---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-002466"
form_type: "8-K"
ticker: "SBIG"
cik: "0001801602"
company_name: "SpringBig Holdings, Inc."
filed_at: "2024-01-29T23:59:59+00:00"
generated_at: "2026-06-06T16:02:05.863686+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# SpringBig closes $8M debt financing; appoints new directors from lenders

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-24-002466
- form_type: 8-K
- ticker: SBIG
- cik: 0001801602
- company_name: SpringBig Holdings, Inc.
- filed_at: 2024-01-29T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1801602/000162828024002466/0001628280-24-002466-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1801602/000162828024002466/wdq-20240123.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-002466
- JSON: https://secwatch.observer/filing/0001628280-24-002466.json
- Plain text: https://secwatch.observer/filing/0001628280-24-002466.txt

## Key facts
- Executive change
  Matt Sacks was appointed as Class I director at SpringBig Holdings, Inc..
  - Action: appointed
  - Role: Class I director
  source text: the Board appointed Mr. Sacks as a Class I director of the Board
  evidence_url: https://www.sec.gov/Archives/edgar/data/1801602/000162828024002466/0001628280-24-002466-index.htm
- Executive change
  Jon Trauben resigned as Director at SpringBig Holdings, Inc..
  - Action: resigned
  - Role: Director
  source text: Phil Schwarz and Jon Trauben resigned as members of the Board
  evidence_url: https://www.sec.gov/Archives/edgar/data/1801602/000162828024002466/0001628280-24-002466-index.htm
- Executive change
  Phil Schwarz resigned as Director at SpringBig Holdings, Inc..
  - Action: resigned
  - Role: Director
  source text: Phil Schwarz and Jon Trauben resigned as members of the Board
  evidence_url: https://www.sec.gov/Archives/edgar/data/1801602/000162828024002466/0001628280-24-002466-index.htm
- Executive change
  Shawn Dym was appointed as Class II director at SpringBig Holdings, Inc..
  - Action: appointed
  - Role: Class II director
  source text: Mr. Dym as a Class II director of the Board
  evidence_url: https://www.sec.gov/Archives/edgar/data/1801602/000162828024002466/0001628280-24-002466-index.htm
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1801602/000162828024002466/0001628280-24-002466-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.