Bridger Aerospace Announces $70 Million Proposed Public Follow-On Offering to Fund Growth Initiatives

BELGRADE, Mont., Oct. 17, 2023 (GLOBE NEWSWIRE) -- Bridger Aerospace Group Holdings, Inc. (“Bridger” or “Bridger Aerospace”) (NASDAQ: BAER) today announced the commencement of a proposed underwritten public offering by Bridger of $70 million of shares of its common stock, par value $0.0001 per share (“Common Stock”). Bridger intends to grant the underwriters a 30-day option to purchase up to an additional $10.5 million of shares of its Common Stock at the public offering price less the underwriting discounts and commissions. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Bridger intends to use the net proceeds of the offering to finance the cash purchase price for four additional Super Scooper aircraft from the Spanish government and for the previously announced acquisition of Bighorn Airways, Inc., and the remainder for general corporate purposes, including funding the upgrade costs for the acquired Super Scoopers and other working capital needs.

Stifel, Nicolaus & Company, Incorporated is acting as the lead book-running manager for the offering and BTIG LLC and Canaccord Genuity LLC are also acting as joint book-runners for the offering.

The offering will be made only by means of a prospectus forming part of a registration statement on Form S-1 on file with the Securities and Exchange Commission (the “SEC”). A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. A copy of the preliminary prospectus relating to the offering may be obtained by sending a request to Stifel, Nicolaus & Company, Incorporated, Attn: Syndicate Department, 1 South Street, 15th Floor, Baltimore, MD 21202, or by telephone at [phone], or by email at [e-mail]. The preliminary prospectus and the final prospectus, when available, may also be obtained on the SEC’s website at http://www.sec.gov.