Redwire Announces $80 Million B. Riley Committed Equity Facility

Rhea-AI Summary

Redwire Corporation (NYSE: RDW) announced a common stock purchase agreement worth $80 million with B. Riley Principal Capital, LLC. This agreement allows Redwire to raise capital flexibly over the next 24 months, aiming to support growth initiatives, including acquisitions and working capital investments. CEO Peter Cannito emphasized the importance of financial flexibility in executing their growth strategy. This press release serves as an informational announcement and does not constitute an offer to sell or buy Redwire's common stock.

Positive

• Entered into an $80 million stock purchase agreement, enhancing financial flexibility.
• Capital can be raised as needed to support growth initiatives, including acquisitions.

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• None.

Facility Provides Flexibility to Fuel Growth Strategy

JACKSONVILLE, Fla.--(BUSINESS WIRE)-- Redwire Corporation (NYSE: RDW; “Redwire” or “the Company”), a leader in mission critical space solutions and high reliability components for the next generation space economy, today announced that it has entered into an $80 million common stock purchase agreement with B. Riley Principal Capital, LLC (“B. Riley”) to further support its growth strategy through initiatives such as accretive acquisitions and internal investments, to bolster working capital, and/or for general corporate purposes. The agreement governs a committed equity facility that provides the Company with the right, without obligation, to sell and issue up to $80 million of its common stock over a period of 24 months to B. Riley at the Company’s sole discretion, subject to certain limitations and conditions.

“Redwire is a rapidly growing leader in space. Having financial flexibility is key to successfully executing our growth strategy,” said Peter Cannito, Chairman and CEO. “We have evaluated the capital markets and believe that this agreement is the most cost-effective option to provide incremental capital when needed to thoughtfully fuel growth. The agreement allows us the discretion to raise additional capital when market conditions are favorable and there is a specific need.”

This press release is for informational purposes only and it does not represent an offer to sell or the solicitation of an offer to buy any of the Company’s common stock. There will be no sale of common stock in any jurisdiction in which one would be unlawful.

Further details are contained in a Current Report on Form 8-K filed with the Securities and Exchange Commission on April 15, 2022.

About Redwire

Redwire Corporation (NYSE: RDW) is a leader in space infrastructure for the next generation space economy, with valuable IP for solar power generation and in-space 3D printing and manufacturing. With decades of flight heritage combined with the agile and innovative culture of a commercial space platform, Redwire is uniquely positioned to assist its customers in solving the complex challenges of future space missions. For more information, please visit www.redwirespace.com.

Forward Looking Statements

This press release may contain “forward-looking statements” about Redwire's future expectations, plans, outlook, projections and prospects. Such forward-looking statements can be identified by the use of words such as “should,” “may,” “intends,” “anticipates,” “believes,” “estimates,” “projects,” “forecasts,” “expects,” “plans,” “proposes” and similar expressions. Although Redwire believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2021. Forward-looking statements speak only as of the date of the document in which they are contained, and Redwire does not undertake any duty to update any forward-looking statements except as may be required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220415005203/en/

Investor Contact:

Michael Shannon

investorrelations@redwirespace.com

904-425-1413

Source: Redwire Corporation

FAQ

What is the recent agreement announced by Redwire Corporation on April 15, 2022?

Redwire announced an $80 million common stock purchase agreement with B. Riley Principal Capital, LLC.

How does the $80 million agreement benefit Redwire Corporation?

The agreement provides financial flexibility to support growth strategies through acquisitions and working capital.

What is the duration of the stock purchase agreement for Redwire Corporation?

The agreement allows Redwire to sell stock over a period of 24 months.

Who is involved in Redwire's $80 million stock purchase agreement?

The agreement is made with B. Riley Principal Capital, LLC.

What is the ticker symbol for Redwire Corporation?

The ticker symbol for Redwire Corporation is RDW.