SpringBig Holdings prices $4.0M best-efforts offering at $0.30/share; company nets ~$2.5M

Filed May 31, 2023 · ~1 min read

Key Changes

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  SpringBig is offering 13,061,014 shares at $0.30 per share in a best-efforts offering; the company's gross proceeds are $4.0M before fees.

  The Offering verify on EDGAR →
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  Net cash proceeds to the company are estimated at $2.5M after placement agent fees and expenses; $960,000 of L1 Notes will be cancelled for 3,161,014 shares.

  Use of Proceeds verify on EDGAR →
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  New investors face immediate dilution of $0.36 per share, as pro forma net tangible book value is $(0.05) per share after the offering.

  Dilution verify on EDGAR →