Bridger Aerospace expands board with new director

BELGRADE, Mont. - Bridger Aerospace Group Holdings, Inc. (NASDAQ: BAER, BAERW), a prominent player in the U.S. aerial firefighting sector with a market capitalization of $86.21 million, announced today the addition of Meghan Pasricha to its board as an independent director. The appointment brings the total number of board members to nine. According to InvestingPro data, the company has demonstrated strong revenue growth of 47.83% over the last twelve months, though it remains unprofitable.

Jeffrey Kelter, the Chairman of Bridger Aerospace, expressed confidence in Pasricha’s extensive background in credit and capital solutions, which he believes will be instrumental in the company’s growth initiatives. Pasricha’s role will involve optimizing the company’s capital structure to aid in long-term growth and enhance stakeholder value. InvestingPro analysis shows the company maintains a healthy liquidity position with a current ratio of 2.73, indicating strong ability to meet short-term obligations.

Meghan Pasricha, 39, is a Partner at Galvanize Climate Solutions, focusing on investments in decarbonization. Her prior experience includes a role as Managing Director at Riverstone Holdings, where she specialized in financing solutions for energy companies, and a stint as President of a water solutions company. Pasricha’s career began at UBS Investment Bank, followed by a position as a private equity investor at The Carlyle Group. Additionally, she co-founded Women in Climate Investing & Finance and leads a nonprofit dedicated to youth leadership.

Bridger Aerospace, headquartered in Belgrade, Montana, is recognized as one of the largest aerial firefighting companies in the nation. The company provides services to various government agencies, including the U.S. Forest Service, and operates both domestically and internationally. With an EBITDA of $24.3 million in the last twelve months, the company shows operational efficiency despite challenging market conditions. For a comprehensive analysis of Bridger Aerospace’s financial health and growth prospects, investors can access the detailed Pro Research Report available on InvestingPro, which covers over 1,400 US equities with expert insights and actionable intelligence.

This strategic board expansion aligns with Bridger Aerospace’s commitment to enhancing its governance and expertise as it continues to provide critical services in wildfire management and aerial firefighting. The information is based on a press release statement from Bridger Aerospace Group Holdings, Inc.

In other recent news, Bridger Aerospace Group Holdings, Inc. has announced a new at-the-market (ATM) equity issuance program, allowing the company to offer and sell common stock shares totaling up to $100 million. The funds raised will be used for general corporate purposes, as indicated in a filing with the U.S. Securities and Exchange Commission. Additionally, Bridger Aerospace has secured a contract with the State of Montana for exclusive wildfire detection and mapping services, valued at a base annual amount of $648,000. This contract is the first collaboration with FMS Aerospace since its acquisition by Bridger in 2024.

The company is also expanding its fleet with plans to introduce the FF72, an amphibious firefighting aircraft, in partnership with Positive Aviation. This move is expected to enhance Bridger’s firefighting capabilities, with deliveries starting in 2029. In terms of leadership, Sam Davis has been appointed as the President and Chief Executive Officer, following his interim role since July 2024. Under his leadership, the company has seen significant financial growth.

Furthermore, Canaccord Genuity has revised its price target for Bridger Aerospace, lowering it to $5.00 while maintaining a Buy rating. This adjustment comes as Bridger’s fleet continues to operate actively across the United States, with expectations of increased demand for its services. These developments reflect Bridger Aerospace’s ongoing efforts to strengthen its operational and financial position in the aerial firefighting industry.

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