secwatch.observer — SEC 8-K summary
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Issuer:     SpringBig Holdings, Inc. (SBIG)
CIK:        0001801602
Form:       8-K
Filed at:   2023-06-01T23:59:59+00:00
Accession:  0001801602-23-000060
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 7.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1801602/000180160223000060/0001801602-23-000060-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1801602/000180160223000060/form8-kx4mequityclosed.htm
  HTML page:      https://secwatch.observer/filing/0001801602-23-000060

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer