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Redwire and Genesis Park Acquisition Corp. announced the completion of their business combination, approved by shareholders on September 1, 2021. Following the merger, Redwire commenced trading on September 3, 2021, under ticker symbols RDW and RDW WS. The deal values Redwire at a pro forma enterprise value of $620 million. Redwire specializes in mission-critical space solutions, serving diverse customers in national security, civil, and commercial markets. The leadership emphasizes the role of Redwire in pioneering the new space economy through innovative technologies.
Genesis Park Acquisition Corp. (GNPK) announced that shareholders approved the business combination with Redwire, a leader in space solutions, at an extraordinary general meeting held on September 1, 2021. Approximately 97% of votes cast, representing around 73% of outstanding shares, supported the merger. Following the approval and certain closing conditions, the business combination is expected to be completed around September 2, 2021. Post-merger, the new entity will operate as Redwire Corporation, with stock trading beginning on September 3, 2021.
Genesis Park Acquisition Corp. (NYSE: GNPK) announced that the SEC has declared effective its registration statement related to its business combination with Redwire. The extraordinary general meeting will take place on September 1, 2021, for shareholders to vote on the merger. Upon completion, the combined entity will be known as Redwire Corporation and trade under the ticker symbol 'RDW.' The transaction values Redwire at a pro forma enterprise value of $615 million, with expectations of $170 million cash injected into the balance sheet, supported by a $100 million PIPE investment.
Redwire and Genesis Park Acquisition Corp. will present at the 41st Annual Canaccord Genuity Growth Conference on August 11 and 12, 2021, respectively. Redwire's CEO Peter Cannito and CFO Bill Read will present on August 11 at 11:30 a.m. Eastern, while Genesis Park's President Jonathan Baliff will speak on August 12 at 3:30 p.m. Eastern. Live webcasts will be available on their websites, with replays accessible for 365 days. This follows the proposed business combination announced on March 25, 2021, expected to close in Q3 2021.
Genesis Park Acquisition Corp. (NYSE: GNPK) and Redwire will host a virtual Analyst Day on July 9, 2021, from 9:00am ET to 12:00pm ET. The event will feature presentations from executive teams of both companies, including Redwire's CEO Peter Cannito and CFO Bill Read. This follows their proposed business combination announced on March 25, 2021, expected to close in the third quarter of 2021. Interested parties can access the webcast on Redwire's official website.
Redwire and Genesis Park Acquisition Corp. (GNPK) have announced a definitive merger agreement, aiming for completion by the end of Q2 2021. This merger will make Redwire a publicly traded company. Redwire specializes in critical space infrastructure and has over 50 years of flight experience, with 150 missions flown. The merger is projected to yield $615 million in pro forma enterprise value and an estimated revenue CAGR of 72%, growing from $163 million in 2021 to $1.4 billion by 2025. The transaction will provide approximately $170 million cash to Redwire's balance sheet.
