New York, Jan 26, 2026, 11:19 a.m. EST — Regular session
- Shares of BigBear.ai fell about 2% in late morning trading, lagging behind the wider tech sector.
- Doubling the authorized common stock depends on a shareholder vote set for Feb. 18.
- Traders are zeroed in on the vote results, with earnings reports due in early March also drawing attention.
BigBear.ai Holdings shares dipped 1.7% to $5.72 by late morning Monday, fluctuating between $6.04 and $5.72 earlier in the session. About 20.5 million shares changed hands.
The pullback comes as investors zero in on a Feb. 18 shareholder vote to double the company’s authorized common stock from 500 million to 1 billion shares, per a recent filing. The meeting is set to be held online, with voting closing late on Feb. 17. The board is urging shareholders to support the move. (BigBear.ai Holdings, Inc.)
Authorized shares cap the amount of stock a company can issue. BigBear.ai’s CFO told investors the planned increase won’t trigger “immediate issuance” but will provide greater flexibility for financing, compensation, and acquisitions. After multiple delays trying to secure enough votes, CFO Sean Ricker said in an FAQ they’re “97% of the way” there but still short. Proxy advisers ISS and Glass Lewis support the proposal. (BigBear.ai Holdings, Inc.)
BigBear.ai’s surge caught attention as the market edged higher. The tech-focused Invesco QQQ Trust rose about 0.6%, with the SPDR S&P 500 ETF gaining close to 0.5%. Palantir held steady, while C3.ai inched up roughly 1.2%.
The company’s investor site hasn’t seen any new SEC filings since the proxy materials posted on Jan. 22. Its latest press releases also come from earlier in January. (BigBear.ai Holdings, Inc.)
On Jan. 14, BigBear.ai revealed that $125 million of its 6.00% convertible notes due 2029 have been converted into common stock, eliminating roughly $125 million in debt “without any material cash outlay.” The company now carries about $17 million in note-related debt tied to notes maturing in December 2026. (BigBear.ai Holdings, Inc.)
Earlier, the company revealed plans to issue about 38 million shares reserved for note conversion, targeting cash preservation. CEO Kevin McAleenan said, “By meaningfully reducing our debt burden, we will improve our financial flexibility.” (BigBear.ai Holdings, Inc.)
BigBear.ai kept up its acquisition streak on Jan. 21, snapping up select CargoSeer technologies for an undisclosed price. The deal brings in cargo scanning and trade risk capabilities focused on customs enforcement. McAleenan called the acquisition a strong strategic fit, while CargoSeer CEO David Smason said the tech has potential to “scale rapidly” under BigBear.ai’s umbrella. (BigBear.ai Holdings, Inc.)
The vote still hangs over a stock known for wild swings. If shareholders back raising the authorized share count, focus will turn to whether BigBear.ai plans to issue new shares or use stock for acquisitions. The company has warned it’s nearly out of authorized shares if the proposal fails again. Short interest stood at about 107.4 million shares—roughly 24.7% of the public float—as of Dec. 31, per MarketBeat data. (MarketBeat)
The Feb. 18 reconvened meeting is up next, with fresh updates on vote turnout anticipated. Traders are also eyeing the next earnings report, slated for around March 5, according to Nasdaq’s calendar. (Nasdaq)
