Redwire Dips After $500 Million ATM Offering
Redwire Corporation faces selling pressure Wednesday after the company revealed in an SEC filing it could sell up to $500 million in common stock through an at-the-market offering. That set-up allows Redwire to drip shares into the market instead of flooding it all at once. Shareholders have dilution in focus, since more shares could mean smaller pieces of the pie. RDW finished Tuesday at $15.75, dropping 15.19% from Monday’s close of $18.57.
