Tuatara Capital Acquisition Corporation
TCACU
NASDAQ Capital Market8.70
USD
+0.02
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Tuatara Capital Acquisition Corporation
TCACU
(NASDAQ Capital Market)
Recent
price
8.70
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Similar Companies
- Business
- Tuatara Capital Acquisition Corporation (TCACU) is a blank check special purpose acquisition company (SPAC) formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses, with a primary focus on the cannabis industry. The company does not currently operate active businesses or generate revenues beyond interest income on its trust account proceeds from its initial public offering. Incorporated in the Cayman Islands in 2020 and headquartered at 655 Third Avenue, 8th Floor, New York, New York, Tuatara Capital targets compliant cannabis-related opportunities across segments such as research and testing, cultivation, processing, technology, social consumption, cannabinoids, wellness, and industrial hemp. In a major development completed on June 14, 2022, Tuatara Capital Acquisition Corporation merged with SpringBig Holdings, Inc., in a reverse merger transaction, resulting in the SPAC's acquisition by SpringBig and a subsequent name change to SpringBig Holdings, Inc., with its common stock and warrants reticking to SBIG and SBIGW on Nasdaq. This business combination, initially announced on November 9, 2021, and approved by shareholders following a special meeting on June 9, 2022, valued the pro forma enterprise at approximately $468 million and enabled SpringBig—a provider of marketing solutions, consumer mobile app experiences, and omnichannel loyalty programs for the cannabis sector—to list publicly. Prior to the merger, the company raised $175 million in its February 2021 IPO, upsized to 17.5 million units at $10.00 each, underwritten by J.P. Morgan and BMO Capital Markets, with units separating into shares (TCAC) and warrants (TCACW) in April 2021. The SPAC operates globally but emphasizes U.S. and Canadian cannabis markets, led by CEO Albert Foreman, COO Mark Zittman, and CFO Sergey Sherman, drawing on Tuatara Capital's expertise as a growth equity firm founded in 2014 with prior investments in entities like Slang Worldwide and Connecticut Pharmaceutical Solutions. Post-merger, Tuatara Capital ceased independent operations as a standalone entity, with investor inquiries redirected to SpringBig Holdings. Trading of TCACU units was suspended following the transaction close.
Tuatara Capital Acquisition Corporation Announces the Separate Trading of its Class A Ordinary Shares and Warrants Commencing April 5, 2021
Tuatara Capital Acquisition Corporation Announces Pricing of Upsized $175 Million Initial Public Offering