Redwire, a provider of space services and high reliability components for the next generation space economy, and Genesis Park Acquisition Corp., a publicly traded special purpose acquisition company, have entered into a definitive merger agreement that will result in Redwire becoming a publicly traded company. Genesis Park Acquisition Corp. will change its name to Redwire and the company will trade on the New York Stock Exchange.
Peter Cannito, chairman and CEO of Redwire said, “Redwire is supplying the picks and shovels that enable nearly every space mission, supporting initiatives to help us better understand our planet, transform our space security infrastructure, and move humanity deeper into our solar system. We are thrilled to enter into this business combination with Genesis Park. With their extensive aerospace, operational and financial expertise and strong industry relationships, we are confident that Genesis Park is the right partner to propel Redwire’s growth in the public market.”
Paul Hobby, CEO and director of Genesis Park, added, “Redwire is a proven, solidly profitable player in the space community and the undisputed leader in on-orbit 3D printing, servicing, assembly, and manufacturing. We also believe there is significant opportunity to accelerate growth through strategic combinations in the fragmented space landscape. Redwire has established itself as a first-mover consolidator and an acquirer of choice, and we believe its position will be further improved as a public company.”
AE Industrial Partners will remain a significant shareholder in Redwire following the completion of the proposed merger.
Kirk Konert, partner at AE Industrial Partners, said, “With this transaction, Redwire will have even greater opportunities to drive growth and value by delivering tailored, responsive solutions for its growing customer base across the public and private sectors.”
Jefferies is serving as financial advisor and Kirkland and Ellis LLP is serving as legal counsel to Redwire. Greenhill and KPMG are serving as financial advisors, Jefferies is serving as sole placement agent for the PIPE and capital markets advisor, and Willkie Farr & Gallagher LLP and Sheppard, Mullin, Richter & Hampton LLP are serving as legal counsel to Genesis Park.