Good afternoon. I'm Kevin McAleenan, CEO of BigBear.ai Holdings, Inc. I'll be the chair of today's meeting. I'm very happy to welcome you to BigBear.ai's reconvened special meeting of stockholders, which is a continuation of our special meeting convened on March 31, 2025, and adjourned due to a lack of quorum. We're hosting this meeting as a virtual meeting, which allows us to be more inclusive and reach a greater number of our stockholders. All stockholders present today are attending via the web portal. Available at the bottom of your screen are our rules of conduct for the meeting. To conduct an orderly meeting, we ask that participants abide by these rules. It is now 2:00 P.M. Eastern Time on April 11, 2025, and the reconvened meeting is officially called to order.
Also joining us is Mr. Vito Cirone, a representative from Continental Stock Transfer and Trust Company, who will act as the inspector of elections for this meeting. Mr. Cirone has signed the customary oath of office to execute his duties with strict impartiality. As noted previously, we will file this oath with the records of the meeting. We will now proceed with the formal business of the meeting as set forth in the notice of special meeting and proxy statement. The polls open today, April 11, 2025, at 1:45 P.M. Eastern Time. We're voting on all matters before the meeting. If you have not already voted and wish to vote, the polls will remain open until we finish presenting the proposals and close the polls. You do not need to vote during the meeting if you have already voted and do not wish to change your vote.
Our board of directors set February 28, 2025, as the record date for stockholders entitled to vote at this meeting. Continental Stock Transfer and Trust Company has provided a list of stockholders of record at the close of business on the record date. For stockholders who entered a valid 12-digit control number, the list of stockholders of record is available at the bottom of your screen. I also have an affidavit of mailing establishing that notice of this meeting was first distributed or made available on March 13, 2025, to all stockholders of record of the company as of the close of business on February 28, 2025. A copy of the affidavit of mailing will be included with the minutes of the meeting. Mr.
Cerrone, the inspector of elections, has informed me that the stockholders owning at least 33.33% of the voting power of our issued and outstanding shares of capital stock entitled to vote as of the record date are present in proxy or in person. Accordingly, a quorum is present. Therefore, I hereby declare this meeting to be duly convened for the transaction of business. There are two proposals to be considered by the stockholders at today's meeting. The board recommends the stockholders vote for Proposal 1 and for Proposal 2.
Proposal 1 is to approve, for purposes of complying with Section 312.03 of the NYSE Listed Company Manual, the issuance of shares of our common stock upon the conversion of our 6% convertible senior secured notes due 2029, referred to as the new convertible notes, as well as the issuance of shares of our common stock at our option in lieu of cash interest payments on the new convertible notes. Proposal 2 is to approve an adjournment of the special meeting, if necessary, to solicit additional proxies if there are not sufficient votes at the time of the special meeting to approve Proposal 1. There are no other proposals to be brought before the meeting. Any stockholder who hasn't yet voted or wishes to change their vote may do so now by clicking on the voting button on the web portal and following the instructions.
Stockholders who have sent in proxies or voted via telephone or internet and do not want to change their vote do not need to take any further action. Now that everyone has had the opportunity to vote, I declare the polls for the special meeting of stockholders closed. We have been informed by the inspector of elections that the preliminary vote report shows that the issuance of shares of our common stock upon the conversion of our new convertible notes, as well as the issuance of shares of our common stock at our option in lieu of cash interest payments on the new convertible notes, has been approved, and that Proposal 2 is also approved. We will be reporting the final vote results in a Form 8-K to be filed with the SEC within four business days.
The inspector of elections certificate and report on the final tabulation of votes will be included with the minutes of this meeting. It is now 2:04 P.M. Eastern Time. There being no further business to come before the meeting, the special meeting of stockholders at BigBear.ai Holdings is now adjourned. That concludes the formal portion of our meeting. I will now open the floor to questions. Please remember to follow the rules of conduct, especially the time limit. If you would like to be recognized, please submit your question via the online portal in accordance with the instructions provided. We have received no questions. If you submitted a question that was not addressed, we invite you to contact us through our investor relations department at investors@bigbear.ai. With that, this concludes our special meeting.
We appreciate the ongoing commitment and support of our employees and stockholders, and we are excited about the path forward. This concludes our program. Thank you for attending today's meeting and have a great weekend.
The meeting will go on air at a scheduled time on the meeting web page.