Bridger Aerospace Group Holdings (BAER) just unveiled an update.
Bridger Aerospace Group Holdings has successfully finalized its acquisition of Flight Test & Mechanical Solutions, Inc., making FMS a wholly-owned subsidiary in a $20.6 million deal, consisting of common stock and additional contingent equity. The transaction, hinged on FMS’s future EBITDA performance, involves transfer restrictions and resale registration rights for FMS shareholders. Bridger has also announced significant executive changes, with Tim Sheehy resigning as CEO and President, Sam Davis stepping in as interim CEO, Dan Drohan joining the board, and Jeffrey Kelter becoming Executive Chairman.
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