BigBear.ai raises ~$21.9M via full warrant exercise; issues new warrant for 3.77M shares at $9.00

BigBear.ai Holdings, Inc.

Existing warrant for 5,800,000 shares exercised at $3.78/share, gross proceeds ~$21.9M.
New unregistered warrant issued for up to 3,770,000 shares at $9.00/share, exercisable after August 6, 2025.
New warrant expires five years from issuance; includes 9.99% beneficial ownership limit for investor.
Company to file resale registration statement for new warrant shares by 2 business days after 10-K filing.
Investor is Armistice Capital Master Fund Ltd., an existing accredited holder.

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