---
schema_version: "secwatch.filing_event.v1"
accession: "0001801602-23-000042"
form_type: "8-K"
ticker: "SBIG"
cik: "0001801602"
company_name: "SpringBig Holdings, Inc."
filed_at: "2023-05-25T23:59:59+00:00"
generated_at: "2026-06-14T14:49:55.078182+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# SpringBig amends convertible note with L1 Capital; payment schedule reset, conversion price $1.00

## Summary
- Immediate $100k principal payment on May 25, 2023; $750k upon closing of $5.5M May 2023 offering.
- Investor L1 Capital to buy $1.5M securities in offering ($250k cash, $1.25M debt reduction).
- Maturity date extended to earlier of final payment or March 5, 2025; conversion/warrant price set at $1.00/share.
- Monthly principal payments from June 2023 to March 2024 ($50k-$200k) then $386k/month starting April 2024.
- Waives prior payment default and registration lapse; resale volume capped at 15% of 5-day average.

## SEC filing metadata
- accession: 0001801602-23-000042
- form_type: 8-K
- ticker: SBIG
- cik: 0001801602
- company_name: SpringBig Holdings, Inc.
- filed_at: 2023-05-25T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1801602/000180160223000042/0001801602-23-000042-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1801602/000180160223000042/form8-kxl1amendment3.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001801602-23-000042
- JSON: https://secwatch.observer/filing/0001801602-23-000042.json
- Plain text: https://secwatch.observer/filing/0001801602-23-000042.txt

## Key facts
- Material Agreements
  SpringBig Holdings, Inc. amended Amendment No. 3 with L1 Capital Global Opportunities Master Fund valued at $100,000 (effective 2023-05-24).
  - Action: amendment
  - Agreement: equity purchase
  - Counterparty: L1 Capital Global Opportunities Master Fund
  - Value: $100,000
  - Effective: 2023-05-24
  source text: On May 24, 2023, SpringBig Holdings, Inc. (the “Company”) entered into an Amendment No. 3 (the “Third Amendment”) with L1 Capital Global Opportunities Master Fund (the “Investor”) to each of (i) the Securities Purchase Agreement
  evidence_url: https://www.sec.gov/Archives/edgar/data/1801602/000180160223000042/0001801602-23-000042-index.htm

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