SpringBig Holdings: Jeffrey Harris Amends 13D Filing
Ticker: SBIGW · Form: SC 13D/A · Filed: Jan 30, 2024 · CIK: 1801602
| Field | Detail |
|---|---|
| Company | Springbig Holdings, Inc. (SBIGW) |
| Form Type | SC 13D/A |
| Filed Date | Jan 30, 2024 |
| Risk Level | low |
| Pages | 7 |
| Reading Time | 8 min |
| Key Dollar Amounts | $0.0001, $320,000, $0.15, $6.4 million |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: insider-filing, ownership-change, amendment
Related Tickers: SBIG
TL;DR
**Insider Jeffrey Harris updated his SpringBig (SBIG) ownership, watch for further details.**
AI Summary
Jeffrey Todd Harris, a significant shareholder in SpringBig Holdings, Inc. (NASDAQ: SBIG), filed an amended Schedule 13D on January 30, 2024, updating his beneficial ownership. This filing, Amendment No. 3, indicates a change in his holdings or intentions regarding the company's common stock, par value $0.0001 per share. Investors should note this as it reflects the actions of a key insider, potentially signaling their confidence or concerns about the company's future direction.
Why It Matters
This filing updates the public on a significant insider's stake in SpringBig Holdings, which can influence investor sentiment and the stock's perception.
Risk Assessment
Risk Level: low — This filing is an update to an existing disclosure and does not inherently present new, significant risks to the company or its investors.
Analyst Insight
Investors should monitor subsequent amendments to this filing for specific details on changes in Jeffrey Harris's beneficial ownership or stated intentions, as these could provide insights into insider sentiment regarding SpringBig Holdings, Inc. (SBIG).
Key Players & Entities
- Jeffrey Todd Harris (person) — Reporting Person, significant shareholder of SpringBig Holdings, Inc.
- SpringBig Holdings, Inc. (company) — Subject Company, issuer of the common stock
- Medici Holdings V, Inc. (company) — Group Member associated with the filing
- $0.0001 (dollar_amount) — Par value per share of SpringBig Holdings common stock
FAQ
What is the purpose of an SC 13D/A filing?
An SC 13D/A is an amendment to a Schedule 13D filing, which is required when a person or group acquires beneficial ownership of more than 5% of a company's voting stock and intends to influence or control the company. The '/A' indicates an amendment to a previously filed statement, updating the information.
Who is the reporting person in this specific SC 13D/A filing?
The reporting person in this SC 13D/A filing is Jeffrey Todd Harris, whose business address is 621 NW 53rd Street, Ste. 260, Boca Raton, Florida, 33487.
What is the subject company of this filing?
The subject company is SpringBig Holdings, Inc., with a CIK of 0001801602 and a business address of 621 NW 53rd St, Suite 260, Boca Raton, FL 33487.
What is the CUSIP number for the class of securities mentioned in the filing?
The CUSIP number for the Common stock, par value $0.0001 per share, of SpringBig Holdings, Inc. is 85021Q 108.
When was the date of the event that required this filing?
The date of the event which required the filing of this statement was January 23, 2024.
Filing Stats: 2,045 words · 8 min read · ~7 pages · Grade level 11.2 · Accepted 2024-01-30 17:27:31
Key Financial Figures
- $0.0001 — ame of Issuer) Common stock, par value $0.0001 per share (Title of Class of Securitie
- $320,000 — 26 in the aggregate principal amount of $320,000 issued to Mr. Harris in a private place
- $0.15 — maturity date at a conversion price of $0.15 per share, subject to adjustment. (3)
- $6.4 million — er things, the sale of up to a total of $6.4 million of Convertible Notes in a private place
Filing Documents
- ef20020208_sc13da.htm (SC 13D/A) — 79KB
- 0001140361-24-004619.txt ( ) — 81KB
to Schedule 13D is amended to add the following text
Item 3 to Schedule 13D is amended to add the following text: On January 23, 2024, Mr. Harris purchased $320,000 in aggregate principal amount of Convertible Notes in cash paid from personal funds. Item 5. Interest in Securities of the Issuer This Amendment amends and restates Item 5 of the Original Schedule 13D in its entirety as set forth below: (a) – (b) As of the date hereof, Mr. Harris beneficially owns 8,094,090 shares of Common Stock, which represents approximately 17.4% of the Common Stock issued and outstanding. This beneficial ownership consists of (a) 952,272 shares of Common Stock owned outright, (b) 4,743,120 shares held by Medici Holdings, (c) 265,365 shares of Common Stock underlying fully vested stock options and (d) 2,133,333 shares of Common Stock of the Issuer issuable to Mr. Harris upon conversion of the Convertible Notes. With respect to Mr. Harris, the ownership percentage reported is based on a denominator that is the sum of (i) 44,053,502 shares of Common Stock outstanding as of November 12, 2023, as reported in the Quarterly Report, (ii) 265,365 Common Shares issuable upon the exercise of options by Mr. Harris and (iii) 2,133,333 shares of Common Stock issuable to Mr. Harris upon conversion of all of the Convertible Notes directly owned by Mr. Harris (without giving effect to any accrued and unpaid interest of 8% per annum that is payable by adding such interest to the outstanding amount owing under the Convertible Notes at the next semi-annual interest payment date). As of the date hereof, Medici Holdings beneficially owns 4,743,120 shares of Common Stock, which represents approximately 10.8% of the Common Stock issued and outstanding, based on 44,053,502 shares of Common Stock outstanding as of November 12, 2023, as reported in the Quarterly Report. (c) Other than as disclosed in this Amendment, each Reporting Person has not effected any transactions in the shares during the past 60 days. (d) To the best knowledge of each Reporting