Space infra firm Redwire drops after launching $200 mln stock deal

Redwire

16/06/2025 22:13

** Redwire's RDW.N shares down ~11% to $18.32 in extended trading as space infrastructure technology co looks to raise equity

    ** Jacksonville, Florida
    -based RDW commences $200 mln stock offering

    ** Co says intends to use net offering proceeds for general purposes to fund growth, repurchase portion of its convertible preferred stock, and repay note issued in connection with $925 mln cash-and-stock acquisition of Edge Autonomy

    ** RDW completed Edge Autonomy acquisition last week

    ** JP Morgan, BofA and Morgan Stanley are lead bookrunners for the offering

      ** RDW shares on Mon closed up 7.8% at $20.57. Stock up 25% YTD, including 68% gain over the past month

** Co has ~127 mln

    shares outstanding for ~$2.6 bln market cap

    **

      All 6 analysts covering RDW are bullish and the median PT is $22.50, LSEG data reflects

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))