CAC 40 falls after French Prime Minister resigns
JACKSONVILLE, Fla. - Redwire Corporation (NYSE:RDW), a $1.26 billion market cap space technology company whose stock has declined nearly 30% over the past six months according to InvestingPro, announced Tuesday that its subsidiary Edge Autonomy has delivered additional Penguin uncrewed aerial systems (UAS) to the Ukraine Armed Forces.
The company has been contracted directly by Ukrainian forces since Russia’s full-scale invasion in February 2022 to provide the reconnaissance drones for surveillance and target acquisition capabilities.
Edge Autonomy maintains an office in Ukraine, allowing its team to work directly with military personnel to adapt to mission needs in real time. The Penguin UAS is designed for extended endurance, rapid deployment, and ease of operation in tactical operations.
"We have a well-established presence in the Baltics and are heavily invested in the region, which has uniquely positioned us to understand and support Ukraine’s mission," said Steve Adlich, President of Edge Autonomy.
The Penguin C UAS was specifically named in United States Security Assistance Packages for Ukraine in July 2023 and December 2024, according to the press release.
Edge Autonomy, which Redwire owns, specializes in uncrewed aerial systems, advanced optics, and energy solutions used by the U.S. Department of Defense, federal agencies, and allied governments.
Redwire Corporation, headquartered in Jacksonville, Florida, employs approximately 1,300 people across the United States and Europe.
In other recent news, Redwire Corporation has been active with significant developments. The company announced that its subsidiary, Edge Autonomy, secured a contract to deliver unmanned aerial systems to a European NATO country. This contract includes the Stalker Group 2 fixed-wing uncrewed aerial system, spare parts, and training for reconnaissance and intelligence operations. Although the financial details and customer identity were not disclosed, this contract highlights Redwire’s ongoing involvement in defense technology.
Additionally, Bain Capital, through its affiliate BCC Aggregator L.P., converted 31,719.43 shares of Redwire’s Series A Convertible Preferred Stock into 11,000,000 common shares. This conversion was based on an initial price of $3.05 per share, as per the terms set in the previous year. Following this transaction, Redwire’s total outstanding common stock increased to 155,188,092 shares. Furthermore, reports surfaced that Bain Capital is offering to sell more than half of its stake in Redwire through an unregistered block trade, involving 11 million shares at a price range of $7.99 to $9.00 per share.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.