Redwire to become public company

Redwire, a company formed by private-equity firm AE Industrial Partners last year, is now set to become a publicly traded company.

In an announcement today, the space company said it has agreed to merge with Genesis Park Acquisition, a special purpose acquisition company, in a transaction that will make Redwire publicly traded by the end of June. The company will trade on the New York Stock Exchange.

Redwire was formed last summer when AE combined portfolio companies Adcole Space and Deep Space Systems. Redwire has since added other companies, including Made In Space.

Redwire specializes in space infrastructure technology and services, including on-orbit servicing, assembly and manufacturing capabilities.

The company said the transaction would enable it "to accelerate and de-risk growth plans and pursue targeted acquisitions."

Under the terms of the deal, “Redwire’s existing stockholders will hold approximately 55% of the fully diluted shares of common stock immediately following the closing of the business combination, assuming no redemptions by Genesis Park’s existing public stockholders.”

“AE Industrial Partners will remain a significant shareholder in Redwire following the completion of the proposed merger,” the company added.

Peter Cannito, Redwire’s chief executive, will continue to lead the company.