BigBear.ai Holdings enters agreement to sell up to 100 million shares via Jefferies
BigBear.ai Holdings enters agreement to sell up to 100 million shares via Jefferies
BigBear.ai Holdings, Inc. (NYSE:BBAI) announced Monday it has entered into an Open Market Sale Agreement with Jefferies LLC, allowing the company to sell up to 100 million shares of its common stock through the sales agent. The agreement was entered on July 31, 2026. The announcement comes as the stock trades at $2.86, down nearly 60% over the past year and approaching its 52-week low of $2.59.
According to the SEC filing, sales of the shares may be made from time to time using methods considered “at the market offerings” as defined under Rule 415(a)(4) of the Securities Act of 1933. The shares will be offered pursuant to the company’s registration statement on Form S-3, which was filed with the Securities and Exchange Commission on August 18, 2025.
Under the terms of the agreement, BigBear.ai Holdings will pay Jefferies LLC a commission of up to 3.0% of the gross proceeds from any shares sold. The company has also agreed to provide indemnification and contribution to the sales agent for certain liabilities, including those under federal securities laws.
The legal opinion related to the shares to be sold under the agreement has been provided by Latham & Watkins LLP and is included as an exhibit to the filing.
BigBear.ai Holdings’ common stock and redeemable warrants are listed on the New York Stock Exchange under the symbols NYSE:BBAI and NYSE:BBAI.WS, respectively.
This information is based on a press release statement included in a filing with the Securities and Exchange Commission.
In other recent news, BigBear.ai Holdings reported a 13% increase in second-quarter revenue for 2026, reaching $36.74 million. This figure surpassed Wall Street expectations by $1.13 million, or 3.17%, and matched the analysts’ earnings per share estimate with an adjusted loss of 5 cents per share. Despite these positive results, Cantor Fitzgerald adjusted its price target for BigBear.ai shares from $5.00 to $4.00, maintaining a Neutral rating due to an EBITDA miss. The company also announced a gross margin increase to 32.8%, a rise of 781 basis points compared to the same period last year. BigBear.ai’s backlog grew to $270 million, up $22 million from the end of 2025, and it secured over 20 new contracts during the quarter. The company remains on track for full-year 2026 revenue projections between $135 million and $165 million. These developments reflect a strong demand for BigBear.ai’s artificial intelligence products, particularly in defense, security, and trade-related sectors. The firm highlighted advancements in its GenAI platforms, cargo inspection software, and drone orchestration tools as key contributors to its performance.