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 Selected As Solar Array Supplier for PlanetiQ Constellation Spacecraft

JACKSONVILLE, Fla., March 9, 2021 (Redwire PR) – Redwire, a new leader in mission critical space solutions and high reliability components for the next generation space economy, has been selected by PlanetiQ, a commercial weather satellite constellation operator, to supply solar arrays for their HD GPS-RO weather satellites. The contract will include delivery of a 130-watt solar array for PlanetiQ’s spacecraft. The agreement marks PlanetiQ’s third flight contract for Redwire’s solar arrays. Previously, Redwire’s subsidiary Roccor delivered two sets of solar arrays to PlanetiQ, dating back to 2018. 

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Space Crystals: Developing Laser Optics Products in Space

KDP seed crystals alongside the ICF Flight mission patch. (Credit: Redwire)

JACKSONVILLE, Fla. (Redwire PR) — The Industrial Crystallization Facility (ICF) is a commercial in-space manufacturing device designed to provide proof-of-principle for diffusion-based crystallization methods to produce high-quality optical crystals in microgravity relevant for terrestrial use. ICF was launched to the International Space Station (ISS) on Northrop Grumman’s CRS-15 on February 20. 

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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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Several Technology Development Payloads Sponsored by the ISS National Lab Launching on Northrop Grumman CRS-15

The S.S. Kalpana Chawla begins the second phase of its mission after leaving the International Space Station. (Credit: NASA)

KENNEDY SPACE CENTER, Fla., February 17, 2021 (CASIS PR) – On Saturday, February 20, no earlier than 12:36 p.m. EST, Northrop Grumman is scheduled to launch its Cygnus spacecraft on an Antares rocket to the International Space Station (ISS), marking its 15th mission under NASA’s Commercial Resupply Services (CRS) program.

The launch, which will take place from NASA’s Wallops Flight Facility in Virginia, will deliver thousands of pounds of critical supplies and research to the space station. Moreover, many of the payloads on this mission showcase the diversity of research sponsored by the ISS U.S. National Laboratory, with investigations in the physical and life sciences, materials research, and the validation of new facilities that further research and development in low Earth orbit.

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Redwire Selected to Develop Deployable Systems for NASA’s Solar Cruiser Mission

The technology demonstration mission will expand agile sailcraft technology and scientific discovery

JACKSONVILLE, Fla., January 26, 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 its subsidiary Roccor has been awarded a subcontract to support NASA’s Solar Cruiser technology demonstration mission funded through NASA’s Science Mission Directorate. Roccor was selected by NASA to develop the deployable structure for a nearly 18,000 square foot (1,600 m2) solar sail that will allow solar scientists to view the sun from different perspectives—and stay in orbit longer—than before. 

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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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Momentus Selects Redwire to Develop Robotics Systems for Reusable In-Space Transportation Vehicle

Artist’s conception depicting a Made In Space Europe robotic arm fixed to a Momentus Vigoride spacecraft. (Credit: Made in Space Europe)

JACKSONVILLE, Fla., January 14, 2021 (Redwire PR) – Redwire, a new leader in mission critical space solutions and high reliability components for the next generation space economy, has been selected by Momentus, a commercial space company offering in-space infrastructure services, to develop robotics systems for their next generation Vigoride in-space transportation vehicle. The multi-phase contract will include a system architecture study and delivery of a flight-qualified robotics system that will operate on a flight demonstration in 2022. The agreement builds on the Memorandum of Understanding between Redwire and Momentus that was announced in September 2020.

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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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Space Florida Looks Back on a Busy Year

EXPLORATION PARK, Fla. (December 23, 2020) – Today, Space Florida shared the many accomplishments of Florida’s aerospace and commercial space industry in 2020. During the COVID-19 pandemic, Florida’s Cape Canaveral Spaceport kept launching rockets. In May, the world watched as American astronauts lifted off from Florida for the first time since 2011, marking a new era of human spaceflight and commercial space exploration. The aerospace industry represents a key part of the State’s strategy for post-pandemic economic recovery, and Space Florida has good reason to be enthusiastic about the future of aerospace.

“Despite the challenges that COVID-19 brought to the State, our industry and our organization, Space Florida is pleased to have had a successful year of growth within the aerospace industry here in the State of Florida, with support from Governor DeSantis as well as our Board Chair and Lieutenant Governor Nuñez,” said Space Florida President and CEO Frank DiBello. “Space Florida is working with other economic development partners to create an energized driving force in recruiting these companies to the Sunshine State. The future of this industry is very bright, representing an increasingly important segment of Florida’s economy.

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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 Technology Successfully Manufactures Ceramic Part in Space for the First Time

World’s first-ever demonstration of ceramic additive manufacturing in space

JACKSONVILLE, Fla. (Redwire PR) – Redwire, a new leader in mission critical space solutions and high reliability components for the next generation space economy, announced today that the company’s Ceramic Manufacturing Module (CMM) successfully manufactured a ceramic part in space for the first time.

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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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