NEW YORK, Feb. 10, 2022 /PRNewswire/ -- Tuatara
Capital Acquisition Corporation (NASDAQ: TCAC) ("TCAC"), a publicly
traded special purpose acquisition company, and springbig, the
leading provider of marketing solutions, consumer mobile app
experiences, and omnichannel loyalty programs in the cannabis
industry, today announced that TCAC has publicly filed a
registration statement on Form S-4 (the "Registration Statement")
with the U.S. Securities and Exchange Commission (the
"SEC").
The Registration Statement contains a preliminary proxy
statement/prospectus in connection with the previously announced
business combination between TCAC and springbig, including a
company overview of springbig, pro-forma financial information,
transaction terms, and other important information.
"This filing represents another important milestone on our path
to closing our merger with springbig, the cannabis industry's
leading customer experience platform who we believe is poised for
long-term, sustainable growth," said Al
Foreman, Chief Executive Officer of TCAC.
Jeffrey Harris, Founder and Chief
Executive Officer of springbig, added: "We are pleased that this
latest step has been completed as we progress toward becoming a
public company. As the cannabis industry continues to rapidly
evolve, now more than ever our unique offering has the potential to
address a significant need in the market as companies strive to
reach a growing consumer base."
The business combination is expected to close in the first half
of 2022, subject to the approval of TCAC's shareholders, the
Registration Statement being declared effective by the SEC, and
other customary closing conditions and regulatory approvals. Upon
closing of the business combination, the combined company will
operate under the springbig name and is expected to remain listed
on the NASDAQ Stock Market, under the new symbol "SBIG."
A link to the S-4 filing can be found through the SEC's website
at www.sec.gov. The Registration Statement has not yet become
effective, and the information contained therein is subject to
change.
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 purchase, 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/.
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/.
Investor Relations Contact
Courtney Van
Alstyne
MATTIO Communications
ir@mattio.com
Media Contact
Noah Bethke
MATTIO Communications
springbig@mattio.com
Additional Information About the Proposed Business
Combination and Where to Find It
The proposed business combination will be submitted to stockholders
of TCAC for their consideration. In connection with the proposed
business combination, TCAC has filed a registration statement on
Form S-4 (the "Registration Statement") with the SEC, which
includes preliminary and definitive proxy statements to be
distributed to TCAC's stockholders in connection with TCAC's
solicitation for proxies for the vote by TCAC's stockholders in
connection with the proposed business combination and other matters
as described in the Registration Statement, as well as the
prospectus relating to the offer of the securities to be issued to
springbig's stockholders in connection with the completion of the
proposed business combination. After the Registration Statement has
been declared effective, TCAC will mail a definitive proxy
statement and other relevant documents to its stockholders as of
the record date established for voting on the proposed business
combination. Before making any voting decision, TCAC's
stockholders and other interested persons are advised to read, once
available, the preliminary proxy statement / prospectus and any
amendments thereto and, once available, the definitive proxy
statement / prospectus, along with all other relevant documents
filed or that will be filed with the SEC in connection with the
proposed business combination and the TCAC's solicitation of
proxies for its special meeting of stockholders to be held to
approve, among other things, the proposed business combination,
because these documents will contain important information about
TCAC, springbig and the proposed business
combination. Stockholders will be able to obtain free copies
of the preliminary or definitive proxy statement, once available,
as well as other documents filed with the SEC regarding the
proposed business combination and other documents filed with the
SEC by TCAC, without charge, at the SEC's website located
at www.sec.gov or by directing a request to Tuatara
Capital Acquisition Corporation, 655 Third Avenue, 8th
Floor, New York 10017.
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 registration statement on Form
S-1, any proxy statement/prospectus relating to the transaction,
which is expected to be filed by TCAC with the SEC, 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.
Participants in the Solicitation
TCAC, springbig and certain of their respective directors,
executive officers and other members of management and employees
may, under SEC rules, be deemed to be participants in the
solicitations of proxies from TCAC's stockholders in connection
with the proposed business combination. Information regarding the
persons who may, under SEC rules, be deemed participants in the
solicitation of TCAC's stockholders in connection with the proposed
business combination will be set forth in TCAC's proxy statement /
prospectus when it is filed with the SEC. You can find more
information about TCAC's directors and executive officers in TCAC's
final prospectus dated February 11,
2021 and filed with the SEC on February 16, 2021. Additional information
regarding the participants in the proxy solicitation and a
description of their direct and indirect interests will be included
in the proxy statement / prospectus when they become available.
Stockholders, potential investors and other interested persons
should read the proxy statement / prospectus carefully when it
becomes available before making any voting or investment decisions.
You may obtain free copies of these documents from the sources
indicated above.
No Offer or Solicitation
This press release relates to a proposed business combination
between TCAC and springbig and does not constitute an offer to sell
or the solicitation of an offer to buy any securities, or a
solicitation of any vote or approval, nor shall there be any sale
of securities in any jurisdiction in which such offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction.
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SOURCE Tuatara Capital Acquisition Corporation