BigBear.ai Holdings, Inc. - BBAI STOCK NEWS

BigBear.ai (NYSE:BBAI) announced its participation in the U.S. Navy's Mission Autonomy Proving Ground (MAPG) exercises in the second half of 2024. The company will showcase ConductorOS, its AI, data and sensor orchestration platform, demonstrating multi-vendor interoperability and AI deployment for maritime domain awareness. The MAPG is part of the Pentagon's Joint All-Domain Command and Control (JADC2) initiative, aiming to unite sensors, AI models, and hardware across military networks. BigBear.ai will demonstrate edge-deployed route forecasting for adversary vessels and third-party vendor algorithm integration.

BigBear.ai (NYSE: BBAI) has successfully installed its veriScan™ biometric verification solution at Denver International Airport (DEN). The system is now operational at 14 international departure gates, affecting over 46,600 international departing passengers. veriScan™ streamlines the boarding process by capturing and transmitting traveler images to U.S. Customs and Border Protection for identity verification. The system has processed over 28 million passengers since 2018. While mandatory for international travelers, U.S. citizens can opt out of the facial biometric process. Photos of U.S. citizens are deleted within 12 hours, ensuring privacy protection.

BigBear.ai (NYSE: BBAI), a leading provider of AI technology for enterprise and defense, has announced its plans to release its third quarter 2024 earnings report on Tuesday, November 5, 2024, at approximately 4:15 pm ET. The company will not host an earnings call for this announcement, but shareholders can access the earnings release on the company's investor relations website at https://ir.bigbear.ai. Additionally, the CEO will provide a shareholder letter alongside the earnings report.

BigBear.ai (NYSE: BBAI) has been awarded a five-year, $165.15 million sole source prime contract by the U.S. Army for Global Force Information Management (GFIM) Production Services. This contract builds on BigBear.ai's ongoing work since 2021 to transform 15 legacy systems into an enterprise-wide intelligent automation platform, supporting the Army's vision for data-centric force management.

The primary objective is to deliver a dynamic, integrated, and interoperable transactional global force structure and employment data system for the force management community. Upon completion, GFIM-OE will enable senior leaders and combatant commanders to make data-driven force structure decisions more quickly and with greater confidence, ensuring the Army is properly manned, equipped, trained, and resourced.

BigBear.ai (NYSE: BBAI) has appointed Carl Napoletano as Chief Operating Officer (COO), effective immediately. Napoletano, who has been with the company since 2020, will report directly to CEO Mandy Long. Previously serving as Vice President of Special Projects, Napoletano oversaw strategic integration of major acquisitions, including Pangiam.

CEO Mandy Long highlighted Napoletano's decades of operational experience, intimate knowledge of target markets, and understanding of the company's strengths as key factors in his appointment. Prior to joining BigBear.ai, Napoletano was Principal and Senior Vice President at ProModel , where he led the development of decision support solutions for the Department of Defense. He also held leadership positions at General Dynamics Electric Boat, focusing on combat systems for nuclear submarines.

GigCapital7 Corp. (NASDAQ: GIGGU) announced that due to a Nasdaq error, the separate trading of its Class A ordinary shares and warrants will commence on September 11, 2024, instead of September 10, 2024. Each unit consists of one Class A ordinary share and one redeemable warrant, with each whole warrant allowing the purchase of one Class A ordinary share at $11.50 per share.

The Class A ordinary shares and warrants are expected to trade under the symbols 'GIG' and 'GIGGW' respectively. Unseparated units will continue trading as 'GIGGU'. Craft Capital Management and EF Hutton acted as joint book-running managers for the initial public offering. Investors can obtain the prospectus from EF Hutton or access it through the SEC's website.

GigCapital7 Corp. (NASDAQ: GIGGU), a Cayman Islands exempted company, announced that holders of its public units will be able to separately trade the Class A ordinary shares and warrants starting September 10, 2024.

Each unit includes one Class A ordinary share and one redeemable warrant, allowing the holder to purchase one Class A ordinary share at $11.50 per share. Unseparated units will continue to trade under the symbol GIGGU, while separated Class A shares and warrants will trade under GIG and GIGGW respectively.

To separate the units, holders must have their brokers contact Continental Stock Transfer & Trust Company. The public units were initially offered in an underwritten offering managed by Craft Capital Management and EF Hutton

Prospectuses can be obtained from EF Hutton , and the registration statement is available on the SEC's website.

GigCapital7 Corp. (NASDAQ: GIGGU) has successfully closed its initial public offering (IPO) of 20,000,000 units at $10.00 per unit, raising $200,000,000 in gross proceeds. Each unit comprises one Class A ordinary share and one redeemable warrant. The company's net proceeds, including concurrent private offerings, totaled approximately $201,950,000. Of this amount, $200,000,000 has been deposited into a trust account.

The units began trading on the Nasdaq Global Market under the ticker symbol 'GIGGU' on August 29, 2024. Once separate trading begins, the common stock and warrants are expected to trade under 'GIG' and 'GIGGW', respectively. Craft Capital Management and EF Hutton acted as joint book-running managers for the offering.

GigCapital7 Corp. (NASDAQ: GIGGU) has priced its initial public offering of 20,000,000 units at $10.00 per unit, totaling $200,000,000. The units are expected to list on the Nasdaq Global Market under the ticker symbol 'GIGGU' starting August 29, 2024. Each unit comprises one Class A ordinary share and one redeemable warrant. Craft Capital Management and EF Hutton are acting as joint book-running managers. The underwriters have a 45-day option to purchase up to an additional 3,000,000 units to cover over-allotments. The offering is anticipated to close on August 30, 2024, subject to customary conditions.