BigBear.ai Shares Rise After New GSA Contract

Dow Jones12-19

By Chris Wack

BigBear.ai shares were up 16% at $3.63 in premarket trading after it said it was awarded a position on the U.S. General Services Administration's One Acquisition Solution for Integrated Services Plus, or OASIS+, unrestricted multiple agency contract.

The AI technology company said OASIS+ is a best-in-class, government-wide suite of contracts designed to streamline the procurement of complex professional services across all federal agencies.

The contract has no maximum dollar ceiling and offers a 10-year ordering period with an unlimited number of task orders at any dollar value.

BigBear.ai said its award includes 75 contract line-item numbers across five domains.

The Columbia, Md., company also said that it has entered into separate, privately negotiated exchange agreements with a limited number of holders of its 6.00% convertible senior notes due 2026.

BigBear.ai will exchange $182.3 million of the existing convertible notes for $182.3 million of new 6.00% convertible senior secured notes due 2029 and $400,000 in cash.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

December 19, 2024 08:40 ET (13:40 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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