Redwire Corporation (NYSE: RDW), a Jacksonville, FL-based company which specializes in space infrastructure for the new space economy, is to acquire Edge Autonomy, a San Luis Obispo, CA-based provider of field-proven uncrewed airborne system technology.
Under the terms of the merger agreement, Redwire will acquire Edge Autonomy for $925M on a debt free, cash free basis and subject to customary working capital, cash and debt adjustments. The merger consideration is expected to be paid using $150M in cash and $775M in shares of Redwire common stock, based on the volume-weighted average trading price on the NYSE for the 30 trading days ending on January 17, 2025 of $15.07 (“30-day VWAP”).
Commenting on the news, Peter Cannito said: “The combination of Redwire and Edge Autonomy creates a uniquely positioned space and defense company focused on two of the fastest growing trends in defense technology.”
Led by CEO Steve Adlich, Edge Autonomy specializes in providing autonomous systems, optics, and energy solutions to the U.S. Department of Defense, U.S. Federal Civilian Agencies, allied governments, academic institutions, and commercial entities around the world.
Led by CEO Peter Cannito, Redwire (NYSE:RDW) is a global space infrastructure and innovation company enabling civil, commercial, and national security programs. Its capabilities include avionics, sensors, power solutions, critical structures, mechanisms, radio frequency systems, platforms, missions, and microgravity payloads.
The company has approximately 700 employees working from 17 facilities located throughout the United States and Europe.