BigBear.ai issues supplemental proxy disclosures to address merger-related shareholder litigation

BigBear.ai Holdings, Inc.

Two shareholder complaints filed Feb 8 and Feb 12, 2024 allege proxy statement for Pangiam merger is misleading.
Company denies allegations but supplements proxy with comparable company multiples (EV/EBITDA, EV/Revenue) to avoid delay.
Supplemental disclosures include new tables for selected government and commercial business peers.
No admission of liability; company states it believes claims are without merit.
Merger with Pangiam remains pending; shareholder vote and regulatory approvals still required.

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