Bridger Aerospace Group Holdings and Jack Creek Investment today announced a merger agreement that values Bridger at $869 million on a pro forma enterprise value. If approved, Bridger is expected to receive up to approximately $345 million in cash, less any redemptions by Jack Creek shareholders. Aerospace would list on the Nasdaq under the ticker symbol BAER.
Founded in 2014 and led by CEO and former Navy SEAL Tim Sheehy, Bridger is focused on addressing the year-round threat of economic and environmental damage caused by wildfires. Through its fleet of aircraft, Bridger provides a federal agency and state government client base with a range of aerial firefighting solutions. Bridger has the ability to operate in all 50 states.
There is no minimum cash condition for closing the deal, according to a press release, nor is PIPE financing involved. Read more.
