Springbig Completes Reorganization, Eliminating Approximately $12.5 Million of Secured Debt and Positioning SBIG to Explore Strategic Alternatives

Rhea-AI Summary

Springbig (OTCQB: SBIG) announced completion of a previously disclosed reorganization that transferred ownership of its former operating subsidiary to an entity designated by its secured lenders. In exchange, Springbig was fully released from approximately $12.5 million of principal and accrued interest under its secured notes.

The transaction separates the former operating subsidiary and its associated secured debt from the publicly traded parent, leaving Springbig as a streamlined, SEC-reporting company. Management said it is reviewing multiple strategic alternatives aimed at enhancing stockholder value, while cautioning there is no assurance on timing or successful completion.

Positive

• Approximately $12.5 million of secured debt and interest eliminated
• Former operating subsidiary and associated secured debt removed from public company
• Company now debt-free, streamlined SEC-reporting issuer evaluating strategic alternatives

Negative

• Former operating subsidiary transferred to lender-designated entity, reducing existing operations
• Outcome and timing of strategic alternatives review remain uncertain
• Value creation depends on future transactions with no completion assurance

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Company Reviewing Multiple Opportunities

BOCA RATON, Fla., Aug. 21, 2026 (GLOBE NEWSWIRE) -- SpringBig Holdings, Inc. (OTCQB: SBIG) (the “Company”) today provided an update regarding its recently completed reorganization and its ongoing review of strategic alternatives designed to create long-term value for stockholders.

Under the previously announced reorganization, the Company transferred ownership of its former operating subsidiary to an entity designated by its secured lenders. In connection with that transaction, the Company was fully released from approximately $12.5 million of principal and accrued interest owed under its secured notes.

The transaction separated the former operating subsidiary and its associated secured debt from the publicly traded parent company. As a result, the Company is now a streamlined, SEC-reporting issuer focused on pursing opportunities intended to increase stockholder value.

“We have completed the difficult but necessary work of separating the former operating subsidiary and eliminating approximately $12.5 million of secured debt,” said Andrew Glashow, Chief Executive Officer of SpringBig. “We believe the reorganized, debt-free company represents an attractive platform for opportunities that will benefit our stockholders.”

Mr. Glashow continued, “We are currently evaluating a number of strategic opportunities. We believe our current trading price does not adequately reflect the potential value of our newly reorganized company. While we believe we have promising alternatives, no assurance can be given regarding timing or successful completion.”

The Company intends to conduct a disciplined review process and will provide additional information regarding key milestones when it determines that disclosure is appropriate.

Forward-Looking Statements

This press release contains forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical fact included in this release are forward looking statements, including statements concerning the Company’s review of potential transactions, its ability to identify and complete a transaction, the anticipated timing of any announcement, and the potential creation of stockholder value. These forward-looking statements are based on current intentions, estimates, and projections, as well as management’s beliefs and certain assumptions made by management, which by their nature are inherently uncertain. Accordingly, readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks that are difficult to predict, including risks described in reports we file with the Securities and Exchange Commission, which are incorporated by reference herein. .

There can be no assurance that the Company will identify, enter into, or complete any proposed transaction, that any transaction will be completed within the anticipated timeframe, or that any transaction will be successful or increase the value or trading price of the Company’s common stock. Readers should review the risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement except as required by law.

Investor Contact

SpringBig Holdings, Inc.
Andrew Glashow, Chief Executive Officer
IR@springbig.com

FAQ

What did Springbig (OTCQB: SBIG) announce on August 21, 2026 about its reorganization?

Springbig announced it completed a reorganization that transferred its former operating subsidiary to an entity chosen by secured lenders. According to Springbig, this transaction fully released the company from about $12.5 million of secured note principal and accrued interest, separating that debt from the public company.

How much secured debt did Springbig (SBIG) eliminate through its reorganization?

Springbig eliminated approximately $12.5 million of principal and accrued interest under its secured notes. According to Springbig, this followed the transfer of its former operating subsidiary to a lender-designated entity, removing the related secured debt from the publicly traded parent company’s balance sheet.

What is Springbig’s business focus after divesting its former operating subsidiary?

After transferring its former operating subsidiary, Springbig describes itself as a streamlined, SEC-reporting issuer. According to Springbig, the reorganized, debt-free company is now focused on pursuing strategic opportunities that it believes could enhance long-term stockholder value, subject to successful execution.

Is Springbig (SBIG) currently evaluating strategic alternatives for shareholders?

Springbig is actively reviewing multiple strategic opportunities intended to increase stockholder value. According to Springbig, it plans a disciplined review process and will disclose additional information about key milestones when it decides that further public communication regarding these potential alternatives is appropriate.

Does Springbig guarantee a successful outcome from its strategic review process?

Springbig does not guarantee a successful outcome or specific timing for its strategic review. According to Springbig, while it believes it has promising alternatives, no assurance can be given regarding the timing or successful completion of any potential transaction or opportunity under consideration.

How might Springbig’s current trading price relate to its reorganization and strategy?

Springbig’s management believes the current trading price does not fully reflect the potential value of the reorganized company. According to Springbig, the debt-free structure and ongoing review of strategic opportunities are intended to create long-term value, though outcomes remain uncertain.