Space infra firm Redwire drops after launching $200 mln stock deal

Redwire's RDW.N shares down ~11% to $18.32 in extended trading as space infrastructure technology co looks to raise equity

Jacksonville, Florida -based RDW commences $200 mln stock offering

Co says intends to use net offering proceeds for general purposes to fund growth, repurchase portion of its convertible preferred stock, and repay note issued in connection with $925 mln cash-and-stock acquisition of Edge Autonomy

RDW completed Edge Autonomy acquisition last week

JP Morgan, BofA and Morgan Stanley are lead bookrunners for the offering

RDW shares on Mon closed up 7.8% at $20.57. Stock up 25% YTD, including 68% gain over the past month

Co has ~127 mln shares outstanding for ~$2.6 bln market cap

All 6 analysts covering RDW are bullish and the median PT is $22.50, LSEG data reflects