BigBear.ai Holdings, Inc. (BBAI): M&A transaction — BigBear.ai closes $70M acquisition of Pangiam, issues 61.8M shares; names McAleenan President

BigBear.ai Holdings, Inc.

Acquisition of Pangiam completed; consideration 61.8M shares of BBAI common stock, representing ~$70M purchase price (subject to working capital adjustments).
Combined entity aims to be breakout leader in Vision AI for national security, supply chain, and digital identity.
Kevin McAleenan, former CEO of Pangiam, appointed President of BigBear.ai.
Seller granted registration rights under amended investor rights agreement.
Post-closing adjustments may result in up to $7M additional shares of BBAI.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

BigBear.ai Holdings, Inc. completed an acquisition involving Pangiam Ultimate Holdings, LLC for 61,838,072 shares of BBAI common stock (closed 2024-02-29).

Action: acquisition
Counterparty: Pangiam Ultimate Holdings, LLC
Consideration: 61,838,072 shares of BBAI common stock
Closing: 2024-02-29

Exact text from the filing

together with the First Merger, the “Mergers”). As consideration for the Mergers and the related transactions contemplated by the Merger Agreement, BBAI issued a total of 61,838,072 shares of BBAI common stock, $0.0001 per share (the “Common Stock”) to Seller (based on a price per share of Common Stock of $1.3439 which represents the 20-day volume-weighted

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

BigBear.ai Holdings, Inc. entered into Joinder & Second Amendment to Amended & Restated Investor Rights Agreement with BBAI Ultimate Holdings, LLC, AE BBAI Aggregator, LP, Seller (effective 2024-02-29).

Action: entry
Counterparty: BBAI Ultimate Holdings, LLC, AE BBAI Aggregator, LP, Seller
Effective: 2024-02-29

Exact text from the filing

BBAI entered into the Joinder & Second Amendment to Amended & Restated Investor Rights Agreement (the “IRA Amendment”) with BBAI Ultimate Holdings, LLC, AE BBAI Aggregator, LP, Seller and the other parties thereto

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74 m&a transactions filed in the last 30 days. Browse all m&a transactions →

BigBear.ai Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-054581

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