JACKSONVILLE, Fla. and
HOUSTON, Sept. 2, 2021 /PRNewswire/ -- Redwire, a leader
in mission critical space solutions and high reliability components
for the next generation space economy, and Genesis Park Acquisition
Corp. (NYSE: GNPK) ("Genesis Park"), a publicly traded special
purpose acquisition company, announced today the completion of
their previously announced business combination (the "Business
Combination"). The Business Combination was approved by Genesis
Park shareholders at an Extraordinary General Meeting held on
September 1, 2021.
Upon completion of the Business Combination, the combined
company changed its name to Redwire Corporation ("Redwire").
Redwire's shares of common stock and warrants are expected to
commence trading on the NYSE on September 3,
2021 under the new ticker symbols "RDW" and "RDW WS,"
respectively. The transaction values Redwire at a
$620 million pro forma enterprise
value.
Redwire is a proven leader in the space community, providing
complete space infrastructure solutions to its diversified base of
customers in the national security, civil and commercial markets.
With a highly differentiated strategy that combines deep flight
heritage with innovative technology and disruptive IP, Redwire is a
proven partner to major DoD, civil and commercial customers on
cornerstone space programs, and is also shaping the future space
economy with innovative on-orbit 3D printing, advanced robotics,
and digitally designed spacecraft.
Peter Cannito, Chairman and CEO
of Redwire, said, "This is a thrilling day for our team, and this
milestone achievement is the culmination of the hard work and
unmatched innovation of our talented employees. We are
grateful for the support of our shareholders and to our partners at
Genesis Park and AE Industrial Partners for their continued
commitment to Redwire. As a public company in this second
golden age of space, we will be in an even better position to
deliver value to our customers' missions, help to shape the
commercialization of the new space economy and, ultimately,
accelerate humanity's expansion into space with our growing
portfolio of breakout space infrastructure solutions."
Paul Hobby, CEO of Genesis Park,
said, "We are pleased to continue supporting Redwire's
best-in-class team, and we believe the company is well-positioned
as a market leader with plentiful opportunities to drive value for
shareholders."
Kirk Konert, Partner at AE
Industrial Partners, said, "We are proud to support Redwire's
journey to become a public company and beyond. As a
purpose-built, pure-play space company with deep heritage and
disruptive technology, Redwire has a unique opportunity to drive
value as a space industry leader."
Advisors
Jefferies is serving as financial advisor and Kirkland &
Ellis LLP is serving as legal counsel to Redwire. Greenhill and
KPMG are serving as financial advisors, Jefferies is serving as
sole placement agent for the PIPE and capital markets advisor, and
Willkie Farr & Gallagher LLP is
serving as legal counsel to Genesis Park.
About Redwire
Redwire is a new leader in mission critical space solutions and
high reliability components 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.
About Genesis Park Acquisition Corp.
Genesis Park is a publicly traded special purpose acquisition
company sponsored by an affiliate of Genesis Park, trading on
the NYSE under the ticker symbol NYSE: GNPK. GNPK is one of the
first aerospace and aviation services special purpose acquisition
companies, and pursued and capitalized on the operational and
investment experience of the GNPK management team and Board of
Directors by focusing on companies that have significant growth
prospects in the aerospace and aviation services sector.
About AE Industrial Partners
AE Industrial Partners is a private equity firm specializing in
Aerospace, Defense & Government Services, Space, Power
Generation, and Specialty Industrial markets. AE Industrial
Partners invests in market-leading companies that can benefit from
its deep industry knowledge, operating experience, and
relationships throughout its target markets. AE Industrial Partners
is a signatory to the United Nations Principles for Responsible
Investing. Learn more at www.aeroequity.com.
Contacts
Media: Austin
Jordan
321-536-8632
Austin.jordan@redwirespace.com
OR
Investors:
investorrelations@redwirespace.com
Reevemark
Paul
Caminiti/Delia
Cannan/Pam Greene
212-433-4600
redwire@reevemark.com
Forward Looking Statements
This document includes "forward looking statements" within the
meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
"forecast," "intend," "seek," "target," "anticipate," "believe,"
"expect," "estimate," "plan," "outlook," and "project" and other
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. Such
forward looking statements with respect to revenues, earnings,
performance, strategies, prospects and other aspects of the
businesses of Genesis Park Acquisition Corp., Redwire or the
combined company after completion of the Business Combination are
based on current expectations that are subject to risks and
uncertainties.
A number of factors could cause actual results or outcomes to
differ materially from those indicated by such forward looking
statements. These factors include, but are not limited to: (1) risk
that the transaction disrupts current plans and operations of
Redwire; (2) the ability to recognize the anticipated benefits of
the Business Combination, which may be affected by, among other
things, competition, the ability of the combined company to grow
and manage growth profitably, maintain relationships with customers
and suppliers and retain its management and key employees; (3)
costs related to the Business Combination; (4) changes in
applicable laws or regulations; (5) the possibility that Redwire
may be adversely affected by other economic, business, and/or
competitive factors; and (6) other risks and uncertainties
indicated from time to time in other documents filed or to be filed
with the SEC by Genesis Park Acquisition Corp or the combined
company. You are cautioned not to place undue reliance upon any
forward-looking statements, which speak only as of the date made.
Genesis Park Acquisition Corp. and Redwire undertake no commitment
to update or revise the forward-looking statements, whether as a
result of new information, future events or otherwise, except as
may be required by law.
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SOURCE Redwire; Genesis Park Acquisition Corp.
