BigBear.ai receives $20.6M via warrant exercise; issues new 5.8M-share warrant at $3.78

BigBear.ai Holdings, Inc.

Investor Armistice Capital exercised 8,886,255 warrants at $2.32/share, gross proceeds ~$20.6M.
Company issued new unregistered warrant for 5.8M shares at $3.78, exercisable from Aug 28, 2024 for 5 years.
New warrant includes 9.99% beneficial ownership limitation, with registration rights within 30 days.
Company agreed to 30-day moratorium on equity issuances and registration filings.
Existing warrant shares issued free of legends; new warrant shares are initially restricted.

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 Warrant Exercise Agreement with an existing accredited investor valued at approximately $20.6 million (effective 2024-02-27).

Action: entry
Agreement: equity purchase
Counterparty: an existing accredited investor
Value: approximately $20.6 million
Effective: 2024-02-27

Exact text from the filing

On February 27, 2024, BigBear.ai Holdings, Inc. (the “Company”) entered into a warrant exercise agreement (the “Warrant Exercise Agreement”) with an existing accredited investor (the “Investor”) to exercise in full an outstanding Common Stock Purchase Warrant (the “Exercise”) to purchase up to an aggregate of 8,886,255 shares of the Company’s common stock (the “Existing Warrant”).

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BigBear.ai Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-049253

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