Redwire To Become Publicly Traded Through Merger With Genesis Park Acquisition Corp.

Author: Benzinga Newsdesk | March 25, 2021 06:05am

Redwire is a pure play space infrastructure company providing critical technology and services to fast-growing national security, civil, and commercial markets
- Global space economy growing rapidly, projected to exceed $2 trillion in 2040
- Business combination values Redwire at a pro forma enterprise value of $615 million; transaction expected to deliver approximately $170 million cash to the Redwire balance sheet (assuming no redemptions)
- Includes a fully committed and oversubscribed $100 million common stock PIPE with participation by Senvest Management, LLC and Crescent Park Management, L.P.
- Proven management team and 50+ years of space heritage and deep customer relationships in space and aerospace
- Undisputed leader in rapidly expanding 3D printing/manufacturing and robotic assembly in space, which is critical to the future of space infrastructure solutions
- Strong financial foundation with current revenue, EBITDA, and free cash flow
- Projected 2021 revenue of $163 million and forecasted 72% 2021E - 2025E revenue CAGR, with positive and growing Adj. EBITDA and cash flow driven by an over $23 billion pipeline of identifiable contracts
- Current Redwire stockholders, Genesis Park stockholders and PIPE investors will hold shares in the combined company to be listed on the NYSE
 

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