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 story : BigBear.ai to go public via merger valued at .6 billion with SPAC GigCapital4 #FinanceUSA #StockMarketNEWS BigBear.ai is set to go public after the Maryland-based data analytics company announced

@stockMarketNEWS 7 Days ago

Posted in: #FinanceUSA #StockMarketNEWS

BigBear.ai to go public via merger valued at .6 billion with SPAC GigCapital4 #FinanceUSA #StockMarketNEWS
BigBear.ai is set to go public after the Maryland-based data analytics company announced Friday an agreement to merge with special purpose acquisition company (SPAC) GigCapital4 Inc. in a deal that values BigBear.ai at .57 billion. The deal is expected to provide BigBear.ai with about 0 million in cash after closing. After the deal closes, which is expected to occur in the third quarter of 2021, the combined company will be named BigBear.ai and the stock is expected to list on the Nasdaq. BigBear.ai recorded 0 million in revenue in 2020. "In GigCapital4, we found a like-minded strategic partner that shares our vision for the future of data-driven decision dominance, and this business combination will help us drive growth as a public company," said BigBear.ai Chief Executive Dr. Reggie Brothers. GigCapital4's stock was down 0.2% prior to a trading halt for news. The stock is expected to resume trading at 11:15 a.m. Eastern. Prior to the halt, the stock was little changed since it closed at .68 on its first day of trading on April 1. Over the same time, the Renaissance IPO ETF has lost 3.6% and the S&P 500 has gained 5.0%.


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