SpringBig Holdings, Inc. entered into Purchase Agreement with certain purchasers, including the Insider Purchasers valued at approximately $2.5 million (effective 2023-05-26).
“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”
Material Agreements
SpringBig Holdings, Inc. amended Fourth Amendment with L1 Capital Global Opportunities Master Fund (effective 2023-05-25).
“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.”
Material Agreements
SpringBig Holdings, Inc. amended Third Amendment with L1 Capital Global Opportunities Master Fund valued at $1,500,000 (effective 2023-05-24).
“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”)”
Material Agreements
SpringBig Holdings, Inc. amended Amendment No. 3 with L1 Capital Global Opportunities Master Fund valued at $100,000 (effective 2023-05-24).
“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”
Listing & Compliance Notices
SpringBig Holdings, Inc. received a nasdaq delisting notice notice regarding market value (rules 5450(b)(2)).
“March 7, 2023, SpringBig Holdings, Inc. (the “Company”) received formal notice from the Listing Qualifications Staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company’s securities were subject to delisting due to the Company’s continued non-compliance with the minimum market value of listed securities (“MVLS”) requirement set forth in Nasdaq Listing Rule 5450(b)(2) (the “MVLS Rule”) unless the Company timely requests a hearing before the Nasdaq Hearings Panel (the “Panel”). The Company plans to timely request a hearing before the Panel, which request will stay”
Earnings Releases
SpringBig Holdings, Inc. reported the fourth quarter and full year ended December 31, 2022 results: revenue $6.8 million, net income $(4.5) million, EPS $(0.17). Guidance reaffirmed.
“industry, today announced its financial results for the fourth quarter and full year ended December 31, 2022. Fourth Quarter 2022 Financial Highlights: • Revenue* increased to $6.8 million, up 2% year-on-year • Subscription revenue was up 33% year-on-year • Net dollar retention rate was 105% for the twelve months ended December 31, 2022 • Gross profit was $5.3”
Material Agreements
SpringBig Holdings, Inc. amended Amendment No. 2 with L1 Capital Global Opportunities Master Fund (effective 2022-12-28).
“On December 28, 2022, SpringBig Holdings, Inc. (the “Company”) entered into an Amendment No. 2 (the “Second Amendment”) to each of the Senior Secured Original Issue Discount Convertible Promissory Note, dated June 14, 2022 (the “Note”) made by the Company in favor of L1 Capital Global Opportunities Master Fund, a Cayman Islands business organization (the “Holder”), and the Securities Purchase Agreement, dated April 29, 2022 between the Company and the Holder (the “Purchase Agreement”).”
Listing & Compliance Notices
SpringBig Holdings, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5450(a)(1)).
“December 20, 2022, the Company received a letter from the staff (the “Staff”) of The Nasdaq Stock Market LLC (“ Nasdaq ”) providing notification that, for the previous 30 consecutive business days, the bid price for the Company’s common stock had closed below the $1.00 per share minimum bid price requirement for continued listing under Nasdaq Listing Rule 5450(a)(1). The notice has no immediate effect on the listing of the Company’s common stock or warrants, and its common stock and warrants will continue to trade on The Nasdaq Global Market under the symbol “SBIG” and “SBIGW” respectively. In”
Material Agreements
SpringBig Holdings, Inc. amended Amendment with L1 Capital Global Opportunities Master Fund valued at $1,000,000 (effective 2022-12-01).
“On December 1, 2022, SpringBig Holdings, Inc. (the “Company”) entered into an Amendment (the “Amendment”) to the Senior Secured Original Issue Discount Convertible Promissory Note, dated June 14, 2022 (the “Note”) made by the Company in favor of L1 Capital Global Opportunities Master Fund, a Cayman Islands business organization (the “Holder”), and the Securities Purchase Agreement, dated April 29, 2022 (the “Purchase Agreement”) between the Company and the Holder.”
Earnings Releases
SpringBig Holdings, Inc. reported the third quarter of 2022 results: revenue $7.4 million, EPS $(0.12) per share. Guidance initiated.
“goal of reaching the milestone of positive EBITDA during 2023.” Third Quarter 2022 Financial and Key Metric Highlights • Total revenue in the third quarter of 2022 increased to $7.4 million, up 22% from the third quarter of 2021 and up 13% from the second quarter of 2022. • Subscription revenue increased 48% from the third quarter of 2021 and was up 9% from the”
Paul Sykes was appointed as CFO of New SpringBig at SpringBig Holdings, Inc..
“Additionally, employment agreements with Jeffrey Harris, CEO of New SpringBig, and Paul Sykes, CFO of New SpringBig, became effective as of the Closing.”
Jeffrey Harris was appointed as CEO of New SpringBig at SpringBig Holdings, Inc..
“Additionally, employment agreements with Jeffrey Harris, CEO of New SpringBig, and Paul Sykes, CFO of New SpringBig, became effective as of the Closing.”
Richard Taney resigned as director at SpringBig Holdings, Inc..
“At Closing, all incumbent directors and officers of Tuatara, Albert Foreman, Mark Zittman, Sergey Sherman, Jeffrey Bornstein, Michael Finkelman, Richard Taney, resigned.”
Michael Finkelman resigned as director at SpringBig Holdings, Inc..
“At Closing, all incumbent directors and officers of Tuatara, Albert Foreman, Mark Zittman, Sergey Sherman, Jeffrey Bornstein, Michael Finkelman, Richard Taney, resigned.”
Jeffrey Bornstein resigned as director at SpringBig Holdings, Inc..
“At Closing, all incumbent directors and officers of Tuatara, Albert Foreman, Mark Zittman, Sergey Sherman, Jeffrey Bornstein, Michael Finkelman, Richard Taney, resigned.”
Sergey Sherman resigned as director at SpringBig Holdings, Inc..
“At Closing, all incumbent directors and officers of Tuatara, Albert Foreman, Mark Zittman, Sergey Sherman, Jeffrey Bornstein, Michael Finkelman, Richard Taney, resigned.”
Mark Zittman resigned as director at SpringBig Holdings, Inc..
“At Closing, all incumbent directors and officers of Tuatara, Albert Foreman, Mark Zittman, Sergey Sherman, Jeffrey Bornstein, Michael Finkelman, Richard Taney, resigned.”
Albert Foreman resigned as director at SpringBig Holdings, Inc..
“At Closing, all incumbent directors and officers of Tuatara, Albert Foreman, Mark Zittman, Sergey Sherman, Jeffrey Bornstein, Michael Finkelman, Richard Taney, resigned.”
Michael Finkelman was appointed as Director and Audit Committee Chair at SpringBig Holdings, Inc..
“On August 27, 2021, our board of directors (the “Board”) appointed Michael Finkelman as a member of our board of directors, as a member of the compensation and nominating committees of the Board, and as chair of the audit committee of the Board.”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.