Why BigBear.ai (BBAI) Stock Is Nosediving Today

BigBear.ai Holdings Inc BBAI shares are trading lower by 17.34% to $3.29 Tuesday morning after the company filed for a shelf offering of up to 27.8 million shares of common stock by selling shareholder.

What Else?

BigBear.ai will not receive any of the proceeds from the sale of these shares of our common stock by the selling stockholder. However, BigBear.ai says the company will receive proceeds from the exercise of the warrant, if the warrant is exercised for cash.

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The company intends to use those applicable proceeds, if any, for general corporate purposes.

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