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AI Specialist BigBear Is In Merger Talks With GigCapital4 SPAC

BigBear.ai, an artificial-intelligence company, is in talks to go public through a merger with GigCapital4 Inc., a blank-check firm, according to people with knowledge of the matter.

The special purpose acquisition company is seeking to raise equity and convertible debt to support a deal that’s set to value the combined entity at more than $1.5 billion, said one of the people. Terms could change and as with all transactions that aren’t yet finalized, it’s possible talks could collapse.