secwatch.observer — SEC 8-K summary
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Issuer:     SpringBig Holdings, Inc. (SBIG)
CIK:        0001801602
Form:       8-K
Filed at:   2023-05-26T23:59:59+00:00
Accession:  0001801602-23-000046
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1801602/000180160223000046/0001801602-23-000046-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1801602/000180160223000046/form8-kxl1amendment4.htm
  HTML page:      https://secwatch.observer/filing/0001801602-23-000046

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