BigBear.ai Holdings, Inc. (NYSE:BBAI), a company with a current market capitalization of $848 million, saw a significant transaction involving its common stock, as reported in the latest SEC filing. AE Industrial Partners Fund II, along with its affiliated entities, sold 6,328,238 shares of BigBear.ai at an average price of $3.39 per share. The stock has shown remarkable momentum, gaining nearly 25% in the past week alone. The total value of the sale amounted to approximately $21.45 million. This transaction was executed under a Rule 10b5-1 trading plan, which had been adopted earlier this year in May.
Following this sale, the entities still hold 104,149,225 shares of BigBear.ai. The sale was part of a structured plan, and the shares were sold at prices ranging from $3.10 to $3.61. Michael R. Greene and David H. Rowe, managing members of AeroEquity GP, LLC, exercised voting and dispositive power over these shares.
The transaction highlights ongoing activity by AE Industrial Partners in managing its investment in BigBear.ai, which specializes in prepackaged software services.
In other recent news, BigBear.ai has made significant strides in defense and aviation sectors. The company has been selected by the U.S. Navy to showcase its artificial intelligence (AI) capabilities in the Mission Autonomy Proving Ground (MAPG) exercises. BigBear.ai's ConductorOS platform aims to enhance maritime domain awareness and promote AI and sensor interoperability across multi-vendor environments.
Additionally, BigBear.ai has implemented its veriScan™ biometric verification system at Denver International Airport and secured a $165.2 million production contract with the U.S. Army. The contract positions BigBear.ai as the prime contractor for the Global Force Information Management - Objective Environment project. H.C. Wainwright analysts have reiterated a Buy rating on the company's shares following these developments.
The company also announced the appointment of Carl Napoletano as its new Chief Operating Officer. BigBear.ai has been awarded a substantial role in a Federal Aviation Administration $2.4 billion IT contract and has entered into a master service agreement with Heathrow Airport, Europe's largest airport. These recent developments highlight the company's growing influence in the aviation sector.
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