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Bridger Aerospace and Jack Creek Announce Closing of Business Combination

BOZEMAN, Mont. and NEW YORK, Jan. 24, 2023 Bridger Aerospace Group Holdings, LLC (“Bridger” or “Bridger Aerospace”), a leading independent provider of aerial firefighting services, and Jack Creek Investment Corp. (“Jack Creek”) (NASDAQ: JCIC), a special purpose acquisition company, today announced the completion of their previously announced business combination (the “Business Combination”). The combined company will operate as “Bridger Aerospace Group Holdings, Inc.” and its common stock and warrants are expected to begin trading on the Nasdaq Global Market under the ticker symbols “BAER” and “BAERW,” respectively, on January 25, 2023.

The Business Combination was approved at a special meeting of Jack Creek shareholders on January 24, 2023.

“The closing of the transaction and our listing on Nasdaq is an important milestone and an incredibly proud moment for the entire Bridger team,” commented Tim Sheehy, who will continue to lead the combined company as Chief Executive Officer. “We are excited to enter this new chapter as a publicly traded company, uniquely positioned to expand throughout North America and continue our mission to save lives, preserve our environment, and protect the people and communities that are impacted by the growing wildfire crisis across the globe.”

Founded in 2014 and led by former Navy SEAL Tim Sheehy, Bridger is a mission-driven company focused on addressing the year-round threat of economic and environmental damage caused by wildfires. Through its effective, modern, and purposefully designed fleet of aircraft, Bridger provides its federal agency and state government client base with a comprehensive range of aerial firefighting solutions. Bridger operates a large and sophisticated fleet of firefighting aircraft, which includes “Super Scoopers” (CL-415EAF), air attack and logistical support aircraft (Next Generation Daher Kodiaks, Pilatus PC-12s, DeHavilland Twin Otter and legacy Twin Commanders), and UAVs (Unmanned Aerial Vehicles). Bridger also offers FireTRAC, an innovative, proprietary data gathering, aerial surveillance and reporting platform that complements its fleet of firefighting assets.

Bridger has a track record of strong financial performance supported by a recurring revenue model. As climate conditions continue to evolve and create a longer, more intense wildfire season, a consistent and cost-effective solution is required. Bridger’s experience and expertise positions it to be the aerial firefighting solution of choice for federal, state and local governments.

Jack Creek’s Executive Chairman, Jeffrey Kelter, who is joining Bridger’s Board of Directors as Chairman added, “We are excited to finalize our business combination and continue our partnership with the Bridger management team. As a public company, Bridger is well-positioned financially to further expand its industry-leading fleet and explore proprietary strategic investments to complete its growth plans for 2023 and create significant and sustained value for all stakeholders as it works to meet critical environmental and community needs.”

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