Redwire, a provider of space services and components for the next generation space economy, and Genesis Park Acquisition Corp. (NYSE: GNPK), a publicly traded special purpose acquisition company, have completed their business combination.
Upon completion of the Business Combination, the combined company changed its name to Redwire Corporation (“Redwire”). Redwire’s shares of common stock and warrants are expected to commence trading on the NYSE under the new ticker symbols “RDW” and “RDW WS,” respectively. The transaction values Redwire at a $620 million pro forma enterprise value.
Redwire is a provider of space infrastructure solutions to a base of customers in the national security, civil and commercial markets.
Peter Cannito, chairman and CEO of Redwire, said, “This is a thrilling day for our team, and this milestone achievement is the culmination of the hard work and unmatched innovation of our talented employees. We are grateful for the support of our shareholders and to our partners at Genesis Park and AE Industrial Partners for their continued commitment to Redwire. As a public company in this second golden age of space, we will be in an even better position to deliver value to our customers’ missions, help to shape the commercialization of the new space economy and, ultimately, accelerate humanity’s expansion into space with our growing portfolio of breakout space infrastructure solutions.”
Paul Hobby, CEO of Genesis Park, said, “We are pleased to continue supporting Redwire’s best-in-class team, and we believe the company is well-positioned as a market leader with plentiful opportunities to drive value for shareholders.”
Kirk Konert, partner at AE Industrial Partners, said, “We are proud to support Redwire’s journey to become a public company and beyond. As a purpose-built, pure-play space company with deep heritage and disruptive technology, Redwire has a unique opportunity to drive value as a space industry leader.”
Jefferies is serving as financial advisor and Kirkland & 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 is serving as legal counsel to Genesis Park.