BigBear went public via a SPAC merger with GigCapital4 in a $1.57bn deal.

BigBear, a provider of cloud-based big data analytics solutions, went public via a SPAC merger with GigCapital4, a special purposes acquisition company, in a $1.57bn deal. “The completion of our business combination with GigCapital4 and emergence as a publicly-traded company is a landmark achievement for BigBear.ai, and one that we would not have reached without the hard work and focus of our dedicated employees and the support of our partners, GigCapital4 and AE Industrial Partners. We are in the early innings of unprecedented growth in the AI/ML landscape, and we believe our recent contract wins, which bring our total backlog to $485 million, are the tip of the iceberg. As a public company, we plan to build value for shareholders by continuing our strong momentum in the government and defense sectors and accelerating our penetration of targeted commercial markets like space, maritime, transportation & logistics, energy, retail and infrastructure," Raluca Dinu, GigCapital4 CEO.