New York, February 3, 2026, 12:53 PM EST — Regular session underway.
- Shares of BigBear.ai Holdings climbed roughly 1.6% by midday, bouncing between $4.70 and $5.02 earlier in the session.
- Shareholders will vote on Feb. 18 to increase the authorized common stock from 500 million to 1 billion shares.
- The online voting deadline is Feb. 17, with investors torn between flexibility and the risk of dilution.
BigBear.ai Holdings, Inc (BBAI) shares climbed roughly 1.6% to $4.86 on Tuesday, gaining 7.5 cents from the previous close. The stock fluctuated between $4.70 and $5.02, with volume surpassing 41 million shares by midday.
The stock is heading into a February 18 shareholder vote after the company delayed its special meeting once more to secure additional votes. The proposal aims to increase authorized common stock—the cap on shares the company can issue under its charter—from 500 million to 1 billion. Ballots are due online by 11:59 p.m. ET on Feb. 17, according to a recent filing. Sodali & Co. is handling proxy solicitation. (BigBear.ai Holdings, Inc.)
This is significant since boosting the authorized share count allows for equity financing or stock-based transactions. BigBear.ai isn’t required to issue shares immediately, but the move could increase dilution risk if the company decides to sell stock or use shares as currency down the line.
BigBear.ai has been pushing its growth in customs and border operations. On January 28, it announced a strategic partnership with Maqta Technologies, the digital division of AD Ports Group, to develop AI-powered customs management systems. CEO Kevin McAleenan, who previously led U.S. Customs and Border Protection and served as acting DHS head, said the company was “delighted to partner” with AD Ports Group. (BigBear.ai Holdings, Inc.)
Just a week ago, BigBear.ai announced it had acquired select technologies from CargoSeer, Ltd. for an undisclosed sum. The added software aims to assist customs operators in identifying high-risk shipments through automated image analysis and machine learning. McAleenan commented, “Combining advanced computer vision with trade and cargo intelligence, we are expanding our ability to support customs agencies.” CargoSeer co-founder David Smason noted the technology’s potential to “scale rapidly.” (BigBear.ai Holdings, Inc.)
BigBear.ai has been actively reshaping its balance sheet with an eye on share count. On January 14, the company announced that all $125 million of its 6.00% convertible senior secured notes due 2029 had been fully converted into common stock. As a result, note-related debt dropped to roughly $17 million, tied to the remaining convertible notes maturing in December 2026. (BigBear.ai Holdings, Inc.)
Combined, the vote and recent funding moves highlight dilution as a key concern. Backers argue it offers the company more room to fuel growth or pursue tuck-in acquisitions; skeptics fear it’s just stretching the runway to issue more shares.
The vote works both ways. Should shareholders greenlight the plan and BigBear.ai subsequently raise capital in the market, the increased stock supply might pressure the price. On the flip side, a rejection could limit the company’s flexibility to fund growth through equity or stock-backed deals.
Traders have their eyes on the Feb. 17 voting deadline and the Feb. 18 meeting as the next key events. Any hint about the company’s approach to tapping more equity capacity—whether swiftly or cautiously—could steer the mood for the upcoming session and the week beyond.
