{"schema_version":"secwatch.filing_event.v1","accession":"0001801602-22-000048","form_type":"8-K/A","ticker":"SBIG","cik":"0001801602","company_name":"SpringBig Holdings, Inc.","filed_at":"2022-12-01T23:59:59+00:00","discovered_at":"2026-05-14T18:03:52.173823+00:00","generated_at":"2026-06-21T11:05:45.330186+00:00","sec_items":["1.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"SpringBig restructures $11M convertible note with L1 Capital, defers principal to Dec 2023","bullets":["Company to pay $1M immediately and another $1M on Jan 3, 2023 toward principal.","Remaining principal deferred until Dec 1, 2023; then monthly payments up to $375k with final maturity June 2, 2025.","Conversion price until Dec 1, 2023: 80% of Market Price, capped at 25% of monthly volume or $325k per month.","After Dec 1, 2023, conversion price fixed at $12.00 per share.","Interest remains payable per original note terms; $5k legal fees to be paid by company."],"urls":{"canonical":"https://secwatch.observer/filing/0001801602-22-000048","json":"https://secwatch.observer/filing/0001801602-22-000048.json","markdown":"https://secwatch.observer/filing/0001801602-22-000048.md","text":"https://secwatch.observer/filing/0001801602-22-000048.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1801602/000180160222000048/0001801602-22-000048-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1801602/000180160222000048/form8-kaxl1restructure.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-21T11:05:45.330186+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"67c11b8d8100fe3288728a797e52a8e3266706d9","claim":"SpringBig Holdings, Inc. amended Amendment with L1 Capital Global Opportunities Master Fund valued at $1,000,000 (effective 2022-12-01).","evidence_excerpt":"On December 1, 2022, SpringBig Holdings, Inc. (the “Company”) entered into an Amendment (the “Amendment”) to the Senior Secured Original Issue Discount Convertible Promissory Note, dated June 14, 2022 (the “Note”) made by the Company in favor of L1 Capital Global Opportunities Master Fund, a Cayman Islands business organization (the “Holder”), and the Securities Purchase Agreement, dated April 29, 2022 (the “Purchase Agreement”) between the Company and the Holder.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1801602/000180160222000048/0001801602-22-000048-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"L1 Capital Global Opportunities Master Fund"},{"label":"Value","value":"$1,000,000"},{"label":"Effective","value":"2022-12-01"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}