secwatch.observer — SEC 8-K summary
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Issuer:     SpringBig Holdings, Inc. (SBIG)
CIK:        0001801602
Form:       8-K
Filed at:   2023-09-13T23:59:59+00:00
Accession:  0001628280-23-032208
Event type: litigation
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SpringBig settles co-founder lawsuit; pays $525K and issues 1.7M shares
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- Cash payment of $525,170: $125,170 in 15 business days, then $40,000/month for 10 months.
- Issues 1,275,000 shares to Gross and 425,000 to Wright (total 1.7M shares) at par value $0.0001/share.
- Shares subject to 365-day lock-up; up to 850,000 may be sold after 181 days post-stipulation filing.
- 2017 License Agreement with Yuzz Buzz terminated upon full payment and share issuance.
- No admission of liability; each party bears own costs and fees.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1801602/000162828023032208/0001628280-23-032208-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1801602/000162828023032208/wdq-20230907.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-032208

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