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BBAI Stock Alert: BigBear.ai Announces Direct Offering


  • BigBear.ai (BBAI) stock is moving alongside a registered stock offering announcement.
  • The company is selling 11.84 million shares and warrants for another 8.88 million shares.
  • The company expects to raise $25 million from the offering.
BBAI Stock - BBAI Stock Alert: BigBear.ai Announces Direct Offering

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BigBear.ai (NYSE:BBAI) stock is on the move Friday after the company announced details of a registered directing offering for its shares.

This registered direct offering has the company selling 11.84 million shares of BBAI stock as well as warrants for up to another 8.88 million shares. These are being sold together in units that are priced at $2.11 per share. The warrants have an exercise price of $2.32 per share.

BigBear.ai is expecting to generate gross proceeds of about $25 million from this stock offering. The company doesn’t say what it plans to do with these funds after the offering closes on June 13, 2023.

How This Affects BBAI Stock

Just like with any other offering, this one will add more outstanding shares of BBAI stock. Doing so will erode the stakes of current investors in the company. Offerings can also cause a company’s stock to drop when they are announced.

However, that’s not the case with BBAI stock on Friday morning. Instead, the company’s shares are up slightly alongside the news as of this writing. It’s likely that the offering price being the same as yesterday’s close, as well as the higher exercise price for warrants, is helping fuel this reaction. Oftentimes, offerings value shares below their current price, which drops the stock.

BigBear.ai is an artificial intelligence (AI) company. Its focus is on offering AI-powered analytics and cyber solutions to help customers better understand data. The firm was founded in 2020 and went public via a merger in 2021.

BBAI stock is up about half a percentage point as of Friday morning.

Investors looking for more of the most recent stock market news will want to stick around!

We have all of the hottest stock market coverage traders need to know about on Friday! Among that is what’s moving shares of Tesla (NASDAQ:TSLA), Greenlane (NASDAQ:GNLN) and Elevation Oncology (NASDAQ:ELEV) stock this morning. You can catch up on all of this news at the links below!

More Stock Market News For Friday

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2023/06/bbai-stock-alert-bigbear-ai-announces-direct-offering/.

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