Redwire to go public
Capitalism in space: Redwire, the space company created when it merged with Made in Space in exchange for providing it a large influx of capital, is now going public, merging with another investment capital SPAC.
Redwire, a firm that has acquired several space technology companies in the last year, announced March 25 that it will go public by merging with a special-purpose acquisition corporation (SPAC). Redwire said it will merge with Genesis Park Acquisition Corp., a SPAC that went public in November 2020. The merger will provide Redwire with $170 million in capital, valuing the company at $615 million. The companies expect the deal to close by the end of the second quarter of this year, at which point Redwire will be publicly traded on the New York Stock Exchange.
…Redwire [is] unique among space companies going public through SPACs in that it has both revenues and profits. The company reported $119 million in revenue in 2020, with adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $13 million.
This company now joins Momentus, Rocket Lab, Astra, and a number of other new commercial space startups that have recently announced the decision to go public.
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Fourteen years ago I wrote that SLS and Orion were a bad ideas, a waste of money, would be years behind schedule, and better replaced by commercial private enterprise. Even today NASA and Congress refuse to recognize this reality.
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Capitalism in space: Redwire, the space company created when it merged with Made in Space in exchange for providing it a large influx of capital, is now going public, merging with another investment capital SPAC.
Redwire, a firm that has acquired several space technology companies in the last year, announced March 25 that it will go public by merging with a special-purpose acquisition corporation (SPAC). Redwire said it will merge with Genesis Park Acquisition Corp., a SPAC that went public in November 2020. The merger will provide Redwire with $170 million in capital, valuing the company at $615 million. The companies expect the deal to close by the end of the second quarter of this year, at which point Redwire will be publicly traded on the New York Stock Exchange.
…Redwire [is] unique among space companies going public through SPACs in that it has both revenues and profits. The company reported $119 million in revenue in 2020, with adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $13 million.
This company now joins Momentus, Rocket Lab, Astra, and a number of other new commercial space startups that have recently announced the decision to go public.
The support of my readers through the years has given me the freedom and ability to analyze objectively the ongoing renaissance in space, as well as the cultural changes -- for good or ill -- that are happening across America. Four years ago, just before the 2020 election I wrote that Joe Biden's mental health was suspect. Only in this year has the propaganda mainstream media decided to recognize that basic fact.
Fourteen years ago I wrote that SLS and Orion were a bad ideas, a waste of money, would be years behind schedule, and better replaced by commercial private enterprise. Even today NASA and Congress refuse to recognize this reality.
In 2020 when the world panicked over COVID I wrote that the panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Only in the past year have some of our so-called experts in the health field have begun to recognize these facts.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
Please consider supporting my work here at Behind the Black.
You can support me either by giving a one-time contribution or a regular subscription. There are five ways of doing so:
1. Zelle: This is the only internet method that charges no fees. All you have to do is use the Zelle link at your internet bank and give my name and email address (zimmerman at nasw dot org). What you donate is what I get.
2. Patreon: Go to my website there and pick one of five monthly subscription amounts, or by making a one-time donation.
3. A Paypal Donation:
5. Donate by check, payable to Robert Zimmerman and mailed to
Behind The Black
c/o Robert Zimmerman
P.O.Box 1262
Cortaro, AZ 85652
You can also support me by buying one of my books, as noted in the boxes interspersed throughout the webpage or shown in the menu above. And if you buy the books through the ebookit links, I get a larger cut and I get it sooner.
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