Why BigBear.ai Stock Is Trading Sharply Lower

BigBear.ai Holdings Inc BBAI shares are trading lower by 21.37% to $1.84 Tuesday morning after the company announced a $25 million private placement.

The offering is expected to close on or about January 19, subject to the satisfaction of customary closing conditions. The company intends to use the net proceeds from this offering for general corporate purposes, including working capital.

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According to data from Benzinga Pro, BBAI has a 52-week high of $16.12 and a 52-week low of $0.58.