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Redwire to go public through SPAC deal
Posted: Sun, Mar 28, 2021, 11:45 AM ET (1545 GMT)
Redwire, a firm that has acquired a number of space technology companies, announced plans Thursday to public through a merger with a special-purpose acquisition corporation (SPAC). Redwire will merge with Genesis Park Acquisition Corp., a deal that will value it at $615 million and provide it with $170 million in cash. Redwire, which is currently profitable, says it will use the proceeds for further acquisitions and growth in several strategic areas, from on-orbit manufacturing to space domain awareness. The deal, part of a wave of SPAC deals involving space companies in the last six months, is expected to close by the end of the second quarter.
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