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
