Redwire Reports Second Quarter Results

JACKSONVILLE, Fla. (Redwire PR) — Redwire Corporation (NYSE: RDW), a new leader in mission critical space solutions and high reliability components for the next generation space economy, today announced results for its second quarter ended June 30, 2022.

Redwire will live stream a presentation with slides. Please use the link below to follow along with the live stream: https://event.choruscall.com/mediaframe/webcast.html?webcastid=f52OeAqX

Q2 2022 Highlights

  • Revenue increased $4.6 million, or 14.2%, to $36.7 million for the three months ended June 30, 2022, from $32.1 million for the three months ended June 30, 2021.
  • Successful delivery of proven and differentiated products and services for multiple National Security Space (“NSS”) and commercial customers, including for multi-year, multi-shipset missions.
  • Operational successes have led to additional work and cross-selling of higher gross margin products and services with improved on-time deliveries, including for large solar array programs and navigation component projects.
  • Investments continue to expand production capacity and increase scale and execution efficiency; opened new facility in Luxembourg to specialize in design and development of robotic arms for orbital, free-flying and lunar missions.
  • Our significantly higher 1.68 book-to-bill ratio1, combined with increased gross margins, provides for an improved financial outlook for the second half of 2022 and 2023.
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Redwire Announces Supplier Agreement with Terran Orbital to Support Satellite Manufacturing

JACKSONVILLE, Fla. (Redwire PR) — Redwire Corporation (NYSE: RDW), a global leader in mission critical space infrastructure for the next generation space economy, today announced a three-year supplier agreement with Terran Orbital, a global leader and pioneer in the development, innovation and operation of small satellites and Earth observation solutions.

Through this agreement, Redwire will deliver a range of advanced components and solutions that will be used in Terran Orbital’s industry-leading line of satellite manufacturing and service offerings. Terran Orbital recently announced that it intends to go public through a merger with special purpose acquisition company Tailwind Two Acquisition Corp.

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Redwire Acquires Space Biotechnology Leader Techshot

JACKSONVILLE, Fla., November 2, 2021 (Redwire PR) – Redwire Corporation (NYSE: RDW), a leader in space infrastructure for the next generation space economy, today announced that it has acquired Techshot, Inc., a leader in biotechnology in microgravity, bioprinting, and on-orbit manufacturing needed for commercial space-based research and development.  

“Techshot’s space bioprinting and other proven biotech solutions in microgravity are some of the most consequential innovations in Low Earth Orbit (LEO) with life-saving benefits on and off our home planet,” said Peter Cannito, Chairman and CEO of Redwire. “Adding Techshot’s leading position in commercial space biotechnology with Redwire’s leading position in on-orbit material manufacturing adds significant scale and synergy to our commercial space offerings.  This is a giant leap forward in our vision for people living and working in space for the benefit of the terrestrial economy.” 

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Redwire Announces State-of-the-Art Digital Engineering Laboratory to Enable Next Generation Space Architectures

Credit: Redwire

JACKSONVILLE, Fla., August 19, 2021 (Redwire PR) – Redwire, a leader in mission critical space solutions for the next generation space economy, announced today initial operational capability for its investment in a first-of-its-kind digital engineering environment, the Hyperion Operational Space Simulation Laboratory (HOSS). The state-of-the-art facility leverages the full suite of Redwire digital engineering capabilities, including software- and hardware-in-the-loop configurations, to enable next generation space architectures and solutions, such as advanced artificial intelligence, machine learning and cyber technologies.

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Genesis Park Acquisition Corp, Redwire Move Forward on Going Public

JACKSONVILLE, Fla. and HOUSTON, Aug. 11, 2021 (Genesis Park Acquisition Corp. PR) — Genesis Park Acquisition Corp. (NYSE: GNPK) (“Genesis Park”), a publicly traded special purpose acquisition company, announced today that the U.S. Securities and Exchange Commission (“SEC”) has declared effective its registration statement on Form S-4 (File No. 333-257710), which includes Genesis Park’s definitive proxy statement/prospectus in connection with Genesis Park’s Extraordinary General Meeting of shareholders relating to the previously announced business combination (the “Business Combination”) with Redwire.

The Extraordinary General Meeting of Genesis Park’s shareholders will be held at 10:00 a.m. Eastern Time on September 1, 2021 in connection with the Business Combination. The proxy statement/prospectus is being mailed to the Company’s shareholders of record as of the close of business on August 2, 2021 (the “Record Date”).

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Redwire to Go Public Via SPAC via Merger with Genesis Park Acquisition Corp.

  • 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

JACKSONVILLE, Fla. and HOUSTON, March 25, 2021 (Redwire PR) — Redwire (or “the Company”), a leader in mission-critical space solutions and high reliability components for the next generation space economy, and Genesis Park Acquisition Corp. (NYSE: GNPK) (“Genesis Park”), a publicly traded special purpose acquisition company, announced today that they have entered into a definitive merger agreement that will result in Redwire becoming a publicly traded company. The transaction is expected to be completed by the end of the second quarter of 2021, and at that time, Genesis Park Acquisition Corp. will change its name to Redwire and the company will trade on the NYSE.

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Redwire Acquires Deployable Space Systems (DSS), a Leading Supplier of Space Mission-Enabling Deployable Solar Arrays, Structures and Mechanisms

JACKSONVILLE, Fla. February 23, 2021 (Redwire PR) – Redwire, a new leader in mission critical space solutions and high reliability components for the next generation space economy, announced today that it has acquired Deployable Space Systems, Inc. (DSS), a leading supplier of mission-enabling deployable solar arrays, structures and mechanisms for space applications. Terms of the transaction were not disclosed.

“DSS has an unmatched reputation for innovative deployable space technologies and infrastructure, and that is a perfect fit for Redwire’s technology portfolio,” said Peter Cannito, Chairman and CEO of Redwire. “These new capabilities will expand our set of space infrastructure solutions and deliver even greater value to our customers.”

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Redwire Acquires Oakman Aerospace, a Leading Digitally Engineered Spacecraft and Satellite Design Firm

JACKSONVILLE, Fla., January 19, 2021 (Redwire PR) – Redwire, a new leader in mission critical space solutions and high reliability components for the next generation space economy, announced today that it has acquired Oakman Aerospace, Inc. (OAI) a leading provider of cutting-edge products and services related to digital engineering, spacecraft and satellite design and development, mission payload development, and data distribution services. Terms of the transaction were not disclosed.

“Oakman Aerospace adds a critical capability in digital engineering that will significantly enhance our space infrastructure solutions,” said Peter Cannito, Chairman and CEO of Redwire. “Their modular open systems architecture design and development approach and proprietary commercial off-the-shelf software suite is transforming the way future space capabilities are designed, developed, deployed and operated.”

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Redwire Names Andrew Rush as President and Chief Operating Officer

JACKSONVILLE, Fla., January 5, 2021– Redwire, a new leader in mission critical space solutions and high reliability components for the next generation space economy, announced today that Redwire Chief Operating Officer Andrew Rush has been promoted to the position of President and Chief Operating Officer, effective January 1, 2021.

In this expanded role, Mr. Rush will manage the day-to-day operations of Redwire while assisting the CEO and Board of Directors in developing and executing the company’s long-term growth strategy. Additionally, Mr. Rush will oversee the development and implementation of Redwire policies and procedures, integration of new acquisitions, and execution of all technical programs. 

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Redwire Acquires LoadPath, a Leading Developer of Payload Adapters for the Space Industry

JACKSONVILLE, Fla., December 15, 2020 (Redwire PR) – Redwire, a new leader in mission critical space solutions and high reliability components for the next generation space economy, announced today that it has acquired LoadPath, a leading developer of payload adapters, deployable structures, and thermal products for the space industry. Terms of the transaction were not disclosed.

“LoadPath brings market-leading capabilities to augment Redwire’s space infrastructure portfolio and broaden our range of technology products and services to support our customers’ missions,” said Peter Cannito, Chairman and CEO of Redwire. “We are excited to work with Adam and Greg and the LoadPath team to leverage their impressive technology flight heritage and advance their capabilities as a part of Redwire.”

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Redwire Appoints New Made in Space President

JACKSONVILLE, Fla., November 4, 2020 (Redwire PR) – Redwire, a new leader in mission critical space solutions and infrastructure for the next generation space economy, announced today the hiring of Thomas (Tom) B. Campbell as the new president of its subsidiary, Made In Space, effective October 26.

As a proven business leader and industry expert on space antennas and structures, Mr. Campbell will oversee Made In Space’s product and technology portfolio within Redwire’s broader innovation ecosystem, reporting to Redwire Chairman and CEO Peter Cannito. Campbell succeeds former Made In Space President Andrew Rush, who will fully assume his responsibilities as Redwire Chief Operating Officer.

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Redwire Acquires Roccor, a Manufacturer of Critical Systems for Satellite Industry

JACKSONVILLE, Fla., October 29, 2020 (Redwire PR) – Redwire, a new leader in mission critical space solutions and high reliability components for the next generation space economy, announced today that it has acquired Roccor, a disruptive military and commercial hardware supplier in the rapidly growing small satellite market and a premier manufacturer of deployable booms, structures, antennas, thermal products, and solar arrays for the space industry. Terms of the transaction were not disclosed.

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Redwire Selects Jacksonville, Florida for its New Corporate Headquarters

JACKSONVILLE, Fla., September 15, 2020 (Redwire PR) – Redwire, a new leader in mission critical space solutions and high reliability components for the next generation space economy, announced today that it has selected Jacksonville, Florida for its corporate headquarters location.

“We are excited that Jacksonville will be the center of our innovation ecosystem as we continue to position Redwire as the leading developer of cutting-edge space technology and space infrastructure,” said Peter Cannito, chairman and chief executive officer of Redwire. “By strengthening our presence in Florida, we will have access to a skilled aerospace workforce, strategic partnerships, and operational infrastructure to support our growth.”

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Redwire Names Government Industry Veteran Peter Cannito as Chairman and CEO

Next Generation Space Technology Company was Formed by AE Industrial Partners Earlier this Month

BOCA RATON, Fla., June 11, 2020 (Redwire PR) — Redwire, a new leader in mission critical space solutions and high reliability components for a next generation space architecture, announced today that Peter Cannito has been named Chairman and CEO, effective immediately. Mr. Cannito brings more than 25 years of experience in the defense, technology, and government services industries to Redwire.

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