Redwire procured various space technology companies in 2020 and is hoping to undergo acquisition with a special-purpose acquisition corporation (SPAC). Redwire stated that it would be merging with Genesis Park Acquisition Corp., which decided to go public last year. The deal will give Redwire $170 million for expansion and raise the company’s value to $615 million. The companies are hopeful that the agreement will go through before the second half of this year.

This move will allow Redwire to trade publicly on the New York Stock Exchange. AE Industrial Partners developed Redwire mid-last year by merging two space technology companies, Adcole Space and Deep Space Systems, which it has procured. Redwire became the new face of merging for this corporation acquiring the likes of Made In Space, which deals in in-space production, Oakman Aerospace – an engineering entity; Deployable Space Systems – a manufacturer of spacecraft structures and solar photovoltaics; and LoadPath and Roccor – a developer of structures.

These mergers have made Redwire a primary company for the space industry to turn to for its services. The head and chief executive of Redwire, Peter Cannito, stated that many people think that the next generation of space activities is a new investment project. He added that Redwire is just doing what most industry players would do by offering unique and ideal technology for the space industry.

The acquisitions have made Redwire be the epitome of Space services, and going public can cushion it to generate more profits and revenues. Last year, the company recorded $119 million in revenue with an additional income of $13 million. The company analysts expect the revenue to clock $163 million this year with an additional EBITDA of $20 million. Such projections will surpass $1 billion in revenue in the next four years with an additional EBITDA of $250 million.

The chief finance officer of Genesis Park Acquisition Corporation, Jonathan Baliff, stated that Redwire could bring more profits and unlocking the space industry for technological expansion. Moreover, the SPAC works efficiently with Redwire allowing for advanced manufacturing and in-space operations. The chief of operations at Redwire, Andrew Rush, observed that the company had procured over 70 million in business operations involving solar sail for the NASA heliophysics mission. Redwire explained that cash is crucial for strategic investments and the development of its operations through the merger. Redwire becomes the latest company to venture into the space industry through public acquisition.