Redwire jumps on $44 million contract for DARPA Otter mission

Shares of space infrastructure firm Redwire RDW.N jump 9.2% to $5.93 premarket

RDW says it has been awarded $44 mln phase 2 contract to advance the Defense Department's DARPA Otter Very Low Earth Orbit (VLEO)

The Phase 2 contract provides funding to complete manufacturing and deliver spacecraft to launch for mission

"With Otter and our SabreSat platform, we are delivering higher-performance missions at lower altitudes," said Tom Campbell, President of Space Missions at Redwire

Up to last close, RDW had fallen 67% this year