Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
NT 10-Q
Rhea-AI Filing Summary
SpringBig Holdings, Inc. is notifying of a delay in filing its Form 10-Q for the quarter ended June 30, 2026. The company completed a reorganization transaction on July 13, 2026, transferring all of its equity interests in SpringBig, Inc. under a Reorganization Agreement involving holders of its 2024 Secured Convertible Notes and 2024 Secured Term Notes. Management needs additional time to review and confirm the accounting treatment of the Reorganization.
The company expects the Reorganization to qualify as a disposal of a component of an entity under ASC 205-20, requiring discontinued operations reporting because the historical software platform business was a major line of business. This is expected to result in adjustment of prior period amounts to reflect discontinued operations. SpringBig states that it expects and intends to file the Form 10-Q no later than the fifth calendar day after the original due date.
Positive
- None.
Negative
- None.
Insights
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