NEW YORK, January 1, 2026, 06:19 ET — Market closed.
- BigBear.ai said it has completed its $250 million cash acquisition of Ask Sage.
- Shares last closed down 1.8% at $5.40; U.S. markets are closed for New Year’s Day.
- Shareholders will vote Jan. 22 on a proposal to raise authorized shares to 1 billion.
BigBear.ai Holdings, Inc. (NYSE: BBAI) said late Wednesday it completed its $250 million cash acquisition of Ask Sage, a secure generative AI platform used by more than 100,000 users across 16,000 government teams.
“Completing the acquisition of Ask Sage marks a significant milestone for BigBear.ai,” Chief Executive Kevin McAleenan said. BigBear.ai Holdings, Inc.
Shares last closed down 1.8% at $5.40, and U.S. markets are shut Thursday for New Year’s Day.
The close deepens the McLean, Virginia-based company’s push into secure generative AI — software that can produce text and other outputs from a prompt — for defense and intelligence customers.
That push matters now as agencies test AI tools but keep tight controls on data access and security clearances, creating demand for products that can run inside restricted networks.
At $250 million, the deal price equals about 55% of the $456.6 million cash BigBear.ai reported as of Sept. 30. The company maintained a full-year 2025 revenue outlook of $125 million to $140 million in November.
BigBear.ai had a market value of about $2.36 billion at year-end, based on the closing share price.
Ask Sage is designed to deploy and manage large language models, or LLMs, the text-generating systems behind chatbots. BigBear.ai said the platform was built for highly regulated environments, including defense and intelligence, where systems often run on restricted networks.
BigBear.ai is also pressing shareholders to approve an amendment increasing its authorized shares — from 500 million to 1 billion — according to a letter from McAleenan. Authorized shares are the maximum number of shares a company can legally issue, and raising the cap can add financing flexibility but can also amplify dilution concerns.
McAleenan said the change would not trigger an immediate issuance of shares, and said proxy advisers Institutional Shareholder Services and Glass Lewis recommended investors vote in favor.
The company’s investor site shows the special meeting of stockholders will reconvene on Jan. 22 at 3 p.m. EST.
The vote outcome could shape how BigBear.ai funds future acquisitions or raises capital, even as it writes a large check to close Ask Sage.
BigBear.ai operates in a crowded AI software market that includes larger players such as Palantir Technologies and C3.ai, while traditional defense contractors have rolled out their own AI offerings.
Before next session
Trading resumes Friday, Jan. 2, and investors will get their first full regular-session read on the Ask Sage purchase.
Attention will be on any follow-up filings or management commentary detailing how Ask Sage will feed into revenue, margins and cash spending in 2026.
Technical traders will be looking at $5 as near-term support and the $5.50 area as resistance, with the Jan. 22 shareholder vote looming as the next scheduled catalyst.
