SpringBig transfers SpringBig Inc. to secured lenders, exits about $12.5 million debt
SBIG•Reorganization transfers subsidiary equity to lenders
SpringBig Holdings entered a reorganization on July 13, 2026 that transferred its SpringBig subsidiary equity to Lightbank II and LS Round II.
The collateral transfer released the company from about $12.5 million of principal and accrued interest under its Senior Secured Convertible Promissory Note and Senior Secured Term Promissory Note.
Assets now controlled by transferee as company seeks strategic deal
Substantially all assets are now owned and controlled by the transferee, leaving the public company seeking a strategic business combination.
Failure to complete a strategic transaction could lead to a wind-down and dissolution.
