BigBear.ai announces $25M registered direct offering of shares and warrants

BigBear.ai Holdings, Inc.

Offering of 11.8M shares plus warrants for up to 8.9M shares at combined price of $2.11/unit.
Gross proceeds expected ~$25M before underwriting discounts and expenses; closing expected June 13, 2023.
Warrants exercisable at $2.32 per share, become exercisable after six months, five-year term.
Proceeds intended for general corporate purposes; 60-day lock-up on additional equity issuance.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BigBear.ai Holdings, Inc. entered into Underwriting Agreement with Cowen and Company, LLC, as representative of the several underwriters valued at approximately $25 million (effective 2023-06-08).

Action: entry
Agreement: underwriting
Counterparty: Cowen and Company, LLC, as representative of the several underwriters
Value: approximately $25 million
Effective: 2023-06-08

Exact text from the filing

On June 8, 2023, BigBear.ai Holdings, Inc. (the “Company”) entered into an Underwriting Agreement (the “Underwriting Agreement”) with Cowen and Company, LLC, as representative of the several underwriters listed on Schedule A thereto (collectively, the “Underwriters”), relating to the purchase and sale of an aggregate of 11,848,341 shares (the “Shares”) of its common stock, par value $0.0001 per share (“Common Stock”) and accompanying common warrants in a registered direct offering (the “Offering”).

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BigBear.ai Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-165319

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