Expected Closing Date of December 7,
2021
Combined Company Expected to Begin Trading
on NYSE Under Ticker Symbols “BBAI” and “BBAI.WS,” Respectively, on
December 8, 2021
GigCapital4, Inc. (“GigCapital4”; Nasdaq: GIGGU, GIG, GIGGW), a
private-to-public equity (PPE)TM entity also known as a special
purpose acquisition company (“SPAC”), and BigBear.ai (“the
Company”), a leading provider of artificial intelligence ("AI"),
machine learning, cloud-based big data analytics, and cyber
engineering solutions, today announced that at the Special Meeting
of GigCapital4's stockholders (the “Special Meeting”) held today,
GigCapital4’s shareholders voted to approve the previously
announced proposed business combination between GigCapital4 and
BigBear.ai, as well as all other proposals related to the Business
Combination.
GigCapital4 plans to file the results of the Special Meeting, as
tabulated by an independent inspector of elections, on Form 8-K
with the Securities and Exchange Commission today.
Based on today’s shareholder approval and subject to the
satisfaction or waiver of certain other closing conditions as
described in GigCapital4’s definitive proxy statement/prospectus,
the Business Combination is expected to be consummated on or about
December 7, 2021. Following the consummation of the Business
Combination, the combined company will operate as BigBear.ai
Holdings, Inc. and its shares of common stock and warrants are
expected to trade on the New York Stock Exchange beginning on
December 8, 2021 under the symbols “BBAI” and “BBAI.WS,”
respectively.
About BigBear.ai
A leader in decision dominance for more than 20 years,
BigBear.ai operationalizes artificial intelligence and machine
learning at scale through its end-to-end data analytics platform.
The company uses its proprietary AI/ML technology to support its
customers' decision-making processes and deliver practical
solutions that work in complex, realistic, and imperfect data
environments. In addition, BigBear.ai's composable AI-powered
platform solutions work together as often as they stand alone:
Observe (data ingestion and conflation), Orient (composable machine
learning at scale), and Dominate (visual anticipatory intelligence
and optimization).
BigBear.ai's customers, which include the U.S. Intelligence
Community, Department of Defense, the U.S. Federal Government, as
well as customers in the commercial sector, rely on BigBear.ai's
high-value software products and technology to analyze information,
identify and manage risk, and support mission-critical decision
making. Headquartered in Columbia, Maryland, BigBear.ai has
additional locations in Virginia, Massachusetts, Michigan, and
California. For more information, please visit: http://bigbear.ai/
and follow BigBear.ai on Twitter: @BigBearai.
About GigCapital4
GigCapital4, Inc. is a Private-to-Public Equity (PPE)™ company,
also known as a blank check company or special purpose acquisition
company (SPAC), focusing on the technology, media and
telecommunications (TMT) and sustainable industries. It was
sponsored by GigAcquisitions4, LLC, which was founded by
GigFounders, LLC, each a member entity of GigCapital Global, and
formed for the purpose of entering into a merger, share exchange,
asset acquisition, stock purchase, recapitalization, reorganization
or similar business combination with one or more businesses.
“Private-to-Public Equity (PPE)” is a trademark of GigFounders,
LLC, an affiliate GigCapital4, and is used pursuant to
agreement.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, including the business combination between GigCapital4 and
the Company and the closing of those transactions, and statements
regarding our management team’s expectations, hopes, beliefs,
intentions, plans, prospects or strategies regarding the future,
including possible business combinations, revenue growth and
financial performance, product expansion and services. Any
statements contained herein that are not statements of historical
fact may be deemed to be forward-looking statements. In addition,
any statements that refer to projections, forecasts or other
characterizations of future events or circumstances, including any
underlying assumptions, are forward-looking statements. The words
“anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,”
“intends,” “may,” “might,” “plan,” “possible,” “potential,”
“predict,” “project,” “should,” “would” and similar expressions may
identify forward-looking statements, but the absence of these words
does not mean that a statement is not forward-looking. The
forward-looking statements contained in this press release are
based on our current expectations and beliefs made by the
management of GigCapital4 and the Company in light of their
respective experience and their perception of historical trends,
current conditions and expected future developments and their
potential effects on the Company and GigCapital4 as well as other
factors they believe are appropriate in the circumstances. There
can be no assurance that future developments affecting the Company
or GigCapital4 will be those that we have anticipated. These
forward-looking statements involve a number of risks, uncertainties
(some of which are beyond the control of the parties) or other
assumptions that may cause actual results or performance to be
materially different from those expressed or implied by these
forward-looking statements, including regulatory approvals, the
ability of the post-combination company to meet the NYSE listing
standards, product and service acceptance, and that the Company
will have sufficient capital to operate as anticipated. Should one
or more of these risks or uncertainties materialize, or should any
of our assumptions prove incorrect, actual results may vary in
material respects from those projected in these forward-looking
statements. Additional factors that could cause actual results to
differ are discussed under the heading “Risk Factors” and in other
sections of GigCapital4’s filings with the SEC, and in
GigCapital4’s current and periodic reports filed or furnished from
time to time with the SEC. All forward-looking statements in this
press release are made as of the date hereof, based on information
available to GigCapital4 and the Company as of the date hereof, and
GigCapital4 and the Company assume no obligation to update any
forward-looking statement, whether as a result of new information,
future events or otherwise, except as may be required under
applicable securities laws.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211203005521/en/
For BigBear.ai: Reevemark Paul Caminiti/Delia Cannan/Pam
Greene 212-433-4600 bigbear.ai@reevemark.com
For GigCapital4: ICR Brian Ruby Brian.ruby@icrinc.com
For AE Industrial Partners: Lambert & Co. Jennifer
Hurson 845-507-0571 jhurson@lambert.com
Caroline Luz 203-656-2829 cluz@lambert.com
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