Redwire Company (NYSE: RDW shares are buying and selling larger Tuesday after the corporate introduced the pricing of a significant public inventory providing.
What To Know: The providing contains 15,525,000 shares priced at $16.75 every, bringing in roughly $260 million in gross proceeds.
This providing represents a major transfer by Redwire to boost capital but it surely additionally introduces issues about dilution, which possible contributed to the sharp drop in share value.
Redwire said that the proceeds will likely be used for a mix of functions, together with strengthening its steadiness sheet, decreasing dilution by repurchasing a few of its excellent convertible most popular inventory and repaying a vendor notice linked to its acquisition of Edge Autonomy.
RDW Value Motion: Redwire company shares had been down 20.4% at $16.37 on the time of writing, in response to Benzinga Professional.
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