Bridger Aerospace Group Holdings, Inc. acquired Ignis Technologies Inc. for $67 million.
Bridger Aerospace Group Holdings, Inc. (NasdaqGM:BAER) completed the acquisition of Ignis Technologies Inc. for $67 million on September 12, 2023. BAER completed the acquisition of all the outstanding equity interests of Ignis for total consideration of $11.6 million, payable in unregistered shares of Bridger?s Common Stock, consisting of $3.242 million payable at closing. At the closing, 426,531 restricted shares of Common Stock were issued to the Ignis shareholders. The remaining $8.3 million of Common Stock consideration is contingent upon the achievement of certain operational milestones and, assuming achievement of such milestones, will be issued to the Ignis shareholders in 2024, 2025, and 2026. The maximum number of shares of Common Stock issuable to the Ignis shareholders as contingent earnout consideration will not exceed 8,399,918 shares in the aggregate.