Bridger Aerospace Announces Closing of $9.8 Million Registered Direct Offering

BELGRADE, Mont., April 17, 2024 (GLOBE NEWSWIRE) -- Bridger Aerospace Group Holdings, Inc. (“Bridger” or “the Company”) (NASDAQ: BAER) today announced the closing of a registered direct offering of 2,183,366 shares of common stock, resulting in gross proceeds of approximately $9.8 million, before deducting placement agent commissions and other offering expenses. 808,080 of the shares sold in the offering were acquired by certain directors and executive officers of Bridger.

Tim Sheehy, Bridger’s Chief Executive Officer stated, “We are pleased to announce the closing of this equity financing, with participation and support from existing investors as well as members of the management team and Board of Directors. This injection of capital, as well as the earliest fleet deployment in Company history, is helping to position us for record growth in 2024.”

Bridger intends to use the net proceeds from the offering for working capital and other general corporate purposes.

Stifel, Nicolaus & Company, Incorporated acted as the exclusive placement agent for the offering.

This offering was made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-276721) previously filed with the U.S. Securities and Exchange Commission (the “SEC”). The offering was made only by means of a prospectus supplement and accompanying prospectus, which was filed with the SEC and is available on the SEC's website located at http://www.sec.gov. Copies of the prospectus 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], or at the SEC’s website at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Bridger Aerospace
Based in Belgrade, Montana, Bridger Aerospace Group Holdings, Inc. is one of the nation’s largest aerial firefighting companies. Bridger provides aerial firefighting and wildfire management services to federal and state government agencies, including the United States Forest Service, across the nation, as well as internationally.