springbig, the Largest Loyalty and Marketing Automation Platform to Serve the Cannabis Industry, to List on Nasdaq Through Merger with Tuatara Capital Acquisition Corp.

PRNewswire

Nov 09, 2021

- springbig's software platform provides unparalleled customer loyalty and engagement products to leading cannabis retailers and brands across North America

- High growth B2B SaaS business model driven by highly differentiated customer experience offerings, with multiple platform expansion opportunities to add to impressive organic growth trajectory

- The merger accelerates springbig's vision to serve cannabis brands by consolidating a highly fragmented cannabis technology ecosystem across loyalty, data analytics, advertising, and other areas influencing consumer experience and marketing effectiveness

- Estimated post-transaction equity value of the combined company is approximately $500 million, with approximately $200 million cash on hand after closing

-Transaction includes $13 million fully committed Class A common stock PIPE anchored by Tuatara Capital and existing investors, including TVC Capital, Key Investment Partners, and springbig's Founder and CEO Jeffrey Harris

- springbig's existing stockholders are contributing 100% of their equity into the combined company

PR Newswire

NEW YORK, Nov. 9, 2021

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