- BigBear.ai ( NYSE: BBAI ) shares dropped 12% premarket on Tuesday after the engineering solutions firm announced a $25M private placement.
- The company entered into definitive agreements for the issuance and sale of 13.88M shares of its common stock and to purchase up to an additional 13.88M shares at an offering price of $1.80 per share and accompanying warrant.
- Gross proceeds are expected to be ~$25M; net proceeds will be used for general corporate purposes, including working capital.
- The offering is expected to close on or about January 19, 2023.
For further details see:
BigBear.ai stock slides on $25M securities offering