---
schema_version: "secwatch.filing_event.v1"
accession: "0001801602-23-000060"
form_type: "8-K"
ticker: "SBIG"
cik: "0001801602"
company_name: "SpringBig Holdings, Inc."
filed_at: "2023-06-01T23:59:59+00:00"
generated_at: "2026-06-14T09:37:03.317997+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# SpringBig closes $4M public offering; guides Q2 revenue $7.3-7.6M

## Summary
- Raised ~$3.0M gross cash from 13.06M shares at $0.3037; $1.0M convertible note cancelled for shares.
- Insider purchasers: CEO Jeff Harris ($200K), CFO Paul Sykes ($50K), and other directors.
- Q2 2023 guidance: revenue $7.3-7.6M (15% YoY growth at midpoint); Adj EBITDA loss $(0.9)-(1.2)M.
- Cost cuts reduce annualized opex to ~$25M (30% below H2 2022 run-rate); expects positive Adj EBITDA in Q3 2023.
- Note balance reduced to $6.0M; $0.5M due in H2 2023, balance payable by March 2025.

## SEC filing metadata
- accession: 0001801602-23-000060
- form_type: 8-K
- ticker: SBIG
- cik: 0001801602
- company_name: SpringBig Holdings, Inc.
- filed_at: 2023-06-01T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 7.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1801602/000180160223000060/0001801602-23-000060-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1801602/000180160223000060/form8-kx4mequityclosed.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001801602-23-000060
- JSON: https://secwatch.observer/filing/0001801602-23-000060.json
- Plain text: https://secwatch.observer/filing/0001801602-23-000060.txt

## Key facts
- Material Agreements
  SpringBig Holdings, Inc. entered into Purchase Agreement with certain purchasers, including the Insider Purchasers valued at approximately $2.5 million (effective 2023-05-26).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: certain purchasers, including the Insider Purchasers
  - Value: approximately $2.5 million
  - Effective: 2023-05-26
  source text: On May 26, 2023, SpringBig Holdings, Inc. (the “Company”), entered into a placement agency agreement (the “Placement Agency Agreement”) with Roth Capital Partners, LLC (the “Placement Agent”) and a securities purchase agreement (the “Purchase Agreement”) with certain purchasers, including the Insider Purchasers (as defined below) for the purchase and sale, in a registered public offering by the Company (the “Offering”) of 13,061,014 shares of its common stock, par value $0.0001 per share (“Common Stock”) at an at-the-market public offering price of $0.3037 per share, resulting in net cash proceeds to the Company of approximately $2.5 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1801602/000180160223000060/0001801602-23-000060-index.htm
- Material Agreements
  SpringBig Holdings, Inc. entered into Placement Agency Agreement with Roth Capital Partners, LLC (effective 2023-05-26).
  - Action: entry
  - Agreement: underwriting
  - Counterparty: Roth Capital Partners, LLC
  - Effective: 2023-05-26
  source text: On May 26, 2023, SpringBig Holdings, Inc. (the “Company”), entered into a placement agency agreement (the “Placement Agency Agreement”) with Roth Capital Partners, LLC (the “Placement Agent”) and a securities purchase agreement (the “Purchase Agreement”) with certain purchasers
  evidence_url: https://www.sec.gov/Archives/edgar/data/1801602/000180160223000060/0001801602-23-000060-index.htm

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