8-K
filed January 29, 2024, 6:59 PM ET
ticker SBIG
CIK 0001801602
debt
confidence high
sentiment neutral
materiality 0.75
SpringBig closes $8M debt financing; appoints new directors from lenders
SpringBig Holdings, Inc.
- Issued $6.4M of 8% Senior Secured Convertible Notes due 2026 and $1.6M of 12% Senior Secured Term Notes due 2026.
- Matt Sacks (Lightbank Co-Managing Partner) and Shawn Dym (Shalcor Managing Director) join board as Class I and II directors.
- Phil Schwarz and Jon Trauben resigned from board effective Jan. 23, 2024; no disagreements cited.
- Shawn Dym replaces Jon Trauben as Audit Committee Chair.
- Board now comprises Jeffrey Harris, Sergey Sherman, Matt Sacks, and Shawn Dym.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.9
Matt Sacks was appointed as Class I director at SpringBig Holdings, Inc..
- Action
- appointed
- Role
- Class I director
Exact text from the filing
the Board appointed Mr. Sacks as a Class I director of the Board
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jon Trauben resigned as Director at SpringBig Holdings, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
Phil Schwarz and Jon Trauben resigned as members of the Board
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Phil Schwarz resigned as Director at SpringBig Holdings, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
Phil Schwarz and Jon Trauben resigned as members of the Board
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.9
Shawn Dym was appointed as Class II director at SpringBig Holdings, Inc..
- Action
- appointed
- Role
- Class II director
Exact text from the filing
Mr. Dym as a Class II director of the Board
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
SpringBig Holdings, Inc. entered into Director Nomination Agreement with Shalcor Management, Inc. and Lightbank II, L.P. (effective 2024-01-23).
- Action
- entry
- Counterparty
- Shalcor Management, Inc. and Lightbank II, L.P.
- Effective
- 2024-01-23
Exact text from the filing
In connection with the closing of the notes, the Company entered into a Director Nomination Agreement (“Nomination Agreement”) on the Closing Date with Shalcor Management, Inc., an Alberta corporation (“Shalcor”), and Lightbank II, L.P., a Delaware limited partnership (“Lightbank” and, together with Shalcor, the “Investors”), each of which is a Purchaser.
View on SEC.gov
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