SpringBig announced today it has completed its business combination with Tuatara Capital Acquisition.
SpringBig Holdings stock and warrants begins trading today on the Nasdaq under ticker symbols SBIG and SBIGW.
The company bills itself as the largest customer loyalty and marketing platform in the cannabis industry and “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 solutions designed to increase customer retention, build customer loyalty, and boost brand awareness through digital marketing and communications, and reporting and analytics.
While the deal was valued at $500 million when announced last November, Tuatara restruck terms of the merger agreement twice, lowering the valuation to $275 million last month. Redemptions were heavy ahead of the SPAC’s June 9 shareholder vote. Read more.
