SpringBig Holdings, Inc. 8K

SpringBig Holdings, Inc. transferred all loan collateral including its operating subsidiary SpringBig, Inc. to LS Round II, LLC in a debt-for-assets reorganization that eliminates about $12.5 million of defaulted secured obligations at the parent level while shifting the reduced debt to the subsidiary and granting broad mutual releases among the parties.

On July 13, 2026, SpringBig Holdings, Inc. entered into a Reorganization Agreement with its operating subsidiary SpringBig, Inc., its secured noteholders’ agent Shalcor Management Inc., Lightbank II, L.P., and LS Round II, LLC under newly amended Section 272(b) of the Delaware General Corporation Law to transfer all collateral, including 100% of the equity of SpringBig, Inc., to LS Round II, LLC in lieu of a foreclosure, in exchange for the full release of approximately $12.5 million of defaulted secured note obligations at the parent level, a $150,000 reduction of expenses, and $171,920.69 of cash consideration to the parent; simultaneously, SpringBig, Inc. assumed the reduced secured obligations as primary obligor, the lenders reaffirmed their liens on the operating company and obtained a pledge of its equity from LS Round II, and broad mutual releases were granted among the parent, subsidiary, noteholders, and specified management and advisors, while the parent retained responsibility for pre-closing taxes and committed, with the cooperation of the company and transferee, to complete required SEC periodic reports.

Filing Facts

CIK

1801602

Ticker

-

Form

8K

Source Type

sec

Accession

0001213900-26-078753

Alert Tier

8