Redwire is a multifaceted space company. It aims to cover different services including orbit servicing, LEO commercialization, digitally engineered spacecraft and advanced sensors.
Redwire agreed to go public on 3/24 with SPAC Genesis Park Acquisition. The vote passed on 9/1 and started trading under RDW on 9/3. Redwire received 166 million cash and 100 million in PIPE at $10 per share.
Here is s-1 filling submitted 9/23 Inline XBRL Viewer
I cannot get a good source but read that pipe unlocked on 10/4. This lines up with 10-15 day wait for PIPE to typically unlock after S-1 filling. 5.8 million of 10 million PIPE should be freed up. The remaining 1.3 million being long term investors and 2.9 million boxed holders.
Redwire said it was already profitable, with revenue of $119 million and EBITDA of $13 million in 2020. By 2025, the company expects to grow to $1.4 billion in revenue with an adjusted EBITDA of $250 million.
My original thread creation was based on this YouTube video and time stamp: Made in Space/Redwire Space at UC Berkeley - YouTube
That’s Alicia Carey, Lead Program Manager at Redwire talking at a Berkeley seminar that they had on September 30. This means the announcement would come at the end of October or early November.
For those who got in early, there was different news released by luck on 10/12. It was announced that redwire supplied sensors to NASA’s project Lucy set to launch no earlier than 10/16. The sensors were accepted in July 2020 through Lockheed Martin. The stock price ran up from 9.50 to 12.50 starting 10/12 to 10/14. From 10/14 the price has peaked and slowly declined but had also seen 19 million in volume.
Redwire apparently makes quality space products and can get them sold and used in NASA projects. The Amazon news could be nothing or it may never come. However price movement from the project Lucy involvement is confirmation bias on the price movement a partnership with Amazon can have.
This seems like a great stock to hold long term especially if you believe the outlook. As for me I’m playing this for run up from news and profiting. I have November calls and will be willing to ditch them if we don’t hear anything by mid or early November.
