Your World of Legal Intelligence
 United Kingdom | +44 (0) 20 7284 8080

Cannabis Loyalty and Marketing Automation Platform Springbig Closes Merger with SPAC.

Document Cited in Related
Vincent

MANews-(C)2009-2022

US-based cannabis industry loyalty and marketing automation platform provider springbig and Tuatara Capital Acquisition Corp. have completed a business combination, the companies said.

The Business Combination was approved at a special general meeting of TCAC shareholders on June 9, 2022. In connection with the closing of the business combination, TCAC has changed its name to SpringBig Holdings, Inc.

The ticker symbols for TCAC's common stock and warrants have been changed to "SBIG" and "SBIGW," respectively, and will begin trading Wednesday on the NASDAQ Global Market.

Springbig is the largest customer loyalty and marketing platform in the cannabis industry and is the provider of choice and trusted partner to many leading cannabis retailers and brands across North America.

The company serves over 1,300 clients with more than 2,400 retail locations, through its suite of category-leading solutions designed to increase customer retention, build customer loyalty, and boost brand awareness through digital marketing and communications and industry-leading reporting and analytics.

The company and TCAC also announced the issuance of USD 11m in aggregate principal amount of senior secured convertible notes to a global institutional investor, pursuant to the terms of the previously announced financing transaction.

As of the closing of the merger, the previously announced bonus shares have been delivered to non-redeeming shareholders, with each such shareholder receiving one bonus share for each non-redeeming share and a corresponding...

To continue reading

Request your trial
COPYRIGHT Normans Media Ltd.

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT