BigBear.ai shareholders voted 89% to 10% to amend the company’s Certificate of Incorporation, doubling the number of authorized shares from 500 million to 1 billion. The company had nearly exhausted its previous authorization, with less than 23 million shares remaining out of 500 million, while its outstanding share count has grown more than tenfold over the past five years from 46 million to over 477 million. The new authorization gives management flexibility for potential acquisitions, though any further issuances would dilute existing shareholders. BigBear.ai’s stock is down more than 60% since its 2021 SPAC merger, and the company has posted growing net losses and only 13.5% revenue growth.
BigBearai Holdings IncShareholder approval to double authorized shares enables further dilution, and stock is down 60% since SPAC merger with growing losses.
Palantir Technologies Inc.