Springbig seeks acquisitions valued between $10M and $50M

Springbig Holdings, Inc. (OTCQB: SBIG) has announced criteria for evaluating potential acquisitions, business combinations, and other strategic transactions, according to a press release.

Following a recently completed reorganization that eliminated approximately $12.5 million of secured debt, the Boca Raton, Florida-based company said it is actively reviewing opportunities involving private companies with enterprise values between $10 million and $50 million.

The company said it is primarily interested in businesses with established operating histories, experienced management teams, auditable financial records, and scalable business models. Springbig added it is open to opportunities across multiple industries.

Depending on the structure of a transaction, existing Springbig stockholders could retain a portion of equity in any combined company, though the press release noted no specific ownership percentage is guaranteed.

Chief Executive Officer Andrew Glashow said the company's objective is to identify the right operating business rather than simply complete a transaction. "Our objective is not simply to complete a transaction, but to identify the right operating business and management team for the Springbig platform," Glashow said.

Glashow added that the company has already begun reviewing multiple opportunities and is welcoming submissions from qualified companies and their advisors on a confidential and nonbinding basis.

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