer — SEC 8-K summary
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Issuer:     SpringBig Holdings, Inc. (SBIG)
CIK:        0001801602
Form:       8-K
Filed at:   2022-06-21T23:59:59+00:00
Accession:  0001140361-22-023538
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.01, 9.01, 5.02, 3.02, 4.01, 2.03, 3.03, 5.01, 5.03, 5.05, 5.06, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

SpringBig completes SPAC merger with Tuatara; stock now trades as SBIG on Nasdaq
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- 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%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1801602/000114036122023538/0001140361-22-023538-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1801602/000114036122023538/brhc10038924_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-023538

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer