TCAC - TCAC STOCK NEWS

springbig reported a 22% year-over-year revenue increase to $6.4 million for Q1 2022, with a significant 66% growth in retail clients. The company achieved a gross margin of 71% and a net dollar retention rate of 107%. The business combination terms with Tuatara Capital Acquisition Corp (TCAC) have been amended, resulting in a reduced enterprise value of $275 million and a bonus pool for non-redeeming shareholders. TCAC shareholders are urged to vote before June 8, 2022.

On May 31, 2022, springbig announced its participation in the Jefferies Cannabis Summit on June 2, 2022, in New York. CEO Jeffrey Harris will speak at the cannabis technology panel at 9:45 a.m. ET, alongside CFO Paul Sykes, who will engage in one-on-one investor meetings. The company is a leader in SaaS-based marketing solutions for the cannabis sector, focusing on customer engagement through various channels. springbig is also preparing for a business combination with Tuatara Capital Acquisition Corporation (NASDAQ: TCAC) expected to close in mid-June 2022.

Tuatara Capital Acquisition Corporation (NASDAQ: TCAC) has announced a Special Meeting of shareholders on June 9, 2022, to approve its business combination with springbig, a SaaS-based marketing solutions provider for the cannabis industry. The registration statement on Form S-4 was declared effective by the SEC, allowing the merger to proceed. Shareholders of record as of March 21, 2022, are eligible to vote. The merger is anticipated to close soon after shareholder approval, with TCAC expected to rebrand as SpringBig Holdings, Inc., trading under new ticker symbols SBIG and SBIGW.

SpringBig and Tuatara Capital Acquisition Corporation (TCAC) have amended their merger agreement, reducing the total enterprise value to $275 million, an 8% decrease from the initial valuation. To encourage public shareholders to retain their shares, a bonus pool of up to 1 million shares will be allocated to non-redeeming stockholders. Additionally, TCAC secured a $16 million convertible note and $50 million equity financing facility to support growth plans. The merger is expected to close mid-2022, contingent on shareholder approval and regulatory confirmations.

springbig announced a partnership with Tymber to launch an integrated loyalty rewards platform for cannabis retailers. This collaboration enables retailers to implement loyalty rewards and SMS marketing via their own websites and mobile apps, enhancing customer engagement. The integration aims to reduce reliance on third-party marketplaces, allowing businesses to control their marketing channels and e-commerce data. Jeffrey Harris, CEO of springbig, and Scott Roehrick, CEO of Tymber, emphasized that this partnership aims to foster direct customer relationships, ultimately driving sales and improving operational efficiency.

Tuatara Capital Acquisition Corporation (NASDAQ: TCAC) has filed a registration statement on Form S-4 with the SEC, marking a significant step towards its merger with springbig, a leader in cannabis marketing solutions. The filing includes a preliminary proxy statement and prospectus detailing the merger terms and company overview. Expected to finalize in H1 2022, pending shareholder approval and regulatory clearances, the combined entity will operate under the name springbig and trade under the new symbol "SBIG" on NASDAQ, aiming for sustainable growth in the evolving cannabis market.

Tuatara Capital Acquisition Corporation (NASDAQ: TCAC) has submitted a confidential draft registration statement to the SEC regarding its proposed business combination with springbig, a leading provider of marketing solutions in the cannabis industry. The merger is subject to shareholder approval and is expected to close in the first half of 2022, with the combined entity operating under the springbig name and trading under the symbol 'SBIG' on NASDAQ. The announcement highlights springbig's role in enhancing customer engagement for cannabis retailers through innovative marketing strategies.

Tuatara Capital Acquisition Corporation (NASDAQ: TCAC) has announced a definitive agreement to merge with springbig, a leading cannabis marketing solutions provider. This transaction, aimed at making springbig a publicly listed company under the symbol 'SBIG', is expected to close in the first quarter of fiscal 2022. The merger values the combined entity at approximately $500 million and includes a $13 million PIPE investment. springbig serves over 1,000 clients across North America and has shown impressive growth, with a projected $24 million in revenue for 2021.