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id: 712, Created by Stan Vick, Scout
BigBear (BBAI) SPAC Case
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On December 7, 2023, BigBear.ai, a leading AI provider, and GigCapital4, Inc. SPAC announced the completion of their business combination approved at a Special Meeting of GigCapital4's stockholders on December 3, 2021.
- Upon completion of the Business Combination, the combined company changed its name to BigBear.ai Holdings, Inc.
- The transaction values BigBear.ai at a $1.378 billion pro forma enterprise value.
Since commencing of trading of the combined company $BBAI shares lost over 70% of their value, seriously damaging investors.
Taking all representations and further results, GigCapital4 holders who received $BBAI shares, have reasons to suspect that GigCapital4 Inc. failed to provide relevant information to its shareholders before the merger.
Failure to Disclose,
Breach of Fiduciary duty,
Shock Event Date
07 December 2021