Bridger Aerospace Secures $331.5M Financing to Fuel Fleet Expansion, Growth

Bridger Aerospace Group Holdings Inc. (NASDAQ:BAER) is one of the best stocks under $3 to invest in. On October 29, Bridger Aerospace Group Holdings announced that it secured new financing commitments totaling up to $331.5 million through a new senior secured facility led by Bain Capital’s Private Credit Group.

The new $331.5 million Senior Secured Credit Facility is structured into three parts: a $21.5 million Revolving Credit Facility, a $210 million Senior Secured Term Loan, and a $100 million Fleet Expansion Facility. The series of transactions serves to refinance Bridger’s existing $160 million municipal bond with Gallatin County, consolidate the company’s other existing debt, and provide substantial financial flexibility.

Specifically, the financing includes a delayed draw facility designed to fund future fleet expansion. Bridger also recognized strategic partners, including Bain Capital, Crestline, Power Sustainable, and Foundation Credit.

Bridger Aerospace Group Holdings Inc. (NASDAQ:BAER) provides aerial wildfire surveillance, relief & suppression, and aerial firefighting services in the US.

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Disclosure: None. This article is originally published at Insider Monkey.