BigBear.ai Holdings sees $78.5m in stock sales by AE Industrial Partners

In a recent transaction, AE Industrial Partners Fund II, LP and its affiliates sold a significant portion of their holdings in BigBear.ai Holdings, Inc. (NYSE:BBAI). The sale, which took place on April 8, involved 27,430,402 shares of BigBear.ai's common stock, sold at a price of $2.86 per share. The total value of the transaction amounted to approximately $78.5 million. The stock, currently trading at $3.10, has shown significant volatility, with a 52-week range of $1.17 to $10.36.

Following this transaction, the shares owned by AE Industrial Partners and its related entities were reduced to 197,614 shares. The sale was executed by entities associated with AE Industrial Partners, including AE Industrial Partners Fund II-A, LP, AE Industrial Partners Fund II-B, LP, and Pangiam Ultimate Holdings, LLC. InvestingPro data shows the company's market capitalization now stands at $891.59 million, with the stock experiencing a 72.73% gain over the past six months despite recent volatility.

The transaction highlights a significant movement in the ownership structure of BigBear.ai, with AE Industrial Partners reducing its stake in the company. The entities involved in the sale, including BBAI Ultimate Holdings, LLC, and Pangiam Ultimate Holdings, LLC, are managed by Michael R. Greene and David H. Rowe, who exercise voting and dispositive power over the shares.

This transaction is part of the broader activities of AE Industrial Partners, which has been actively managing its investment portfolio in the technology sector.

In other recent news, BigBear.ai Holdings announced a delay in filing its Annual Report on Form 10-K for the fiscal year ended December 31, 2024. This delay is attributed to a reevaluation of the accounting treatment of the company's convertible notes, necessitating a restatement of financial statements for prior years. Concurrently, BigBear.ai secured a $13.2 million contract with the U.S. Department of Defense to enhance the ORION Decision Support Platform, emphasizing its role in AI-powered decision intelligence solutions. On the financial front, BigBear.ai reported a fourth-quarter revenue increase of 8% to $43.8 million, although this fell short of both company forecasts and analyst estimates. Cantor Fitzgerald and H.C. Wainwright both adjusted their price targets for BigBear.ai to $6, citing missed revenue targets and weaker-than-expected guidance for 2025. Despite these challenges, the company ended the quarter with a significant backlog valued at $480 million, a 2.5 times increase from the previous year. Furthermore, BigBear.ai has made strides in improving its financial position, reducing net debt through warrant exercises and debt conversions. However, the company cautioned that potential disruptions, such as a U.S. government shutdown, could impact its 2025 outlook.

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