SpringBig Holdings amends L1 Capital note terms for up to $1.5M offering participation

SpringBig Holdings, Inc.

L1 Capital will purchase $1.5M of shares in the offering: $250k cash, $1.25M note principal reduction.
A 9.99% beneficial ownership cap may reduce the note reduction, creating a Special Note Amount.
Any Special Note Amount remains outstanding but convertible at the offering price per share.
Amendment becomes void if offering does not close by June 5, 2023, or raises under $3M or over $5.5M.
Fourth Amendment dated May 25, 2023 modifies the existing convertible note and warrant agreements.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SpringBig Holdings, Inc. amended Third Amendment with L1 Capital Global Opportunities Master Fund valued at $1,500,000 (effective 2023-05-24).

Action: amendment
Agreement: equity purchase
Counterparty: L1 Capital Global Opportunities Master Fund
Value: $1,500,000
Effective: 2023-05-24

Exact text from the filing

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”)

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SpringBig Holdings, Inc. amended Fourth Amendment with L1 Capital Global Opportunities Master Fund (effective 2023-05-25).

Action: amendment
Agreement: equity purchase
Counterparty: L1 Capital Global Opportunities Master Fund
Effective: 2023-05-25

Exact text from the filing

On May 25, 2023, the Company entered into an Amendment No. 4 (the “Fourth Amendment”) to each of the L1 Notes, the Investor Warrants and the Notes and Warrants Purchase Agreement.

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SpringBig Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001801602-23-000046

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