SBIG - SpringBig Holdings stock plummets on pricing of $4M public offering
2023-05-26 11:37:02 ET
- SpringBig Holdings ( NASDAQ: SBIG ) has announced the pricing of public offering of ~13.06M shares of its common stock at an at-the-market price of $0.3037.
- Additionally, ~$1M of the Co.’s existing Senior Secured Convertible Note, held by L1 Capital Global Opportunities will be cancelled in exchange for shares in the offering at the offering price.
- The gross cash proceeds to the Co. from the offering are expected to be ~$3M.
- The Co. intends to use the net proceeds from this offering for working capital and general corporate purposes.
- The closing of the offering is expected to occur on or about May 31, 2023.
- SBIG is -20.38% to $0.25.
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SpringBig Holdings stock plummets on pricing of $4M public offering