Springbig Holdings, Inc. (OTCQB:SBIG) has established preliminary criteria for potential acquisitions, business combinations and other strategic transactions. The company said it is reviewing opportunities involving established private companies, while no transaction has been agreed or completed.
Springbig is primarily considering businesses with enterprise values ranging from approximately $10 million to $50 million. The company said it is seeking established operating histories, experienced management teams and meaningful revenue or a clearly demonstrated path to commercialization.
Other stated criteria include scalable business models, identifiable growth opportunities, auditable financial records or the ability to complete a PCAOB-compliant audit, and management teams prepared to operate and grow a publicly traded company.
The company is open to opportunities across multiple industries. It said each proposal will be assessed according to its fundamentals, capital requirements, management team, growth prospects and potential to create long-term value for Springbig’s stockholders.
Springbig said it has begun reviewing multiple opportunities and is inviting qualified companies and their advisors to submit potential transactions. Submissions will be handled on a confidential and nonbinding basis.
The review follows the completion of Springbig’s recently announced reorganization and the elimination of approximately $12.5 million of secured debt. The company also cited its corporate structure and OTCQB quotation as factors in its consideration of potential transactions.
Depending on the structure and terms of any transaction, existing Springbig stockholders could retain a meaningful equity interest in a combined company. However, the company said there can be no assurance that stockholders will retain any particular ownership percentage.
Springbig stated that there is no assurance it will identify, enter into or complete a proposed transaction. It also said there can be no assurance that a potential transaction will fall within the indicated enterprise-value range, that any valuation can be assured, or that a transaction will increase the value or trading price of its common stock.
The company said statements concerning its review of opportunities, the possible size or valuation of a transaction, access to growth capital, stockholder ownership and potential value creation are forward-looking statements subject to risks and uncertainties. These include risks described in Springbig’s filings with the Securities and Exchange Commission. The company said it undertakes no obligation to update forward-looking statements except as required by law.
Springbig has set preliminary criteria for acquisitions, business combinations and other strategic transactions.
The company is primarily evaluating businesses with enterprise values ranging from approximately $10 million to $50 million.
Target companies should have established operations, experienced management and revenue or a clear path to commercialization.
Springbig said it is reviewing multiple opportunities and will consider confidential, nonbinding submissions from qualified companies and advisors.
No transaction has been agreed or completed, and the company gave no assurance that a proposed transaction will proceed or produce a particular stockholder outcome.
Springbig Holdings, Inc. (OTCQB:SBIG) has announced preliminary criteria for evaluating potential acquisitions, business combinations and other strategic transactions. It is actively reviewing opportunities, but the announcement does not state that a transaction has been agreed or completed.
The Company is primarily evaluating potential transactions involving businesses with enterprise values ranging from approximately $10 million to $50 million. The Company states that there can be no assurance that any potential transaction will fall within that indicated enterprise-value range.
Springbig is principally interested in private companies with established operating histories and experienced management teams, meaningful revenue or a clearly demonstrated path to commercialization, scalable business models and identifiable growth opportunities, auditable financial records or the ability to complete a PCAOB-compliant audit, and management teams committed to operating and growing a publicly traded company.
The Company says it will evaluate each potential transaction based on its fundamentals, capital requirements, management team, growth prospects and potential to create long-term value for Springbig’s stockholders. It is open to opportunities across multiple industries.
Springbig says it has already begun reviewing multiple opportunities and welcomes submissions from qualified companies and their advisors. Submissions will be reviewed on a confidential and nonbinding basis. The Company states that there can be no assurance that it will identify, enter into or complete any proposed transaction.
Depending upon the structure and terms of a transaction, Springbig’s existing stockholders could retain a meaningful equity interest in the combined company. However, the Company states that there can be no assurance that existing stockholders will retain any particular ownership percentage, or that any transaction will increase the value or trading price of its common stock.
The announcement follows the completion of the Company’s recently announced reorganisation and the elimination of approximately $12.5 million of secured debt. Andrew Glashow, Chief Executive Officer, said the Company believes its corporate structure, OTCQB quotation and elimination of approximately $12.5 million of secured debt provide a strong foundation for a potentially value-enhancing transaction. The release also states that no valuation can be assured and that forward-looking statements are subject to risks and uncertainties.