Bridger Aerospace Down 31%

By Josh Beckerman

Shares of Bridger Aerospace Group Holdings Inc. are on pace for another daily decline after more than doubling in their Wednesday debut after a blank-check company merger.

The aerial firefighting company's shares were recently down 31% at $13.02.

The stock closed at $22.08 on Wednesday, compared with the $10.19 Tuesday close for Jack Creek Investment Corp., the special purpose acquisition company that merged with Bridger on Tuesday. Shares ended at $18.79 Thursday.

A securities filing on Friday discussed topics including deal consideration, ownership stakes and executive compensation.

Bridger said in August that the combination would value it at an implied $869 million pro forma enterprise value. It said early investor Blackstone Inc. would retain two board seats.

Other shareholders include JPMorgan Chase Funding Inc., Avenue Capital and Barings LLC.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

January 27, 2023 13:08 ET (18:08 GMT)

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