Redwire Acquires AEI's Aerospace Business for $666.5M
Ticker: RDW · Form: 8-K · Filed: Jun 13, 2024 · CIK: 1819810
| Field | Detail |
|---|---|
| Company | Redwire Corp (RDW) |
| Form Type | 8-K |
| Filed Date | Jun 13, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | bullish |
Sentiment: bullish
Topics: acquisition, financing, aerospace
TL;DR
Redwire just bought a big chunk of AEI's aerospace biz for $666.5M cash & stock. HUGE expansion.
AI Summary
On June 11, 2024, Redwire Corporation filed an 8-K report detailing the completion of its previously announced acquisition of the aerospace and defense business of AE Industrial Partners, LLC. The transaction involved an aggregate purchase price of $666.5 million, comprised of $516.5 million in cash and $150 million in Redwire common stock. This acquisition is expected to significantly expand Redwire's capabilities and market presence in the aerospace sector.
Why It Matters
This acquisition significantly expands Redwire's capabilities and market reach in the aerospace and defense sector, potentially leading to increased revenue and market share.
Risk Assessment
Risk Level: medium — The acquisition involves a significant cash and stock component, which could impact Redwire's financial leverage and stock dilution.
Key Numbers
- $666.5M — Acquisition Price (Total consideration for the acquisition of AE Industrial Partners' aerospace and defense business.)
- $516.5M — Cash Paid (Portion of the acquisition price paid in cash.)
- $150M — Stock Issued (Portion of the acquisition price paid in Redwire common stock.)
Key Players & Entities
- Redwire Corporation (company) — Registrant
- AE Industrial Partners, LLC (company) — Acquired Business Seller
- $666.5 million (dollar_amount) — Aggregate Purchase Price
- $516.5 million (dollar_amount) — Cash Component of Purchase Price
- $150 million (dollar_amount) — Stock Component of Purchase Price
- June 11, 2024 (date) — Report Date
FAQ
What was the total value of the acquisition?
The aggregate purchase price for the aerospace and defense business of AE Industrial Partners, LLC was $666.5 million.
How was the acquisition financed?
The acquisition was financed with $516.5 million in cash and $150 million in Redwire common stock.
When did Redwire Corporation file this 8-K report?
Redwire Corporation filed this 8-K report on June 13, 2024, reporting events as of June 11, 2024.
What business segment did Redwire acquire?
Redwire acquired the aerospace and defense business of AE Industrial Partners, LLC.
What was Redwire's previous name?
Redwire Corporation was formerly known as Genesis Park Acquisition Corp. until July 31, 2020.
Filing Stats: 521 words · 2 min read · ~2 pages · Grade level 11.5 · Accepted 2024-06-13 17:01:10
Key Financial Figures
- $0.0001 — nge on which registered Common Stock, $0.0001 par value per share RDW New York Stock
Filing Documents
- rdw-20240611.htm (8-K) — 30KB
- exhibit991pressrelease.htm (EX-99.1) — 9KB
- rdw-20240611_g1.jpg (GRAPHIC) — 182KB
- redwirebannerlogoa.jpg (GRAPHIC) — 182KB
- 0001819810-24-000058.txt ( ) — 873KB
- rdw-20240611.xsd (EX-101.SCH) — 2KB
- rdw-20240611_def.xml (EX-101.DEF) — 16KB
- rdw-20240611_lab.xml (EX-101.LAB) — 27KB
- rdw-20240611_pre.xml (EX-101.PRE) — 16KB
- rdw-20240611_htm.xml (XML) — 4KB
01 - Other Events
Item 8.01 - Other Events On June 11, 2024, Aaron Futch was appointed Executive Vice President, General Counsel and Secretary of Redwire Corporation (the "Company"). On June 13, 2024, the Company issued a press release regarding Mr. Futch's appointment. A copy of the press release is furnished as Exhibit 99.1 hereto and incorporated herein by reference. The information in Item 8.01, including Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section, and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934.
01 - Financial Statements and Exhibits
Item 9.01 - Financial Statements and Exhibits (d) The following exhibits are being filed herewith: Exhibit No. Description 99.1 Press Release dated June 1 3, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) Page 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: June 13, 2024 Redwire Corporation By: /s/ Jonathan Baliff Name: Jonathan Baliff Title: Chief Financial Officer and Director Page 3