GigCapital4 filed a definitive proxy statement/prospectus with the SEC on the SPAC’s proposed merger with BigBear.ai, an AI machine learning, cloud-based big data analytics and cyber engineering solutions platform.
A stockholder vote is set for Dec. 3.
The SPAC has backstop agreements of more than $74 million to support the deal against any redemptions.
Announced in June, the cash component of the purchase price to BigBear.ai is expected to be funded by GigCapital4’s cash in trust (minus any redemptions), and a $200 million convertible senior unsecured note private placement. GigCapital4 raised $312 million in a February IPO. Read more.