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.
From the press release: From the moment he is handed a possibility of making the first alien contact, Saunders Maxwell decides he will do it, even if doing so takes him through hell and back.
Unfortunately, that is exactly where that journey takes him.
The vision that Zimmerman paints of vibrant human colonies on the Moon, Mars, the asteroids, and beyond, indomitably fighting the harsh lifeless environment of space to build new societies, captures perfectly the emerging space race we see today.
He also captures in Pioneer the heart of the human spirit, willing to push forward no matter the odds, no matter the cost. It is that spirit that will make the exploration of the heavens possible, forever, into the never-ending future.
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