SpringBig Holdings, Inc. (SBIG): debt financing — SpringBig receives default notice on $9.8M notes; disputes three claimed events of default

SpringBig Holdings, Inc.

Outstanding $1.6M 2024 Secured Term Notes and $8.2M 2024 Secured Convertible Notes as of Apr 27, 2026.
Notice alleges minimum cash covenant breach for Jan 2026; company says complied in Feb and March.
Company disputes claims of failure to consult and false litigation representations from over a year ago.
Noteholders have not accelerated or foreclosed; company has no assurance they won't.
Notice received April 21, 2026; company engaged with lead noteholders Shalcor and Lightbank.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SpringBig Holdings, Inc. reported a default on senior notes of approximately $1.6 million and $8.2 million, respectively with Shalcor Management, Inc. and Lightbank II, L.P. maturing January 2027.

Instrument: senior notes
Principal: approximately $1.6 million and $8.2 million, respectively
Counterparty: Shalcor Management, Inc. and Lightbank II, L.P.
Maturity: January 2027
Event: default

Exact text from the filing

exercise any other remedies provided therein. As of April 27, 2026, the outstanding amount of the 2024 Secured Term Notes and 2024 Secured Convertible Notes was approximately $1.6 million and $8.2 million, respectively. At this time, the holders of the Notes have not: (i) accelerated or demanded any payment of principal; (ii) foreclosed on all or any part of any

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SpringBig Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-26-048203

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