BigBear.ai calls redemption of 2029 convertible notes; expects to eliminate ~$125M debt

BigBear.ai Holdings, Inc.

Redemption date Jan. 16, 2026; all outstanding 6.00% Notes due 2029 called for redemption or conversion.
Expects to reduce total note debt from ~$142M to ~$17M, eliminating ~$125M of debt.
Approximately 38M shares of common stock to be issued; shares were previously reserved.
~$58M in principal already voluntarily converted by noteholders in 2025.
Company expects no material cash outlay; preserves liquidity while strengthening balance sheet.

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