Redwire Reschedules Earnings Announcement Due to Potential Accounting Issues

JACKSONVILLE, Fla. (Redwire PR) — Redwire Corporation (NYSE: RDW; “Redwire” or “the Company”) announced yesterday it would reschedule its earnings announcement for the third quarter ended September 30, 2021, which had been previously scheduled for Wednesday, November 10, 2021.

On Friday evening, November 5, 2021, Redwire management was notified by an employee of potential accounting issues with a business subunit. Management promptly informed the independent Audit Committee of the Board of Directors. The Audit Committee has commenced an independent investigation. Given the timing of the recent notification, the Company has not finalized its financial statements and expects to file an NT-10Q. The Company has voluntarily reported the matter to the Securities and Exchange Commission.

Redwire remains confident in its business prospects and, to date, the Company has not identified any material misstatements or restatements of its previously filed financial statements.

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.

Space SPACs Earnings Week

Richard Branson celebrates the first Virgin Galactic trade on the New York Stock Exchange. (Credit Virgin Galactic)

Five space companies that went public by merging with special purpose acquisition companies (SPACs) report earnings this week.

Monday, Nov. 8

Virgin Galactic
5 p.m. EST (22:00 UTC)
https://investors.virgingalactic.com/news/news-details/2021/Virgin-Galactic-Announces-Date-of-Third-Quarter-2021-Financial-Results-and-Conference-Call/default.aspx

Tuesday, Nov. 9

Momentus
5 p.m. EST (22:00 UTC)
https://investors.momentus.space/news-releases/news-release-details/momentus-announces-date-third-quarter-2021-financial-results-and

Wednesday, Nov. 10

Redwire
8:30 a.m. EST (13:30 UTC)
https://ir.redwirespace.com/news-events/press-releases/detail/32/redwire-corporation-to-report-third-quarter-2021-results-on

Spire Global
5 p.m. EST (22:00 UTC)
https://ir.spire.com/news-events/press-releases/detail/76/spire-global-inc-schedules-third-quarter-2021-results

Thursday, Nov. 11

Astra Space
4:30 p.m. EST (21:30 UTC)
https://investor.astra.com/news-releases/news-release-details/astra-report-third-quarter-financial-results-november-11-2021

Redwire Acquires Space Biotechnology Leader Techshot

JACKSONVILLE, Fla., November 2, 2021 (Redwire PR) – Redwire Corporation (NYSE: RDW), a leader in space infrastructure for the next generation space economy, today announced that it has acquired Techshot, Inc., a leader in biotechnology in microgravity, bioprinting, and on-orbit manufacturing needed for commercial space-based research and development.  

“Techshot’s space bioprinting and other proven biotech solutions in microgravity are some of the most consequential innovations in Low Earth Orbit (LEO) with life-saving benefits on and off our home planet,” said Peter Cannito, Chairman and CEO of Redwire. “Adding Techshot’s leading position in commercial space biotechnology with Redwire’s leading position in on-orbit material manufacturing adds significant scale and synergy to our commercial space offerings.  This is a giant leap forward in our vision for people living and working in space for the benefit of the terrestrial economy.” 

(more…)

Tailwind Two Acquisition Corp. Signs Definitive Agreement to Take Terran Orbital Public Using a SPAC; Valuation of $1.58 Billion

  • $345 million cash-in-trust from Tailwind Two
  • $50 million PIPE with participation from AE Industrial Partners, Beach Point Capital, Daniel Staton and Lockheed Martin
  • $75 million of additional financial commitments from Francisco Partners and Beach Point Capital
  • Transaction expected to close in first quarter of 2022

New York, NY. and BOCA RATON, FL. (October 28, 2021) Tailwind Two Acquisition Corp. (NYSE:TWNT) (“Tailwind Two”), a special purpose acquisition company, and Terran Orbital Corporation, the global leader and pioneer in the development, innovation and operation of small satellites and earth observation solutions, jointly announced today that they have entered into a definitive business combination agreement.  Upon the closing of the transaction, the combined company (the “Company”) will operate as Terran Orbital Corporation, with plans to list on the NYSE under the symbol LLAP. The pro forma total enterprise value of the combined companies is approximately $1.58 billion. The transaction is expected to close in the first quarter of 2022.

(more…)

Blue Origin, Sierra Space and Partners Unveil Plans for Orbital Reef Commercial Space Station

Orbital Reef commercial space station (Credit: Orbital Reef)

New Orbital Destination Opens Up Space For Business And Travel, Creating New
Ecosystem

KENT, Wash., October 25, 2021 (Blue Origin/Sierra Space PR) – Blue Origin and Sierra Space today announced plans for Orbital Reef, a commercially developed, owned, and operated space station to be built in low Earth orbit. The station will open the next chapter of human space exploration and development by facilitating the growth of a vibrant ecosystem and business model for the future. Orbital Reef is backed by space industry leaders and teammates including Boeing, Redwire Space, Genesis Engineering Solutions, and Arizona State University.

(more…)

Redwire Shares Surge on First Day of Trading on NYSE

by Douglas Messier
Managing Editor

Shares of space infrastructure and manufacturing conglomerate Redwire (RDW) surged by 16.57 percent on Friday during the company’s first day of trading on the New York Stock Exchange. The stock price rose by $1.74 to $12.24.

The debut came after shareholders of Genesis Park Acquisition Corp. overwhelmingly backed a merger with Redwire on Wednesday. Genesis Park was a special purpose acquisition company (SPAC) that was already traded on NYSE that was established by investors with the goal of finding a company with which to merge and take public.

(more…)

Genesis Park Acquisition Corp. and Redwire Announce Shareholder Approval of the Business Combination

JACKSONVILLE, Fla. and HOUSTON, Sept. 1, 2021 (Genesis Park PR) — Genesis Park Acquisition Corp. (“GPAC”) (NYSE: GNPK), a U.S. publicly-traded special purpose acquisition company, and Redwire, LLC (“Redwire” or the “Company”), a leader in mission critical space solutions and high reliability components for the next generation space economy, announced that at GPAC’s extraordinary general meeting held today (the “Extraordinary General Meeting”), GPAC’s shareholders voted to approve the previously announced proposed business combination between GPAC and Redwire (the “Business Combination”), as well as all other proposals related to the Business Combination. Approximately 97% of the votes cast at the meeting, representing approximately 73% of GPAC’s outstanding shares as of the record date, voted to approve the Business Combination.

(more…)

Redwire Developing Key Technologies to Build Sustainable Lunar Infrastructure

Redwire’s Additive Manufacturing Device, which will be used to run the regolith simulant prints for the Redwire Regolith Print mission. (Credit: Redwire)

JACKSONVILLE, Fla. (NASA PR) — The farther humans go into deep space, the more important it will be to generate products with local materials. Reducing Earth delivery requirements reduces overall mission cost and launch weight.  It also allows for the construction of infrastructure using space-based resources, a practice called in-situ resource utilization (ISRU). NASA is making long term investments to advance ISRU technology across multiple areas, including regolith-based in-space manufacturing and construction.

(more…)

Redwire Announces State-of-the-Art Digital Engineering Laboratory to Enable Next Generation Space Architectures

Credit: Redwire

JACKSONVILLE, Fla., August 19, 2021 (Redwire PR) – Redwire, a leader in mission critical space solutions for the next generation space economy, announced today initial operational capability for its investment in a first-of-its-kind digital engineering environment, the Hyperion Operational Space Simulation Laboratory (HOSS). The state-of-the-art facility leverages the full suite of Redwire digital engineering capabilities, including software- and hardware-in-the-loop configurations, to enable next generation space architectures and solutions, such as advanced artificial intelligence, machine learning and cyber technologies.

(more…)

Firefly Aerospace Selects Redwire as Key Mission Partner in Lunar Lander Mission to Launch in 2023

Blue Ghost lunar lander (Credit: Firefly Aerospace)

JACKSONVILLE, Fla., August 18, 2021 (Redwire PR) – Redwire, a leader in mission critical space solutions and high reliability components for the next generation space economy, has been awarded a subcontract from Firefly Aerospace to provide avionics and critical navigation systems for their Blue Ghost lunar lander. Firefly Aerospace was awarded a contract to deliver a suite of 10 science investigations and technology demonstrations to the Moon in 2023 for  NASA’s Artemis program. The award is part of the agency’s Commercial Lunar Payload Services  (CLPS) initiative, in which NASA is securing the service of commercial partners to quickly land science and technology payloads on the lunar surface.

(more…)

Red Wire Analyst Day Presentation

Video Caption: Analyst day presentation hosted by Redwire and Genesis Park Corporation on July 9th, 2021.

Screen recorded using AMD Radeon software. I’m long Redwire for life.

Copyright and the contents of this video are owned by Redwire and Genesis Park Corporation.

NASA Invites Public to Share Excitement of Northrop Grumman’s 16th Commercial Resupply Services Launch

Antares lifts off from Wallops Island with the Cygnus resupply ship on Feb. 20, 2021. (Credit: NASA Wallops/Allison Stancil)

WALLOPS, Va. (NASA PR) — NASA is inviting the public to take part in virtual activities and events ahead of the launch of Northrop Grumman’s 16th commercial resupply services mission to the International Space Station for NASA.

Members of the public can register to attend the launch virtually. NASA’s virtual guest program for NG CRS-16 includes curated launch resources, notifications about interaction opportunities, and a virtual guest passport stamp following a successful launch.

Northrop Grumman is targeting liftoff of its Antares rocket and Cygnus spacecraft for no earlier than 5:55 p.m. EDT Tuesday, Aug. 10, from Pad-0A of the Mid-Atlantic Regional Spaceport at NASA’s Wallops Flight Facility on Wallops Island.

(more…)

SpaceFund Announces Full Deployment of First Fund

HOUSTON (SpaceFund PR) — SpaceFund Inc., announced it has fully deployed investments from its first “LaunchPad” fund today. The venture capital firm placed investor funds in 14 companies, including both some well-known NewSpace stars, as well as seeding rising stars it believes capable of helping lead humanity into the frontier of space.

“We’re right on track in our plan to seed and support the growth of these amazing companies,” said SpaceFund founder Rick Tumlinson. “Our formula is working. First we find brilliant frontier tech startups in need of early funding, then we bring in funds from visionary investors, and after significant diligence, we place those funds in just the right places to power the space revolution.”

(more…)

QinetiQ to Lead Development of Hypersat’s Next Generation Hyperspectral Satellites for Launch by Virgin Orbit in 2023

FARNBOROUGH, UK (QinetiQ PR) — Hypersat has awarded a design-phase contract to QinetiQ Inc. (QinetiQ) for their next generation hyperspectral satellite. This study will be an enabling activity for a potential constellation of six low earth orbit (LEO) satellites that Hypersat plans to launch, and which will be capable of producing greater information about the material properties on Earth than any current capability in orbit.

QinetiQ will lead a team of specialist engineering and technology organisations across the US that includes Redwire, Millennium Engineering and Integration, LLC, and Brandywine Photonics. The team selected Virgin Orbit as the launch provider in part because of the unparalleled agility, mobility, and responsiveness afforded by air-launch, which allows for shorter call-up times and more flexible scheduling for customers, as well as direct injection into precise target orbits. In addition to the value for commercial customers, this capability enables a major strategic advantage to government organisations seeking to maintain unencumbered overhead intelligence.

(more…)

Mike Gold Joins Redwire as Executive VP of Civil Space Business Development and External Affairs

Mike Gold

JACKSONVILLE, Fla. (April 6, 2021) – Redwire, a new leader and innovator in mission critical space solutions and high reliability components for the next generation space economy, announced today the hiring of Mike Gold as Executive Vice President of Civil Space Business Development and External Affairs, effective April 5, 2021.

Gold joins Redwire from NASA, where he was most recently the Associate Administrator for Space Policy and Partnerships and was responsible for formulating and leading a comprehensive strategy to integrate domestic, international, intergovernmental, and industry policy across the space domain, including priorities that enhance the resiliency and capabilities of the Artemis program.

(more…)