BigBear.ai And GigCapital4 Enter Into $75M Backstop Agreement With AE Industrial Partners

Author: Benzinga Newsdesk | November 30, 2021 09:11am

• BigBear.ai’s pro forma enterprise valuation adjusted from $1.565 billion to $1.378 billion to reflect current market conditions and establish more attractive entry point to market, which translates to a 15% reduction in equity value for BigBear.ai stockholders to $1.05 billion
• BigBear.ai believes that its recent strategic momentum and robust backlog support attractive value opportunities for stockholders
• GigCapital4 reminds its stockholders to vote or submit their proxy in support of the Board of Directors’ recommendations at the special stockholders meeting that will take place on Friday December 3, 1:00 p.m. EST / 10:00 a.m. PST 
• The Boards of Directors of both GigCapital4 and BigBear.ai reaffirm their recommendation of the combination, which is expected to close on December 7, 2021, subject to approval by the security holders of GigCapital4 and the satisfaction of customary closing conditions

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