BigBear.ai Announces Registered Direct Offering of Common Stock and Warrants

Jun 09, 2023

BigBear.ai Holdings, Inc. (NYSE: BBAI) (“BigBear.ai” or the “Company”), a leader in AI-powered decision intelligence solutions, today announced that it has entered into a definitive agreement for the purchase and sale of 11,848,341 shares of its common stock and accompanying warrants initially exercisable for up to 8,886,255 shares of common stock at a combined purchase price of $2.11 per share of common stock for aggregate gross proceeds of approximately $25 million, before deducting underwriting discounts and commissions and offering expenses. The warrants will become exercisable six months after issuance, have a term of five years from the initial exercise date and will have an exercise price of $2.32 per share. The offering is expected to close on or about June 13, 2023, subject to satisfaction of customary closing conditions.

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