BigBear.ai Announces Registered Direct Offering of Common Stock and Warrants - BigBear.ai Hldgs (NYSE:BBA

BigBear.ai Holdings, Inc. BBAI ("BigBear.ai" or the "Company"), a leader in AI-powered decision intelligence solutions, today announced that it has entered into a definitive agreement for the purchase and sale of 11,848,341 shares of its common stock and accompanying warrants initially exercisable for up to 8,886,255 shares of common stock at a combined purchase price of $2.11 per share of common stock for aggregate gross proceeds of approximately $25 million, before deducting underwriting discounts and commissions and offering expenses. The warrants will become exercisable six months after issuance, have a term of five years from the initial exercise date and will have an exercise price of $2.32 per share. The offering is expected to close on or about June 13, 2023, subject to satisfaction of customary closing conditions.

The securities described above are being offered by BigBear.ai pursuant to an effective "shelf" registration statement on Form S-3 (File No. 333-271230) previously filed with the Securities and Exchange Commission (the "SEC") and declared effective by the SEC on April 21, 2023. The securities may be offered only by means of a prospectus supplement. When available, a copy of the prospectus supplement and accompanying prospectus relating to the offering may be obtained by visiting the EDGAR database on the SEC's web site at www.sec.gov.