Redwire Shares Slip After $500 Million Stock Offering Filed
Redwire Corp shares moved lower Tuesday, after the space and defense tech firm said it launched a $500 million at-the-market common stock program. The company filed with the U.S. Securities and Exchange Commission, saying it could offer shares from time to time using banks like Truist, J.P. Morgan, BofA, Canaccord, KeyBanc and Roth. Redwire shares fell 6.5% to $17.37 in early trading, hitting a session low at $16.58. Around 17.5 million shares traded hands. The company’s market cap was about $3.37 billion.