TCAC shareholders vote in favor of Business
Combination
Transaction expected to close on or around
June 14, 2022
BOCA
RATON, Fla., June 9, 2022
/PRNewswire/ -- springbig (the "Company"), a leading provider
of SaaS-based marketing solutions, consumer mobile app experiences,
and omnichannel loyalty programs to the cannabis industry, and
Tuatara Capital Acquisition Corporation (NASDAQ: TCAC) ("TCAC")
today announced that TCAC shareholders voted in favor of the
proposed business combination ("Business Combination") between TCAC
and the Company, among other proposals, at the special general
meeting of TCAC shareholders that took place today. The Business
Combination was approved by a vote of approximately 94% of the
shares voted, which represented approximately 74% of the
outstanding shares. A Form 8-K disclosing the full voting results
will be filed with the Securities and Exchange Commission. The
Business Combination is expected to close on or around June 14, 2022, subject to the satisfaction of
other closing conditions.
Upon closing of the Business Combination, TCAC intends to change
its name to SpringBig Holdings, Inc. and expects its common stock
and warrants to remain listed on the NASDAQ Global Select stock
market under the new ticker symbols "SBIG" and "SBIGW,"
respectively.
About springbig
springbig is a market-leading software platform providing
customer loyalty and marketing automation solutions to cannabis
retailers and brands in the U.S. and Canada. springbig's platform connects
consumers with retailers and brands, primarily through SMS
marketing, as well as emails, customer feedback system, and loyalty
programs, to support retailers' and brands' customer engagement and
retention. springbig offers marketing automation solutions that
provide for consistency of customer communication, thereby driving
customer retention and retail foot traffic. Additionally,
springbig's reporting and analytics offerings deliver valuable
insights that clients utilize to better understand their customer
base, purchasing habits and trends. For more information,
visit https://springbig.com/.
About Tuatara Capital Acquisition
Corporation
Tuatara Capital Acquisition Corporation is a blank check company
incorporated for the purpose of effecting a merger, amalgamation,
share exchange, asset acquisition, share purchaser, reorganization
or similar business combination with one or more businesses,
pursuing targets that are focused on businesses in the cannabis
industry that are compliant with all applicable laws and
regulations within the jurisdictions in which they are located or
operate. For more information, visit
https://tuataraspac.com/.
Investor Relations Contact
Courtney
Van Alstyne
MATTIO Communications
ir@mattio.com
Media
Contact
Phoebe
Wilson
MATTIO Communications
springbig@mattio.com
Forward-Looking
Statements
Certain statements contained in this press release constitute
"forward-looking statements" within the meaning of federal
securities laws. Forward-looking statements may include, but are
not limited to, statements with respect to (i) trends in the
cannabis industry and springbig market size, including with respect
to the potential total addressable market in the industry; (ii)
springbig's growth prospects; (iii) springbig's projected financial
and operational performance, including relative to its competitors;
(iv) new product and service offerings springbig may introduce in
the future; (v) the potential transaction, including the implied
enterprise value, the expected post-closing ownership structure and
the likelihood and ability of the parties to successfully
consummate the potential transaction; (vi) the risk that the
proposed business combination may not be completed in a timely
manner or at all, which may adversely affect the price of TCAC's
securities; (vii) the failure to satisfy the conditions to the
consummation of the proposed business combination, including the
approval of the proposed business combination by TCAC's
stockholders; (viii) the effect of the announcement or pendency of
the proposed business combination on TCAC's or springbig's business
relationships, performance, and business generally; (ix) the
outcome of any legal proceedings that may be instituted against
TCAC or springbig related to the definitive agreement or the
proposed business combination; (x) the ability to maintain the
listing of TCAC's securities on the NASDAQ; (xi) the price of
TCAC's securities, including volatility resulting from changes in
the competitive and highly regulated industry in which springbig
plans to operate, variations in performance across competitors,
changes in laws and regulations affecting springbig's business and
changes in the combined capital structure; (xii) the ability to
implement business plans, forecasts, and other expectations after
the completion of the proposed business combination, and identify
and realize additional opportunities; and (xiii) other statements
regarding springbig's and TCAC's expectations, hopes, beliefs,
intentions or strategies regarding the future. In addition, any
statements that refer to projections, forecasts or other
characterizations of future events or circumstances, including any
underlying assumptions, are forward-looking statements. The words
"anticipate," "believe," "continue," "could," "estimate," "expect,"
"intends," "outlook," "may," "might," "plan," "possible,"
"potential," "predict," "project," "should," "would," and similar
expressions may identify forward-looking statements, but the
absence of these words does not mean that a statement is not
forward-looking. Forward-looking statements are predictions,
projections and other statements about future events that are based
on current expectations and assumptions and, as a result, are
subject, are subject to risks and uncertainties. You should
carefully consider the risks and uncertainties described in the
"Risk Factors" section of TCAC's Annual Report on Form 10-K and
registration statement on Form S-4 (the "Registration Statement"),
the proxy statement/prospectus relating to the transaction, other
documents filed by TCAC from time to time with SEC, and any risk
factors made available to you in connection with TCAC, springbig
and the transaction. These forward-looking statements involve a
number of risks and uncertainties (some of which are beyond the
control of springbig and TCAC), and other assumptions, that may
cause the actual results or performance to be materially different
from those expressed or implied by these forward-looking
statements.
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SOURCE springbig