Bridger Aerospace to acquire Bighorn Airways for $39.25M in cash and stock

Bridger Aerospace Group Holdings, Inc.

Deal consideration: $39.25M total; $14.75M in unregistered Bridger common stock, balance in cash.
Acquires Bighorn's 12-aircraft fleet used for wildfire smoke jumping and DoD special missions.
Expected close by Sept 22, 2023, subject to customary conditions; extends to Dec 31 if cash unpaid.
Bighorn projected FY2023 pro forma revenue of $22M and adjusted EBITDA of $5M; deal expected to be accretive.
Sellers receive resale registration rights; shares subject to 3-year monthly vesting lockup.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Bridger Aerospace Group Holdings, Inc. entered into Purchase and Sale Agreement with Robert Eisele and Christopher Eisele valued at $39.25 million (effective 2023-07-21).

Action: entry
Agreement: asset purchase
Counterparty: Robert Eisele and Christopher Eisele
Value: $39.25 million
Effective: 2023-07-21

Exact text from the filing

On July 21, 2023, Bridger Aerospace Group Holdings, Inc. (NASDAQ: BAER) (“Bridger”), through its subsidiary Bridger Bighorn, LLC, a Montana limited liability company, entered into a Purchase and Sale Agreement (the “Purchase Agreement”) with Robert Eisele and Christopher Eisele (the “Sellers”), the owners of Big Horn Airways, Inc. (“Bighorn”), pursuant to which Bridger will acquire 100% of the outstanding equity interests of Bighorn (the “Transaction”).

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Bridger Aerospace Group Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-191891

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