secwatch.observer — SEC 8-K summary
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Issuer:     SpringBig Holdings, Inc. (SBIG)
CIK:        0001801602
Form:       8-K
Filed at:   2022-12-01T23:59:59+00:00
Accession:  0001801602-22-000046
Event type: debt
Sentiment:  neutral
Materiality: 0.55
LLM model:  deepseek-v4-flash:cloud@v2

SpringBig amends convertible note: $1M payments, deferred amortization, new conversion terms
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- Company made $1M principal payment on Dec 1, 2022, and will make another $1M on Jan 3, 2023.
- Remaining principal payments deferred until Dec 1, 2023; then monthly payments up to $375k until June 2, 2025.
- Conversion price before Dec 1, 2023: 80% of market price; monthly cap: greater of 25% of volume or $325k.
- After Dec 1, 2023, conversion price fixed at $12.00 per share, subject to adjustment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1801602/000180160222000046/0001801602-22-000046-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1801602/000180160222000046/form8-kxl1exhibit.htm
  HTML page:      https://secwatch.observer/filing/0001801602-22-000046

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